In a ruling reported on September 16, the 1st Civil Court of Olímpia (State of São Paulo) ordered the developer to refund 75% of the amounts paid by a buyer who sought termination of a timeshare purchase agreement. Although the penalties formally complied with the...

On September 14, the Securities Registration Superintendence published Annual Circular Letter CVM/SRE 2026, resuming a publication discontinued since 2021. The document consolidates guidance for issuers, offerors and intermediaries and incorporates market experience...

On September 15, the Tokenization Working Group delivered to the Board of the Brazilian Securities and Exchange Commission (CVM) the draft resolution establishing the CVM DLT Pilot Program. The draft provides for tests of issuance, offering, distribution, trading,...

Foreign investors accounted for approximately 60% of the disclosed value of energy-sector M&A transactions in Brazil between July 2023 and June 2026, according to data analyzed by Acorn Advisory. International buyers represented only 30.7% of acquisitions of...

On September 15, Brazil's National Waterway Transportation Agency (ANTAQ) published in the Federal Official Gazette a new framework subjecting the Low Water Surcharge (LWS) to the Agency's prior approval. Shipping companies must give at least 30 days' prior notice and...

International charterparties and bills of lading frequently incorporate protective mechanisms such as Paramount, Both-to-Blame Collision, General Average and New Jason clauses. These provisions are designed to allocate navigation, collision, cargo and general-average...

On September 14, Brazil's Ministry of Ports and Airports signed three ordinances updating the sector's Sustainability Policy, establishing the National Policy on Port Research, Development and Innovation (PD&I-Portos) and creating the Impulsiona Program, aimed at...

In a decision reported on September 13, the 20th Civil Chamber of the Minas Gerais Court of Appeals upheld the order requiring a consortium manager to refund BRL 13,000 and pay BRL 5,000 in moral damages to a customer who never received the credit letter purchased....

In a decision reported on September 12, the 6th Civil Court of Jabaquara (State of São Paulo) ordered an insurer to comply with two credit life policies and settle the outstanding balances of working capital facilities following the death of the insured company's...