tag

Brazil’s central bank is facing extraordinary scrutiny over its decision to liquidate Banco Master SA, a rare instance of judicial intervention that risks undermining the legal certainty of its regulatory decisions.Both the country’s Supreme Court and Audit Court are seeking details about the move, with the regulator facing a looming deadline to provide information. The liquidation followed months of investigations into Banco Master’s operations and its politically connected Chief Executive Officer, Daniel Vorcaro, who spent about a month in jail before being released with an ankle monitor.The central bank found evidence suggesting attempted fraud in the proposed sale of Master to Banco de Brasilia SA, an institution owned by the Federal District government. The findings were forwarded to the federal police and the federal public prosecutor’s office, which sought the arrest of Vorcaro and other executives on November 17.It is the first time a decision falling under the central bank’s exclusive jurisdiction has come under scrutiny by Brazil’s highest courts, underscoring the challenges policymakers face in navigating Brasilia’s web of political connections — terrain that Vorcaro has long been adept at exploiting.The central bank didn’t respond to a request for comment.Vorcaro is facing allegations that his bank fabricated credit operations that were later sold to Banco de Brasilia. His lawyers argue that the portfolios targeted by investigators were never effectively transferred and that Banco de Brasilia instead purchased other portfolios not included in the probe.In early December, Supreme Court Justice Dias Toffoli moved to take control of the investigation after a defence lawyer argued that police actions could affect individuals with parliamentary immunity. Among documents seized during a search of Vorcaro’s home was paperwork related to a real estate transaction involving a federal lawmaker. Although unrelated to the Master investigation, Toffoli ruled the document sufficient to require that “any legal action be evaluated beforehand by this court rather than by a lower court.”Over Christmas, Toffoli scheduled a confrontation hearing for December 30 between Vorcaro; former Banco de Brasilia chief Paulo Henrique Costa, who was fired after the investigation became public; and central bank supervision director Ailton de Aquino.The hearing was scheduled without any request from either the federal police or the public prosecutor’s office. The attorney general’s office advised against it, arguing that such a procedure should only take place after those involved in the probe have been questioned individually.Toffoli has offered no further explanation for summoning Aquino, whose role at the central bank is supervision —not decision-making regarding the sale of Master to Banco de Brasilia. Central bank President Gabriel Galipolo has said he is willing to appear before the Supreme Court to explain the regulator’s actions.“As president, I am available to the Supreme Court to provide all the data that we have already provided to the public prosecutor’s office and the federal police. We have documented everything: Each of the actions taken, each of the meetings, exchanges of messages, communications, all of this is duly documented. I, in particular, am available to provide all kinds of support and assistance to the investigation,” he said on December 18 in a presser.On the same day, Audit Court Minister Jhonatan de Jesus opened a separate investigation into the central bank, citing potential failures in its supervision of Master. According to his ruling, the regulator’s actions “may have been marked by omissions and insufficiently timely responses to signs of the institution’s financial deterioration, undermining the effectiveness of the regulatory framework and increasing systemic risk.”Critics have long argued that the central bank took too long to liquidate a lender that was clearly in distress. As with the Supreme Court inquiry, the audit court investigation is under seal.Once touted as a rising star in Brazilian finance, Master attracted billions of reais from retail investors through investment platforms, promoting its bonds as safe because they were backed by Brazil’s deposit insurance system, the Credit Guarantee Fund, or FGC. The fund covers up to 250,000 reais per investor, capped at 1mn reais over four years.A central bank rule change in December 2023 tightened access to the FGC, punching a hole in Master’s business model. A second rule change, approved in August, will require banks to contribute to the fund based on their risk profile starting in June 2026.The liquidation of Master could cost the FGC as much as 55bn reais ($10bn) if other smaller banks also fail, according to a person familiar with the matter. The fund would need to be replenished by Brazil’s largest banks. 

