Insight

A Q&A with Renê Medrado, José Alexandre Buaiz Neto, and Leonardo Rocha e Silva of 2018 Brazilian “Law Firm of the Year” Pinheiro Neto Advogados’ Competition Antitrust Law Division

Have you noticed any changes in Brazil over the years in the competition and antitrust law area?

Pinheiro Neto Advogados Q&A
Best Lawyers

Best Lawyers

April 9, 2018 12:50 PM

Have you noticed any changes in Brazil over the years in the competition and antitrust law area?

RM: I would say that in terms of changes in the law, we have not seen substantial changes. However, there have been changes in the composition of the antitrust bodies. The general-superintendent has changed and a couple of members of the administrative tribunal, and that can have an effect on how fast the cases move and are solved in the merits.

How will trends continue to change or develop in the next five years?

JA: In the next five years, the authority will continue to investigate the cases they currently have. In the next few years, we could see the reduction of those cases, as the authority is still overwhelmed with work, and I think they are going to have to give some priority in relation to the cases involving the construction companies for bribery/anti-trust illegal agreements, which have taken place here in the last couple of years. It’s all over the news—the car wash investigation. I think the authority for the next five years will tend to be more pragmatic in relation to merger reviews. In fact, they have been doing that, and they will continue. One final point on that—we have a new General Superintendent on the board since late last year. The Superintendent has a very important role. As a member of the board, he was already part of the system. He has a major role both in merger and conduct review. We will be in a much better position to tell what will happen in the next couple of years when we can get his initial approach to cases.

LRS: Speaking on that, it is important to point this out about the new superintendent: He already said he intends to focus on important unilateral conduct cases that he believes should be investigated in Brazil. Although, of course, we see a lot of cartel case being investigated by the authorities, we could also see—at least based on the interview that the superintendent has had in the recent past—that he is going to focus a little more on unilateral conduct cases, and that is an important development for Brazil.

In what other ways do you see your firm accommodating to changes that may occur in the practice area?

RM: I believe we will continue to have an important involvement in merger review. Certainly, this last year was a year where we saw CADE intervening in many transactions, either rejecting transactions that were proposed or engaging very actively in settlements with companies. Certainly, this is a very important part of our practice. In terms of investigations, besides the unilateral practice that CADE will focus on as Leonardo mentioned, in view of the amount of cases that CADE has opened against the cartel practice, it has raised the bar for compliance, and we will certainly see more and more work overturn on investigations and companies calling us to help them bring their practice to compliance and check whether their business units are in compliance.

JA: It is very important for us. As Renê mentioned, we of course are working very closely to our clients because it’s very important for the companies to understand all the issues CADE is raising. A transaction that were denied or barred last year may be an example and the focus of the authority in terms of issues that a transaction can lead to in the Brazilian market, so it is very important for the companies to start an examination of the issues that could be raised before CADE very early in time so they can be prepared if they want to pursue the merger or acquisition that they foresee. Also, companies need to be well prepared to do the right thing in terms of awareness for the employees so that all the decisions rendered by the authorities are well-known in relation to the imposition of fines for conduct that the authorities are investigating in what are the main concerns for CADE in terms of company behaviors in the marketplace.

What growth has your firm been experiencing for the last few years?

LRS: Last year, we completed 75 years in the business. We have a strong internal culture, and we grow usually organically—it is home grown, so we have people that start here; the three of us were trainees at the firm at some point. Last year we made several partners—no partners in the antitrust area. We have some senior associates that are going to run for partnerships in the next few years. This is a natural trend in our practice, and we see this in a positive manner because it reflects the growth and the strength of our group.

What characteristics does your firm have that led to being recognized as a “Law Firm of the Year”?

RM: One of our main strengths is that we have five partners that work with antitrust, and we know this is a practice where senior involvement is necessary. The clients want fast answers, precise, well-based, and knowledgeable advice. When we have five partners involved in complex cases, it has shown that this is valuable to our clients because we can guarantee that the case will be conducted by someone with experience and a high level of expertise. In reflecting this, we can see that all of us will be involved in high-profile cases, both in mergers and conducts. This really is not only something we do and believe in our antitrust practice—this a reflection of what our firm believes in, which is a lower ratio between partners and associates ( i.e., to ensure that a partner will be advising and will be deeply involved in the matter, personally involved in communications with the client and with the authority).

