Understand Your Rights. Solve Your Legal Problems
B3 has entered a partnership with ACX Group to create a trading platform for carbon credits, securities issued to neutralise greenhouse gases. B3 have stated that the partnership with global carbon credit trading platform ACX will give clients access to a centralised global order book connected to major global standards.
Campos Mello Advogados provided legal advice for B3 for the duration of this partnership.
“Beyond traditional legal counselling, central to our methodology is the recognition that in today's dynamic business landscape, legal expertise alone is insufficient. Therefore, we usually place great emphasis on cultivating understanding of the different cultures and approaches involved, other knowledge sectors and markets involved in the transaction, which enable us to offer thorough advice that aligns with the client's broader strategic objectives.”
From the initial kick-off phase, throughout the negotiation of the transaction documents and until the execution of the legal instruments, our main role during this process was to serve as strategic legal counsel for B3 to give them legal grounds to make the best commercial decisions.
Drawing upon the collective years of legal experience of the partners and associates of our firm, we worked closely with the client’s teams on navigating complex legal intricacies involved in negotiating this cross-border partnership to bring ACX trading platform to Brazil under the umbrella of B3’s exchange markets. This involved extensive due diligence work, complex contract negotiation, regulatory acumen from all sides, as well as continuous knowledge exchange between legal, finance, products, technical and IT teams.
In essence, our main role was to not only ensure optimal contract negotiations and compliance with the Brazilian Law, but also to optimize opportunities and mitigate risks inherent to the transaction, safeguarding the interests of B3 and facilitating a smooth negotiation and successful transaction.
Beyond traditional legal counselling, central to our methodology is the recognition that in today's dynamic business landscape, legal expertise alone is insufficient. Therefore, we usually place great emphasis on cultivating understanding of the different cultures and approaches involved, other knowledge sectors and markets involved in the transaction, which enable us to offer thorough advice that aligns with the client's broader strategic objectives.
When initiating due diligence procedures for projects similar to the B3 and ACX Group partnership, our approach is meticulously structured to ensure comprehensive understanding of the client’s main needs and scope of the transaction in order to provide a tailored legal assistance.
The kick-off meeting and first interactions between teams are imperative steps that allow us to delve deeper into the nuances of the project, and to have a better understanding of the business and activities carried out by the target company and of the respective stakeholders, which will serve as the basis for preparing a tailored list of documents to be requested during the due diligence process. Such first interactions also allow us to get to know the client’s appetite for risk and how the transaction fits into the company’s broader strategy, serving as the foundation upon which we build our roadmap.
Moreover, our multidisciplinary approach, informed by insights from diverse sectors and areas of practice enables us to offer bespoke legal guidance throughout the due diligence process.
Finally, our cooperation with DLA Piper adds a significant advantage to our services related to cross-border transactions. Leveraging this alliance, we can navigate complex regulatory frameworks, ensuring robust outcomes regardless of geographical boundaries. In essence, our due diligence and transactional works are characterized by strategic precision, tailored legal assistance, client-centricity, and a relentless pursuit for achieving the client’s goals.
We are committed to corporate social responsibility and consider it our duty to contribute to society in meaningful ways, beyond the confines of traditional legal practice.
Our transactional work and pro bono projects (in which our firm proudly invested 2,197 hours of work in 2023) are interconnected facets of our firm's overarching commitment to making a meaningful and lasting difference locally and worldwide. For instance, our firm was involved in legal assistance to Arns Commission in a legal opinion to support the ADPF 709/DF regarding the invasion of the Yanomamis land and we have also been providing pro bono work, such as the legal assistance to Red Cross São Paulo on other matters relevant to the local community.
Regarding the transaction involving B3 and ACX, it certainly plays an important role, not only within the Brazilian market but also resonates strongly with the global green agenda. Moreover, as we believe in the integration of our institutional values into every aspect of our legal services, the scope of this transaction was fully aligned with our mission.
During our legal assistance, we actively applied several of our core values, such as commitment to effectiveness, empathy, excellence while providing high quality services, and leadership by example. We are pleased to see that this transaction reflected our dedication to achieving tangible results that not only benefit our clients but also contribute positively to the development of the local markets, as well as society and the environment. More than that, whilst we believe that our actions speak louder than words, through this transaction we have aimed to set a precedent for sustainable businesses that are yet to further develop in Brazil.
Maintaining positive relationships throughout negotiations is paramount to the success of any transaction. Our approach is deeply rooted in fostering an environment of mutual respect, constructive dialogue, and proactive engagement, ensuring that the interests of the client are addressed.