The US Coast Guard is pursuing an oil tanker in international waters near Venezuela, officials told Reuters Sunday, in what would be the second such operation this weekend ⁠and the third in less than ⁠a week if successful."The United States Guard is in active pursuit of a sanctioned dark fleet vessel that is part of Venezuela's illegal sanctions evasion," a US official said. "It is flying a false flag and under a judicial seizure order."Another official said the tanker was under sanctions, but added that it had not been boarded so far and that interceptions can take different forms – including sailing or flying close to vessels of concern.The officials, who were speaking on the condition of anonymity, did not give a specific location for the operation or name the vessel being pursued.The White House did not immediately respond to a request for comment.Last week US President Donald Trump announced a "blockade" of all oil tankers under sanctions entering and leaving ⁠Venezuela.Trump's pressure campaign on Venezuelan President Nicolas Maduro has included a ramped-up military presence in the region and more than two dozen military strikes on vessels in the Pacific Ocean and Caribbean Sea near the South American nation.At least 100 people have been killed in the attacks.The first two oil tankers seized were operating on the black market and providing oil to countries under sanctions, Kevin Hassett, director of the White House's National Economic Council, said in a TV interview Sunday."And so I don't think that people need to be worried here in the US that the prices are going to go up because of these seizures of these ships," Hassett said on CBS's *Face the Nation programme. "There's just a couple of them, and they were black market ships."However, one oil trader told Reuters that the seizures may ⁠push oil prices slightly higher when Asian trading resumes today."We might see prices increasing modestly at the opening, considering market participants could see this as an escalation with more Venezuelan barrels at risk as the tanker was not on a US sanctions list," UBS analyst Giovanni Staunovo said.Another analyst said the seizures raise geopolitical risks and are likely to raise friction in the shadow fleet of vessels that move oil from sanctioned countries like Venezuela, Russia and Iran.The seizures could legitimise and encourage Ukraine to continue attacking Russian vessels and possibly encourage Europe to detain Moscow-linked dark fleet vessels as well, said Matias Togni, oil shipping analyst at NextBarrel.Venezuelan and Iranian oil output is already showing signs of slowing, Togni said, adding that he expects the same to happen with Russia.Oil from countries under sanctions is likely to be offered at steeper discounts as logistics become more expensive, which could help cap the gains in benchmark ⁠oil prices, he said.After the second US seizure of an oil tanker off Venezuela, Caracas deemed it a "theft and kidnapping", saying that "those responsible for these serious events will answer to justice and to history for their criminal conduct”.That vessel, Centuries, is a Chinese-owned, Panama-flagged oil tanker, according to TankerTrackers, an online service monitoring oil shipments and storage.It said that Centuries loaded 1.8mn barrels of crude oil at a Venezuelan port earlier this month before being escorted out of Venezuela's exclusive economic zone on December 18.The VesselFinder database also listed the ship's last recorded location as off the Venezuelan coast.An AFP review found that Centuries does not appear on the US Treasury Department's list of sanctioned companies and individuals.On December 10, US forces seized a large oil tanker off the coast of Venezuela, which the attorney-general said was involved in carrying sanctioned oil from Venezuela to Iran. 

The Civil Service and Government Development Bureau (CGB) confirmed that employees are not required to submit any paper certificate to prove marriage in order to receive the annual marriage and marital status incentive. The electronic link with the Supreme Judicial Council is already in place and automatically verifies marriage data, eliminating the need for any paper documents.In a post on its X platform, the Bureau indicated that it continuously utilizes this electronic link to automate processes and streamline procedures for employees. The Bureau noted that entities not using the "Mawared" system can contact the Supreme Judicial Council directly to complete the technical link and verify employee data.It reiterated that employees are not required to submit any paper documents related to marital status and that electronic verification via the approved link on the government data exchange platform is sufficient. If marital status data appears outdated, the employee can be instructed to update it with the Supreme Judicial Council to ensure verification through the electronic link.The new amendments to the Human Resources Law included several benefits that promote work flexibility and support employees' family lives. Among the most prominent is the granting of an annual marriage incentive of 12,000 Qatari Riyals to married Qatari employees, effective January of each year, provided that one year has passed since the date of marriage and both spouses are Qatari citizens. Additionally, both spouses will now receive the social allowance at the "married" rate, whereas previously one spouse received the "married" allowance while the other received the "single" allowance. 