JA: Just to emphasize something Renê said—it is hard to say this without bragging, but the big difference you’re going to see in our team and our cases, mainly across the board as a general thing, is that we are going to get partners that are hands-on, you are going to get cases with partners to oversee what is going on and participate actively, and that makes the difference in the final result of the case. Another thing that might be relevant is that, as a firm, we emphasize to our associates to work, study abroad, to get that experience outside, and we get that to our team, and that really helps. A final point that makes our practice unique in comparison to other practices is that we have a very strong team both in São Paulo and in Brasilia—very close to the authority. A lot of people from the authority have worked with us at some point in the past. So we have people doing the real work in Brasilia and doing the real work in São Paulo. You have a mix that can provide our clients with the best service.

LRS: Also, I would point out our experience in litigation, because our Antitrust Group is within the Litigation Department of our firm. Thus, we also carry this litigation expertise that helps clients whenever they have an administrative decision that should be challenged in the courts in Brazil. This litigation experience and background has proven to be instrumental to our clients’ needs.

RM: I would also add another point, which is independence. We are lawyers in the right sense of the word. Our focus is to give quality and business-oriented advice to our clients. At the same time, we strive to interact with the authority in a cooperative manner. After many years of experience with CADE, it is fair to say that they know our practice, building up on reciprocal trust, allowing us to advocate our points with the authority in a straightforward manner. This can help when it is time to make a settlement.

Are there any closing remarks?

JA: What we can say as a closing remark is what we can offer to the client, not only in antitrust. This is what we take advantage of being in a full-service law firm. Antitrust is sometimes the main part of the case, but usually you can get help from other partners to address other issues involving the case. Usually, if you are going to settle, you can get a tax advantage and see how far it can go, and we have the right capabilities to provide all services needed by clients.

Related Articles

Announcing The Best Lawyers in Germany™ 2023


by Best Lawyers

The results include an elite field of top lawyers and firms from Germany.

Black, red and yellow stripes

Announcing The Best Lawyers in Switzerland™ 2023


by Best Lawyers

The results include an elite field of top lawyers and firms from Switzerland.

Red flag with white cross

Announcing The Best Lawyers in Austria™ 2023


by Best Lawyers

The results include an elite field of top lawyers and firms from Austria.

Red and white stripes

Announcing The Best Lawyers in Italy™ 2023


by Best Lawyers

The results include an elite field of top lawyers and firms from Italy.

Green, white and red stripes

Announcing the 2022 Best Lawyers in Colombia™


by Best Lawyers

The results include an elite field of top lawyers and firms.

Announcing the 2022 Best Lawyers in Colombia™

Announcing the 2022 Best Lawyers in South Africa™


by Best Lawyers

The results include an elite field of top lawyers and firms.

Announcing 2022 Best Lawyers in South Africa

Announcing the 2022 Best Lawyers™ in Switzerland


by Best Lawyers

The results include an elite field of top lawyers and firms.

Announcing the 2022 Best Lawyers™ in Switzerl

Announcing the 2022 Best Lawyers™ in Germany


by Best Lawyers

The results include an elite field of top lawyers and firms, including our inaugural Best Lawyers: Ones to Watch recipients.

Announcing the 2022 Best Lawyers™ in Germany

Announcing the 2022 Best Lawyers™ in Austria


by Best Lawyers

The results include an elite field of top lawyers and firms.

Announcing the 2022 Best Lawyers™ in Austria

Announcing the 2022 Best Lawyers™ in Russia


by Best Lawyers

The results include an elite field of top lawyers and firms.

Announcing the 2022 Best Lawyers™ in Russia

Announcing the 2022 Best Lawyers™ in Australia


by Best Lawyers

The results include an elite field of top lawyers and firms.

Announcing the 2022 Best Lawyers™ in Australi

The 2021 Best Lawyers in Canada


by Best Lawyers

Featuring the top legal talent in Canada.

Best Lawyers Canada 2021 Homepage Image

Announcing the 2021 Best Lawyers in Portugal


by Best Lawyers

The results include an elite field of top lawyers and firms.

2021 Best Lawyers in Portugal

Announcing the 2021 Best Lawyers in Spain


by Best Lawyers

Featuring the nation's top 2 percent of practicing lawyers.

2021 Best Lawyers in Spain

2021 Best Lawyers International


by Best Lawyers

Featuring the top legal talent from around the globe.

