Archive for November, 2015

Oppostion starts to coordinate resignation of lower House speaker

November 23, 2015

The maneuver of Chamber of Deputies speaker Eduardo Cunha (Brazilian Democratic Movement Party, PMDB, of Rio de Janeiro), who prevented last week that the Ethics Council evaluated an opinion requesting his ousting, was a mistake that should precipitate his resignation. The analysis is of an opposition leader who believes that Mr. Cunha has lost political support in Congress with his decision to suspend the council session, also saying that the speaker has less and less support among deputies. The resignation of the PMDB member would be a less traumatic alternative to a potential ousting, according to this parliamentarian. The opposition is about to start working behind the scenes with Mr. Cunha’s allies to persuade him to step down still this year. The resignation is seen by the opposition as a first step to carry out the impeachment of President Dilma Rousseff.

valor.com.br    23nov15
Waldemar Jezler

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Property developers to continue facing crisis in 2016

November 20, 2015

Real-estate developers are going through their worst period since a wave of IPOs in 2007. Demand has contracted, credit funded by savings accounts has become more restrictive, job and income levels have fallen, consumer confidence is low and developers have too big structures for the current market. “The sector needs a new equilibrium,” an analyst says.

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Eduardo Cunha maneuvers to avoid explusion from Chamber of Deputies

November 17, 2015

The presentation of a brief on admissibility of representation against Chamber of Deputies speaker Eduardo Cunha (PMDB Rio de Janeiro) before his defense could open a procedural front that could hamper the expulsion of the congressmen by the chamber’s ethics committee. The allegation of a denial of the right to defense could place the matter before the chamber’s judiciary committee (CCJ), a body where Mr. Cunha is represented by a majority and which is chaired by one of his closest allies, Arthur Lira (PP-AL), who has been accused in Operation Car Wash investigations as an intermediator of bribery. The possibility of this legal maneuver has already been mentioned by Mr. Cunha’s attorney, Marcelo Nobre. “The role of the CCJ is to re-establish due process of law,” said Mr. Nobre. Mr. Cunha has been under investigation for alleged receipt of up to R$5 million in bribes.

valor.com.br 11/17/15

Waldemar Jezler

 

Corruption investigations draw closer to Lula

November 3, 2015

Federal Public Ministry prosecutors and the Federal Police are intensifying investigations of former president Luiz Inácio Lula da Silva and his circle in at least six criminal fronts. A Criminal Investigative Procedure (PIC) opened in Brasília is looking into alleged influence peddling in favor of construction company Odebrecht. Operation Zelotes, in turn, investigates payments received by Mr. Lula\’s son, Luís Claudio, and the suspicion that former Chief of Staff Gilberto Carvalho acted on influence peddling and corruption with companies in the automotive sector. In Operation Car Wash, the investigations try to find out if a contract for drillship Vitoria 10000, contracted by Petrobras, would have been delivered to Schahin without a bidding process thanks to the mediation of agribusiness investor José Carlos Bumlai, a friend of Mr. Lula. In return, the Schahin bank would have settled a R$60 million debt of Mr. Lula\’s campaign in 2006. Operation Car Wash also investigates company payments to LILS, established by the former president for his lectures, and to the Lula Institute.

valor.com 11/3/15

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