Amendments To Brazilian Arbitration Law

The Brazilian Congress has approved Law No. 13.129/2015, with amendments to the Brazilian Arbitration Law (Law No. 9.307/96). The most relevant updates are as follows:

• The possibility of public entities to use arbitration, whenever the dispute is related to disposable patrimonial rights.
• The addition of an article to the Brazilian Corporate Law (Law No. 6.404/76) providing that an arbitration clause inserted in the company's bylaws is binding for all shareholders. Any dissenting shareholders can exercise their right to withdraw from the company.
• The possibility for parties to seek judicial measures before the constitution of an arbitral tribunal in order to obtain a provisional or injunctive measure. After its constitution, the arbitral tribunal will have the authority to uphold, amend or revoke the measure granted by the judicial authority, and to grant new provisional and injunctive measures.