RFOR - Recognition of a Foreign Arbitration Award is Not Barred By a Local Action Filed in Brazil

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Recently, in a case handled by our law firm, the Brazilian Superior Court of Justice (“STJ”) ruled that the recognition of a foreign award is not barred by the simple existence of a concurrent lawsuit with the same subject matter in Brazil. It is indeed a very important ruling, since it strengthens protection of international arbitration and brings prestige to foreign awards in Brazil. As a result, a higher degree of legal security is now provided to foreign investors, which certainly helps attract foreign investments to Brazil.

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