VMCA Partner talks to Capital Aberto magazine about the two-month-long delay in nominations which paralyzed CADE
Partner Vinicius Marques de Carvalho talked to Capital Aberto magazine about the two-month-long delay in nominations which paralyzed CADE from July to September.
While awaiting for the Federal Government new nominations, CADE’s Board of Directors had only two members and four empty positions, meaning the agency was not able to form the quorum required to rule on upcoming mergers. The lack of commissioners halted all meetings from bthe beginning of July to the end of September, and the backlog of cases reached 70 deals.
According to Vinicius, in addition to these 70 deals, it’s impossible to mensurate how many operations might have been canceled or suspended by the parties due to the lack of quorum.
Full article available here.