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Most securities disputes involving corporations listed in Brazil go to arbitration. For instance, to be listed at the “New Market” (the listing segment of corporations with the best corporate governance) at B3 (Brazilian largest stock exchange), the by-laws of such corporations shall provide for arbitration as the conflict resolution venue. As a result, there has been increasingly usual over time for minority shareholders to file arbitrations against corporations for abuse of power and/or provision of…

A. LEGISLATION AND RULES A.1       Legislation A.1.1. Brazilian Judiciary regulates arbitral letters for communications between arbitrators and judicial courts On 29 September 2021, the Brazilian Justice Counsel (the institution supervising Judiciary Power) issued a regulation on arbitral letters, which are the instruments foreseen in the Brazilian Arbitration Act and the Brazilian Code of Civil Procedure for communications between arbitral tribunals and judicial courts. Although arbitrators are equivalent to judges, they do not have powers to…

On June 4, 2021, Brazil signed the Singapore Convention on Mediation (“Singapore Convention”), which provides a uniform framework for settlement agreements put in writing resulting from mediations entered in one of the contracting states. Under the Singapore Convention, a party can enforce such settlement agreements in the courts of any contracting state, provided that the settlement agreement was issued in that or in another contracting state. Moreover, the party can invoke the settlement agreement in…

Facts of the Case The São Paulo State Court of Appeals (“the Court”) annulled an arbitral award, by request of the claimant in the arbitration (an insurance company), on the grounds that the presiding arbitrator violated his duty of disclosure (Decision of the court in Portuguese available here). The arbitration started in March 2015, and the award was issued on February 7, 2018. During the course of the arbitration, the respondent appointed the presiding arbitrator…