{"id":7522,"date":"2013-12-17T18:26:33","date_gmt":"2013-12-17T18:26:33","guid":{"rendered":"https:\/\/diazreus.com\/how-will-lawsuits-targeting-banks-affect-brazils-economy\/"},"modified":"2013-12-17T18:26:33","modified_gmt":"2013-12-17T18:26:33","slug":"how-will-lawsuits-targeting-banks-affect-brazils-economy","status":"publish","type":"post","link":"https:\/\/diazreus.com\/es\/how-will-lawsuits-targeting-banks-affect-brazils-economy\/","title":{"rendered":"How Will Lawsuits Targeting Banks Affect Brazil\u2019s Economy?"},"content":{"rendered":"

Q & A commentary by Fausto Sanchez <\/a>and Elizabeth Cantu<\/a>, associate attorneys at Diaz Reus & Targ LLP. \u00a0First published in Inter-American Dialogue\u2019s Latin America Advisor | Financial Services, Nov. 11, 2013<\/p>\n

Q: In February 2014, Brazil\u2019s Supreme Court plans to rule on lawsuits brought by bank depositors affected by banks\u2019 adherence to government policies to fight hyperinflation two decades ago. The suits could cost the banks, which include market leaders Itau Unibanco and state-held Banco do Brasil, a total of $65 billion\u2014more than a quarter of the banking system\u2019s equity. What is at statke in the case for Brazil\u2019s banking sector and the country\u2019s economy? Which way is the court likely to rule? What precedent could a ruling in this matter set for future cases related to other sectors or industries?<\/p>\n

A: \u00abIn February, the Brazilian Court is scheduled to rule on a landmark case, the outcome of which could significantly affect the\u00a0 country’s economy. Depositors have sued multiple Brazilian banks, both private and government controlled, to recover losses incurred through the implementation of government policies between 1986 and 1994. The Bresser, Ver\u00e3o and Collor plans, adopted under the presidencies of Jos\u00e9 Sarney and Fernando Collor, were designed to tame hyperinflation. These mandates required banks to take drastic measures, including freezing assets and bank accounts of depositors. The constitutionality of each plan has been attacked, and early indications of a projected outcome seem to be split. Analysts indicate the Supreme Court is likely to uphold lower court rulings regarding the Collor plans, which favored the banks. The suits against the Bresser and Ver\u00e3o plans, however, may result in judgments for the plaintiffs. If the Supreme Court rules in favor of the depositors, it could set a precedent that allows businesses to be held liable for steps they take to adhere to a governmental policy. A ruling in favor of the plaintiffs on all of the plans could cost the banks up to 150 billion reais ($65 billion). Such a judgment could send the Brazilian economy into a tailspin, as banks would likely raise the cost of credit significantly. With so much at stake, many expect the Brazilian Supreme Court to avoid the economic catastrophe and rule in favor of the banks.\u00bb<\/p>\n","protected":false},"excerpt":{"rendered":"

Q & A commentary by Fausto Sanchez and Elizabeth Cantu, associate attorneys at Diaz Reus & Targ LLP. \u00a0First published in Inter-American Dialogue\u2019s Latin America Advisor | Financial Services, Nov. 11, 2013 Q: In February 2014, Brazil\u2019s Supreme Court plans to rule on lawsuits brought by bank depositors affected by banks\u2019 adherence to government policies to fight hyperinflation two decades … Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":2884,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"rs_blank_template":"","rs_page_bg_color":"","slide_template_v7":"","inline_featured_image":false,"footnotes":""},"categories":[550,231],"tags":[687,646,756],"class_list":["post-7522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-eventos","category-articulos","tag-fausto-sanchez-es","tag-uncategorized-ru-36-es","tag-uncategorized-ru-83-es"],"acf":[],"yoast_head":"\nHow Will Lawsuits Targeting Banks Affect Brazil\u2019s Economy?<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/diazreus.com\/es\/how-will-lawsuits-targeting-banks-affect-brazils-economy\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Will Lawsuits Targeting Banks Affect Brazil\u2019s Economy?\" \/>\n<meta property=\"og:description\" content=\"Q & A commentary by Fausto Sanchez and Elizabeth Cantu, associate attorneys at Diaz Reus & Targ LLP. \u00a0First published in Inter-American Dialogue\u2019s Latin America Advisor | Financial Services, Nov. 11, 2013 Q: In February 2014, Brazil\u2019s Supreme Court plans to rule on lawsuits brought by bank depositors affected by banks\u2019 adherence to government policies to fight hyperinflation two decades ... 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