At the forefront of our strategy is the cultivation of positive relationships, even in the face of complex matters, intricating contractual framework and diverging interests. We prioritize maintaining open lines of communication and believe in engaging with all parties in a manner that upholds mutual respect. We believe this approach lays the groundwork for productive discussions and collaborative problem-solving.
Moreover, we always adopt a pro-deal approach while navigating potential points of contention with tact and diplomacy, recognizing the significance of a constructive dialogue. As flexibility and strategic positioning are also cornerstones of our approach, not only we seek to prioritize working on solving substantive matters over focusing on minor issues, avoiding the creation of unnecessary disputes that could strain relationships, but we also recognize the value of compromise and concession when reasonable whilst advocating for our clients' interests.
In our view – and bearing in mind a comprehensive understanding of our clients' priorities –, we believe this approach contributes substantially to ensuring productive negotiations and the overall success of the transaction, as knowing when to concede is as important as knowing when to draw hard lines.
In essence, our approach to negotiations is defined by a commitment to positive relationship-building, respect, constructive dialogue, and a pro-deal mindset. By prioritizing collaboration, flexibility, and pragmatism, we strive to navigate negotiations with efficiency and effectiveness, ultimately driving overall successful outcomes for the client.
As we look forward to this year, we are particularly excited about the myriad opportunities expected to emerge within the technology sector, as forecasts predict significant investments in technology. We have been working hard in the last years to reach our current strategic position and are able to leverage our expertise and to absorb any demand on transactional matters on the M&A, private equity, and venture capital sectors.
Additionally, the rapid advancement of new technologies, including artificial intelligence (AI), as well as the development of Brazilian technology hubs, continue to reshape industries and redefine business paradigms. We are actively engaged in matters in which understanding of legal implications and opportunities presented by these transformative technologies is paramount for a successful transaction. From navigating regulatory and complex contractual frameworks to advising on intellectual property protection, our firm is committed to empowering clients to harness the full potential of their products, investments, and business ventures, which often involves cutting-edge innovations.
Another area of immense interest and potential growth is the global carbon credit market, as Brazil holds great potential for it. Moreover, as governments worldwide intensify their focus on climate change mitigation, the demand for carbon credits is expected to soar. We are closely monitoring its expansion and the development of the recently enacted Brazilian legal framework.
In a nutshell, our dedication to delivering forward-thinking and strategic legal counsel remains unwavering, ensuring that our clients thrive in an increasingly dynamic global marketplace.
Ancala is an independent infrastructure manager which invests in critical infrastructure businesses. It consistently delivers results for its investors, portfolio companies and the communities they serve.
New and existing investors to Ancala have committed to the fund, comprising institutional investors across Europe, North America and Asia. The target of EUR 1.2 billion was widely surpassed with a EUR 1.4 billion in commitments.
Loyens & Loeff assisted Ancala on Luxembourg regulatory and legal aspects
New and existing investors to Ancala have committed to the fund, comprising institutional investors across Europe, North America and Asia.
International women’s day celebrates all women who fought for advancements in the past, present and future. Bringing awareness to the struggles and the wins that women have gone through to build a better future for women which is vital to human success.
Carrie Morrison was the first female solicitor from 1922 entering into a male-dominated field and setting the way for many women after her.
Now, the Law Society reports that 53% of all practising lawyers are women and 60% of new solicitors are women.
Despite Women now entering and practicing law only 35% of partners in law firms are women. Senior positions are still greatly dominated by men in the legal industry.
Over the years there have been major strides forward for women’s rights and thousands of women are in safer, cleaner and overall better positions because of them.
However, movement is slow and in many cases stifled or even moving backwards rather than forwards. Women’s rights activists and lawyers are still fighting for several aspects including women’s health, education and more.
Despite great steps forward we are still witnessing thousands of women and girls face horrendous conditions and fates due to their gender.
Statistics from The Fund for Global Human Rights highlight the need for awareness and a continues fight to be made for women around the world.
MSI choices reports that only 57% of women around the world are able to make their own informed decision on sex and reproductive health. MSI choices work to support women in their decisions and provide the resources they need to have control over their own lives.
Reproductive choice is the gateway to a gender equal world
March 8, 1857, one of the first organised strikes by working women occurred with female textile workers marching in protest of unfair working conditions and unequal rights for women.
March 8, 1908, women workers in the needle trades marched through New York to protest child labour and sweatshop working conditions and to demand women’s suffrage.
