After a long legislative process, a new Brazilian Federal law on cartel damages claims was enacted and entered into force (Law No. 14.470/2022) on 17 November 2022. The statute comes with new provisions that are expected to significantly increase incentives for these lawsuits in Brazil. According to the new statute, those who suffered damages due to cartel agreements and concerted practices affecting Brazilian markets will be able to reclaim twice the value of their losses.
On 1 April 2021, Law nº 14,133/2021 or the New Public Procurement General Law (“New Public Procurement Law”) was published, substituting Law nº 8,666/1993. The Brazilian president, however, has vetoed 26 items of the bill approved by the National Congress.
The Brazilian Senate approved last week the final text of the bill for a new public procurement general law (“New Public Procurement Law”), which will substitute Law nº 8,666/1993. The final document will now be submitted to the Brazilian president for signature and/or vetoes.
In brief The Advocacy and Competition Law Secretariat of the Ministry of Economy (SEAE) published last Wednesday Public Consultation no. 02/2021, through which it seeks to receive contributions regarding potential abusive or excessive actions by federal regulators. The contributions will be used by the SEAE to develop a public policy…