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– Rendering optional the submission of hard copies of the communications and, consequently, providing for the filing of communications by e-mail (art. – The expansion of the maximum amounts for expedite arbitration is now of US$ 3 million, or R$ 9.6 million (Appendix VI, art. – The ICC’s power to appoint arbitrators notwithstanding any agreement between the parties as to the method of constitution of the arbitral tribunal (art. – The possibility of consolidating several arbitration proceedings that have a common legal basis (art. – The possibility of joining additional parties even after the choice of arbitrators and the execution of the terms of reference (art. – The parties’ duty to disclose any third-party financing agreements that they have entered into (art. – The express authorization to hold virtual hearings, which shall take place at the parties’ request, or if the arbitral tribunal deems them necessary (art. Further, the 2017 Arbitration Rules, the previous version, will still apply to ICC arbitrations registered before 2021. The changes apply regardless of the moment in which the underlying arbitration agreement was executed, unless the parties agree to submit the procedure to the Rules that were in force on the date of their arbitration agreement, pursuant to Article 6.2 of the 2021 rules. On January 1 st, 2021, the new Arbitration Rules of the International Court of Arbitration of the International Chamber of Commerce (ICC) entered into force. The public hearing is already open for comments, critiques, or suggestions, which must be submitted by e-mail until Apto the Financial Market Development Superintendency – SDM further information on the public hearing and the contents of the proposed alterations, click here. The only exception to the obligation to communicate these events are confidentiality requirements provided by statutes. The obligation to communicate those pieces of information cannot be derogated by confidentiality provisions stipulated by arbitration agreements, arbitration rules established by chambers or by any other agreement between the parties. – Any settlement proposals received, or agreements executed during the dispute. – Decisions on challenges to the arbitrators – Decisions regarding the arbitrators’ jurisdiction (if positive or negative) – Any provisional decisions (if granted or denied)

– The commencement of the dispute, indicating: the parties involved, amounts, goods and rights under discussion, the relevant facts, the prayer for relief or requests made Regarding disputes submitted to arbitration, each Company will be liable to disclosing, within 3 business days: annulment of resolutions passed by the General Meetings, civil liability suits against officers or majority shareholders). Item XLIV will oblige these emissaries to publish information regarding corporate litigation in which the emissary (in this case the publicly held company), its majority shareholders or its officers and (i) that involve natural rights or general public interests, collective or homogeneous individual rights or (ii) whose award may interfere in the companies’ sphere of legal influence or that of any other holder of securities emitted by the Company that are not a party to the dispute ( e.g. 480, which lists the information that emissaries of securities registered under Category A must make available. The proposed modifications are amenable to introducing item XLIV to Article 30 of Instruction No. In this sense, the CVM published a notice calling for a public hearing on the modifications to Instruction No. 480 in order to allow for more transparency on litigation involving publicly held companies that can potentially affect minority shareholders.

The Brazilian Securities Commission (CVM) is currently analyzing whether to amend Instruction No. The procedure will be carried out by videoconference due to the Covid-19 pandemic.įor further information on the matter, click here. This is the first dispute submitted to the Mediation and Conciliation Center and Justice Ellen Gracie Northfleet, retired Justice and former President of the Brazilian Supreme Court was appointed as mediator. 0490011-84.2013., pending before the Supreme Court, Minister Dias Toffoli submitted to the Mediation Center and Conciliation of the STF the dispute relating to a famous cell phone trademark. In a decision published on December 4 th, 2020, regarding case No. Among other professionals, retired ministers can act as mediators and conciliators on a voluntary basis. The Mediation and Conciliation Center of the Brazilian Supreme Court has been established by Resolution 697/2020 in order to promote the consensual resolution of disputes waiting to be heard by the STF through the application of alternative dispute resolution mechanisms such as mediation or conciliation.