Brazilian law requires corporate and civil partners to meet annually in order to discuss the company’s financial statements, as well as the administrators’ accounts, deliberating on the destination of the company’s profits earned in the last fiscal year, if any. Although there is no legal sanction, their absence may damage the company’s relations with third parties. Another consequence would be the minor quotaholders or shareholders transforming it into the object of discussions for not being able to analyze and deliberate on the company’s profits and financial statements. In the Newsletter prepared by Almeida Advogados we approach the main issues related to this obligation, the terms under the law and the risks involved, as well as any exception to this rule.
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We wish you a good reading!
Almeida Advogados´ Team