Top 10 Corporate/Company Law Headlines from South America Before addressing any development occurred in Brazil in 2009 which may affect mergers and acquisitions in general – the so-called M&A transactions - it is important outline the legal framework and current scenario in which these negotiations are conducted. "Labor Courts in Brazil are very reluctant to accept the universal jurisdiction of the Bankruptcy Court in the case of labor claims of companies undergoing a judicial recovery plan. The Brazilian Federal Supreme Court confirmed the application of the Brazilian Bankruptcy Law in a leading case related to the acquisition by Gol of Varig´assets, ruling that the Bankruptcy Court has the authority to judge such claims." On June 23, 2009, the Board of the Brazilian Securities and Exchange Commission (“Comissão de Valores Mobiliários” – CVM) approved Opinion (“Parecer de Orientação”) No. 36, of the same dated, about statutory provisions imposing encumbrance(s) on shareholders who vote favorably to the elimination of the share dispersion protection clause inserted in the company´s bylaws. Through law 1258 of December 2008 Congress made one of the most substantial reforms in colombian commercial law. It created a new and innovative legal figure known as the Simplified Corporation. The Argentine Bankruptcy Law No 24,522, as amended (the 'Bankruptcy Law, contemplates three main insolvency proceedings. Recent changes in Peruvian insolvency laws will now allow financial institutions and insurance company counterparties to close-out and net obligations under derivatives and repurchase agreements with Peruvian financial institutions or insurance companies which become subject to bankruptcy proceedings. Belize Telecom Ltd (“the Company”) was incorporated to take over the undertaking of the Belize Telecommunications Authority. As a matter of legal principle, Argentine law should be applied to all contracts entered into in Argentina with a local party. The enormous growth and consequent sophistication of the Brazilian capital market has brought with it legal mechanisms typical of securities markets in an advanced stage of development. This article will explain the principle aims of creating a unipersonal company in Mexico, how the entity has already developed in other countries, the definition of a unipersonal company and what benefits it could bring for Mexicans and foreigners. | 