Best Lawyers International 2021

Announcing the 2021 Best Lawyers in South Africa


by Best Lawyers

For the 12th Edition, Best Lawyers recognizes the top 2 percent of practicing lawyers in the nation.

2021 Best Lawyers in South Africa

Trending Articles

Announcing the 2023 The Best Lawyers in America Honorees


by Best Lawyers

Only the top 5.3% of all practicing lawyers in the U.S. were selected by their peers for inclusion in the 29th edition of The Best Lawyers in America®.

Gold strings and dots connecting to form US map

Announcing the 2022 Best Lawyers® in the United States


by Best Lawyers

The results include an elite field of top lawyers listed in the 28th Edition of The Best Lawyers in America® and in the 2nd Edition of Best Lawyers: Ones to Watch in America for 2022.

2022 Best Lawyers Listings for United States

2021 Best Lawyers: The Global Issue


by Best Lawyers

The 2021 Global Issue features top legal talent from the most recent editions of Best Lawyers and Best Lawyers: Ones to Watch worldwide.

2021 Best Lawyers: The Global Issue

The U.S. Best Lawyers Voting Season Is Open


by Best Lawyers

The voting season for the 31st edition of The Best Lawyers in America® and the 5th edition of Best Lawyers: Ones to Watch® in America is officially underway, and we are offering some helpful advice to this year’s voters.

Golden figures of people standing on blue surface connected by white lines

How To Find A Pro Bono Lawyer


by Best Lawyers

Best Lawyers dives into the vital role pro bono lawyers play in ensuring access to justice for all and the transformative impact they have on communities.

Hands joined around a table with phone, paper, pen and glasses

What the Courts Say About Recording in the Classroom


by Christina Henagen Peer and Peter Zawadski

Students and parents are increasingly asking to use audio devices to record what's being said in the classroom. But is it legal? A recent ruling offer gives the answer to a question confusing parents and administrators alike.

Is It Legal for Students to Record Teachers?

How Palworld Is Testing the Limits of Nintendo’s Legal Power


by Gregory Sirico

Many are calling the new game Palworld “Pokémon GO with guns,” noting the games striking similarities. Experts speculate how Nintendo could take legal action.

Animated figures with guns stand on top of creatures

The Best Lawyers in Australia™ 2024 Launch


by Best Lawyers

Best Lawyers is excited to announce The Best Lawyers in Australia™ for 2023, including the top lawyers and law firms from Australia.

Australian Parliament beside water at sunset

Best Lawyers: Ones to Watch in America for 2023


by Best Lawyers

The third edition of Best Lawyers: Ones to Watch in America™ highlights the legal talent of lawyers who have been in practice less than 10 years.

Three arrows made of lines and dots on blue background

Inflation Escalation


by Ashley S. Wagner

Inflation and rising costs are at the forefront of everyone’s mind as we enter 2023. The current volatile market makes it more important than ever to understand the rent escalation clauses in current and future commercial lease agreements.

Suited figure in front of rising market and inflated balloon

A Celebration of Excellence: The Best Lawyers in Canada 2024 Awards


by Best Lawyers

As we embark on the 18th edition of The Best Lawyers in Canada™, we are excited to highlight excellence and top legal talent across the country.

Abstract image of red and white Canada flag in triangles

8 Different Types of Criminal Defenses in Law


by Best Lawyers

Learn about the different types of criminal defenses available in law, including innocence, self-defense, insanity and more. Protect your rights today.

Silver handcuffs laying on finger printed papers

Wage and Overtime Laws for Truck Drivers


by Greg Mansell

For truck drivers nationwide, underpayment and overtime violations are just the beginning of a long list of problems. Below we explore the wages you are entitled to but may not be receiving.

Truck Driver Wage and Overtime Laws in the US

The Upcycle Conundrum


by Karen Kreider Gaunt

Laudable or litigious? What you need to know about potential copyright and trademark infringement when repurposing products.

Repurposed Products and Copyright Infringemen

Choosing a Title Company: What a Seller Should Expect


by Roy D. Oppenheim

When it comes to choosing a title company, how much power exactly does a seller have?

Choosing the Title Company As Seller

Unwrapping Shrinkflation


by Justin Smulison

Through the lens of the United States, we take a closer look at the global implication of companies downsizing products while maintaining and often raising prices.

Chocolate bar being unwrapped from foil