March 8, 1910, International Women’s day became an annual event.
On International Women’s day this year we remember the work that still needs to be done and the work already done by activists and women’s rights lawyers.
The case of providing the victims of the Post Office and Horizon scandal compensation has been ongoing and remains in this state. Alan Bates appeared today, the 27th February to provide evidence to MPs on the need for justice for the victims and their families.
Bates highlighted the importance to speed up the scheme and proposed that people are given a supplementary amount whilst they wait for the process to be completed.
“It’s financial redress. This is money these people are actually owed”
They were also joined by James Hartley of Freeths and Dr Neil Hudgell, the executive chariman of Hudgell Solicitors, as both are dealing with a large number of the branch operators and acting on behalf of the victims.
Hartley explained that the process of the Post Office disclosing their evidence is delaying action greatly.
As well as waiting for the Post Office to provide justice there has also been discussion of whether Fujitsu, the creators of the Horizon system will provide redress.
They have set up a GLO scheme, where claimants can choose this avenue to compensation. As well as this, an Overturned Convictions Scheme is also available where members will receive payments while final settlements are processed.
It has also been stated that, legislation to clear wrongly convicted sub-postmasters is also expected to be brought forward next month.
Both lawyers agreed an estimate of 1-2 years before all victims are properly compensated.
Various individuals were called on including Nick Read, the current Post Office CEO as he updated MPs on the progress to redress victims. Mr Read argues for the change he has brought to the Post Office and for the postmasters to rebuild the trust however, the slow action to bring justice for the former postmasters was in question.
It could be quite some time for the victims to receive correct justice as organisations and MPs discuss the process and the fate of those who are waiting for what is owed to them.
On the 24th of February 2022 Russia launched their invasion on Ukraine by sending armed forces into the capital, Kyiv as well as the second largest city in Ukraine, Kharkiv with the aim of overthrowing President Volodymyr Zelensky’s government.
Now, two years on this war is on-going with thousands of people killed, forced from their homes, and torn from their families.
The BBC offers current updates on the war.
Ukraine currently has very limited claimed land as the Russian forces make their way and take control over major areas with their main goal being the subjugation of Ukraine.
The Geneva Conventions are the set of humanitarian laws which should be followed during a war, originally created in 1864 to help preserve humanity during wartime. The International Criminal Court (ICC) accused Russia of breaching these conventions as well as the US making the same claim, both very early on in the invasion of Ukraine. Both Ukraine and Russia are not a member of the ICC however, Ukraine has accepted their jurisdiction and so cooperation with the court say the ICC.
There are multiple investigations in place with evidence building up as lawyers aground the world work to build cases against Russian troops and in some cases even charges against Putin is the aim.
Ukraine have relied on the support from the west, providing ammunition and troops, however with their aid becoming less dependable they face a struggling defeat. The long-term commitment of Ukraine’s allies are beginning to be questioned.
Ukraine is in desperate need of further military aid and whilst the US and UK have been steadfast in their pledges there has been a recent slowdown of actions. This delay in action has already caused the Ukrainian soldiers to be left short when they needed aid the most.
The Japanese Prime Minister, Kishida Fumio pledges his “unwavering support” during a speech as the Japan-Ukraine Conference in February 2024.
The Diplomat paper reminds us that legal restrictions prevent Japan from sending lethal aid so instead it largely focuses on humanitarian, economic, and non-lethal military aid.
Japan is offering…
The world would never have imagined the war would go on for this long and yet there is no end in sight now two years later.
With both Ukraine and Russia continuing their battle and urging for more weaponry, the negotiations have reached a worrying stalemate. Without any movement and only more violence there is concern for how much more disruption the war is causing for thousands of people.
Every year thousands of people flee their home countries to migrate to the UK. Often people will have to enter through unsafe routes such as small boats and this will likely cause them to have a traumatic journey before they arrive.
Those who leave their home countries often do so to escape from war, violence and the threat of persecution. The urge to find a better and safer life fuels people to take these risky journeys even without the correct legal authorisation to do so.
“In the year ending June 2023, there were 52,530 irregular migrants detected entering the UK, up 17% from the year ending June 2022. 85% of these arrived via small boats.”
Once people arrive in the UK they can apply as an asylum seeker, however, this is not possible until they are physically in the UK, leaving no legal, safe way to migrate. The government estimates that in the year ending, June 2023, 90% of arrivals from small boats had an asylum claim recorded as a main applicant or dependent. The process could take years until people receive the authorisation to be a resident in the UK.
