The Brazilian Competition Authority agrees to suspend deadline for implementing certain antitrust compliance commitments undertaken in a cartel case Settlement Agreement due to COVID-19 pandemic (Basso / Valbrás)

Due to the impacts of the Covid-19 outbreak, the Brazilian Antitrust Authority (“CADE”) agreed to suspend the deadline for implementation of some antitrust compliance commitments undertaken in a Settlement Agreement (“Settlement”) in the context of a cartel investigation. In this short note we will address a brief overview about a recent precedent and also take the opportunity to provide some straightforward and practical highlights on CADE’s functioning in the time of Covid-19 pandemic. The precedent in a brief summary As part of the commitments to execute a Settlement with CADE, [1] among others, the companies Basso and Valbrás [2] (“Signatories”) agreed to implement an Antitrust Compliance Program [3] within 2 years upon the signature of the Settlement. [4] A schedule of activities