74% of all small boat asylum applications since 2018 are awaiting a decision and only 1% of the arrivals in the year ending June 2023 have received an initial decision. People will remain detained until a decision has been made.
If permission is denied to stay in the UK this would make someone an irregular migrant in the UK which makes it more difficult to acquire regular status again. A person could be removed from the county and banned from re-entering for 1-10 years.
In July 2023 the UK government passed the Illegal Immigration Act which restricts those who enter the UK without the correct documentation.
This act means that irregular migrants will be detained and then removed to their home country or a safe third country such as Greece or Rwanda. This process could take years whilst the families and individuals will have to remain detained and unable to work, generate an income, receive access to education, and proper healthcare and be witness to potentially scarring scenes.
The Government have laid out the aims for this act…
If irregular migrants are forced to relocate from the UK they will either be sent to their home country or a safe third option.
In 2022 Boris Johnson agreed to a Migration and Economic development partnership whereby those who enter the UK illegally and who are not granted authorisation to stay will be relocated to Rwanda.
Only a small number of people will be accepted into Rwanda each year due to what their system can handle.
The Supreme Court ruled against this policy stating that Rwanda was not a safe option due to inadequacies in their asylum system. In response, the UK Government agreed to a new treaty to update and replace policies in order for Rwanda to be declared a safe country for asylum seekers.
Rwanda is now stated as safe and there would be no argument for irregular migrants to stand on unless they in particular would be unsafe there. The treaty aims to deter people from making the unsafe journeys to the UK as they could be sent to Rwanda once they arrive.
Illegal immigration is an act of seeking protection and refuge from another country without legal documents when one's own is unsafe. It can be difficult to acquire the correct authorisation to legally stay in the UK and the process could last years before a decision is made. This often leads to people being unable to work and receive the resources needed for healthy wellbeing. The immigration laws in the UK are often changing and for those who seek asylum, it could become more challenging to receive a positive outcome.
DAC Beachcroft’s Commercial Technology team successfully advised CoBa Technology on a deal with Lloyds Banking Group to offer next-level digital solutions to commercial banking clients.
Tim Ryan, Partner, and head of the national technology team at DACB, said
"We were delighted to work with the fantastic team at CoBa on a deal that is helping the company continue to realise its vision of re-imagining the way businesses and banks collaborate."
Carl Hasty, CEO and Co-Founder at CoBa, commented,
"We're very grateful to the DAC Beachcroft team for their invaluable advice during this important business win for CoBa."
I have known one of the entrepreneurs behind CoBa for many years, having initially met him via mutual contacts in FinTech. I always say that the best relationships are long-term; they build understanding and trust. Having been introduced to the rest of the senior CoBa team and discussed what was required, I was pleased that we were chosen to advise them on this deal. The DACB team was led by me and Senior Associate Alistair Cooper, with the support of others in our specialist group.
The key is always to understand the commercial and operational drivers of the parties and, certainly, to be embedded in the detail of the technology underpinning the deal. This is something we focus on heavily in our team, as well as delivering legal and strategic advice on time and on budget, of course.
CoBa's cloud-hosted connected banking platform is, in conjunction with Lloyds Bank, transforming the collaboration between the bank and its business customers by connecting core financial information and services to create an all-in-one digital banking solution. Through the platform, customers can have all their banking needs supported in one place so they can enjoy seamless banking, quickly make informed decisions and scale with confidence.
The deal is testament to the work of our DACB team, in supporting companies that are disrupting financial services markets through innovation. The team works closely with clients to help them navigate every step of their business lifecycle in the technical and regulated sector in which they operate. We understand the underlying technology behind the commercial solutions pursued by our clients. We speak the language of those in FinTech, from the positive tech disruptors to the financial institutions, understand their commercial needs and market nuances, and apply our legal, regulatory, and commercial expertise to enable our clients achieve their business goals. We work for developers, suppliers and procurers of IT and digital solutions, so we understand the complex and often unique challenges and opportunities across a wide spectrum of client types and markets. In addition, we are entrenched in the complex and evolving regulatory and legal framework, including a network of senior decision makers in the UK Government, key industry bodies (e.g. the Investment Association), the regulators of the financial services industry and leading global financial institutions. Our team combines a relevant cross-skill set including technology, commercial, corporate, regulatory (financial markets), data, IP – in short, it is our sweet spot.
The national Commercial Technology team at our firm which I head-up is one of the largest in the UK, with over 40 lawyers advising clients domestically and internationally across all sectors and all types of projects and business-as-usual work. The team regularly advises on issues ranging from day-to-day contractual matters to complex digital transformation projects.
We are at the forefront of positive disruption and digital evolution, within financial services and other key vertical sectors, including healthcare, insurance, and real estate. This is driven by our expertise and reputation, built as a result of helping our clients deliver value on landmark projects and industry firsts. Naturally, it enhances our profile and credibility in the market, and builds a strong brand equity, in the emerging and deep tech space, including AI, financial platforms, data, blockchain and web3, for example. Our clients see us as key specialists in these areas; as enablers and experts in technology and business, rather than just specialists in the law itself. Ultimately it's about people – I'm proud to say my team is full of them. This is one of the reasons our clients work with us on a repeat basis, I believe.
Cases of fraud have been growing rapidly in volume as well as, cost and complexity. Fraudsters are finding more complex and stealthy ways to commit the crime.
AI is being used by the fraudsters as well as the victim using it as a defence. SEON reported that 87% of fraud experts predict an increase in fraud for 2024 as in 2023 fraud in the UK had more than doubled.
Reported cases rose by 18% and high value cases which are those over £50m rose by 60% in 2023.
The use of technology gives people access to far more people from all over the world making it easier to reach more people at once too. Online scams are prevalent and in 2023 Barclays reported that 70% of scams were on social media. The use of AI makes these scams far more believable and the fraudsters can be smarter by impersonating a trusted organisation.
Phising has become a popular technique, using emails to pose as a reputable company to gather personal details such as passwords, credit card information or addresses.
The cost-of-living crisis has made individuals and businesses more desperate and provides an incentive to commit fraud.
“Fraud accounts for around 40% of all crime in England and Wales, with an estimated 3.2 million offences each year.”
The Crime Survey of England and Wales has found the estimated cost of fraud to society is £6.8 billion.
High value cases of fraud rose by 60% in 2023, usually meaning a business or wealthy individual has committed fraudulent acts.
BDO conducted a study to discover which types of fraud are currently the most common by value.
The Government have now launched their campaign to prevent fraud, “Stop! Think Fraud.”
This campaign will spread awareness so people can be better protected from fraud. The Government is working with banks and organisations such as Barclays, Google, TikTok, The National Crime Agency and more so they can spread the message and be there to prevent and support.
Next month we can expect another strategy commitment to be delivered as the Home Secretary will welcome interior ministers from international partners to London where they will host the first ever Global Fraud Summitt.
The UK making legislative changes could drive up the statistics as they work to bring down the cost of the courts.
-The Economic Crime and Corporations Transparency Act’s new “failure to prevent” fraud offence is going to hold companies liable for any offences committed by an associate to benefit the organisation. If they can prove that they had reasonable fraud prevention procedures in place the charges could be dropped. This could add to the value of fraud cases despite the regulation being there to hold those accountable.
- Banks regulations are changing so that the banks will have to reimburse victims of APP frauds. This will add to the reported cases statistics.
It is likely that fraud will continue to increase in volume and value as strategies can become smarter and more efficient with the use of technology.
The Alberto Sordi Gallery was built in 1900 and has since held architectural value for the city. It is being reopened to hold 15 shops. The Gallery is located in the centre of Rome with famous landmarks such as the Pantheon or Fontana di Trevi close by. The reopening will bring a new shopping and leisure experience to the city.
Prelios sgr is the management company of the Megas Fund, whose the only shareholder is the Enasarco Foundation, in the complex administrative procedure that led to this grand reopening after two years of work so far.
The law firm Gattamelata e Associati, assisted Prelios sgr, for administrative law aspects.
“Three years of procedural activity returns an iconic property to Rome and enjoyable by its citizens.”
www.gattamelataeassociati.it/en/
Oncodesign Services is a French based, leading company in preclinical research and contributes to the development of innovative therapies in oncology, inflammation and infectious diseases. ZoBio is a Dutch based company that offers its customers solutions for fragment-based drug discovery, they use biophysical techniques for their innovative work in the field of drug discovery.
This acquisition of ZoBio allows Oncodesign to become a European leader in drug discovery and they will be able to expand their reach in Europe and further their expertise as well as what they are able to offer their customers.
Axon Lawyers (based in Amsterdam) advised ZoBio during this transaction.
“It was a pleasure to work with the driven and knowledgeable Zobio team on this deal.“ -- - Carine van den Brink, partner Axon Lawyers