A court decision to remove three children from their Anglo-Australian family's home in the woods has become a political flashpoint in Italy, where there is wider debate over alleged judicial overreach.Prime Minister Giorgia Meloni — leader of a hard-right government that champions family values — is reportedly concerned about the case near Chieti, in the eastern Abruzzo region, where the family has been living off-grid since 2021.On Thursday, the juvenile court of nearby Aquila suspended the couple's parental responsibility and ordered the transfer of the children to a protective home with their mother.The court cited poor sanitary conditions at the home, and the unauthorised homeschooling of the couple's eight-year-old girl and six-year-old twin boys.The decision prompted a wave of verbal attacks and threats online against the judge, while a petition to "save the family that lives in the woods" has gathered over 135,000 signatures.Italy's deputy prime minister and leader of the far-right League party, Matteo Salvini, has called the judge's actions "unworthy, worrying, dangerous and shameful", describing it as a "kidnapping" of the minors."Judges and social workers in Abruzzo, don't be a nuisance," he said, pointing to a need for judicial reform.Defending their lifestyle as one "without stress" and in harmony with nature, Australian Catherine Birmingham and Briton Nathan Trevallion told national broadcaster Rai this month that their children were "growing up better" in their home in the woods.A tour of the home given to Rai showed a wood-burning stove in a kitchen, colourful children's beds covered with stuffed animals, and Christmas lights strewn about the home.Electricity is provided from solar panels, while the toilet is compostable and located in a shack outside, where a donkey, horse, dogs, cats, chickens and ducks roam a clearing among the trees."The children are happy, healthy. We haven't done anything wrong if we want to return to nature," Birmingham told Rai in halting Italian.But local media has reported that the children are not vaccinated and do not go to school, with the parents having failed to submit their request for homeschooling to local authorities.Monday afternoon, the education ministry issued a press release saying the region's education office had confirmed that "compulsory schooling has been regularly completed through home education" legal in Italy, according to news agencies.Social workers were called last year after one of the couple's children ingested poisonous mushrooms and was taken to hospital, reports said.The power of judges has generated public debate in Italy, as Meloni's flagship justice reform — which includes separating the careers of judges and prosecutors — heads for a referendum next year.Judges have decried interference by the government, saying the reform will curb their independence, while the government accuses the judiciary of political bias.Magistrates associations have defended the Aquila court's decision to remove the children and slammed what they called exploitation of the case for political purposes."We reject any form of exploitation expressed in recent days by some political factions and the media, which fail to consider the complexity and sensitivity of the rights in question," said the Italian Association of Magistrates for Minors and for the Family.In a press release, it noted that the court's decision came after a year-long observation period "during which the court's orders were systematically disregarded by the parents".Monday, the Superior Council of the Judiciary (CSM), which is tasked with judicial independence and disciplinary matters, opened a procedure to protect the magistrates in question.It said recent statements from politicians "go beyond legitimate criticism of a judicial act and end up directly affecting the work of the magistrates of the Juvenile Court, exposing them to undue pressure, including through the media".A lawyer for the British father and Australian mother, Giovanni Angelucci, did not respond to requests for comment by AFP.The British embassy said it was providing consular assistance but would not comment further.

Massacres of Alawite minority marked worst bloodshed since Assad was toppled in DecemberNearly 1,500 Alawites killed in March, Reuters investigation foundFormer rebel leader, now president Sharaa has promised accountability over violenceSyria Tuesday began the first trial of suspects in a wave of bloodshed in March during which pro-government fighters killed hundreds of members of the Alawite minority - a case seen as a test of President Ahmed al-Sharaa's promise of accountability.Judicial sources said the group of a dozen defendants was evenly split between people alleged to have taken part in attacks on Alawite communities, and others accused of taking part in attacks on government forces by militias loyal to ousted former president Bashar al-Assad, which sparked the violence.The bloodshed marked one of the worst eruptions of violence since rebels led by Sharaa toppled Assad, in December, ending 54 years of autocratic rule by the Assad family. The defendants went on trial in a public session at the Aleppo Court of Justice in northern Syria.The judicial sources said they faced charges that included fomenting civil war, secession, premeditated murder and looting. Defendants from both sides were questioned on charges of killing civilians and forming militias that carried out attacks on army checkpoints and government installations, according to a source in court and a televised broadcast of the proceedings.The prosecutor general has pressed charges against around 300 people linked to armed factions affiliated with the army, and around 265 who belonged to Assad-era paramilitary groups, Jumaa al-Anzi, head of a fact-finding committee appointed by Sharaa, said in comments carried by Syrian media reports of the trial. It is unclear how many are currently in detention.A Reuters investigation published in June found that Syrian forces killed nearly 1,500 Syrian Alawites from March 7 to 9. The attacks came in response to a day-old rebellion organised by former officers loyal to Assad that left 200 members of the security forces, according to the government. A Syrian government fact-finding committee reported in July that 1,426 people had died in March in attacks on security forces and subsequent mass killings of Alawites.COMMITMENT TO ACCOUNTABILITYOfficials say the authorities are committed to accountability in a new era that ends a dark phase of secretive authoritarian rule, noting it was previously unheard of in Syria to put members of the security forces on trial for crimes. Anti-government activists and Alawite lobbyists say the process is not independent and amounts to a sham by the authorities.UN investigators said in August that war crimes were probably committed by interim government forces as well as by fighters loyal to Syria's former rulers during the violence. Sharaa denounced the violence as a threat to his mission to unite Syria and pledged to hold those responsible to account.A senior Justice Ministry official said the trials mark the start of a long process that would also hold to account those responsible for atrocities during the Assad family’s long rule. “The trials won’t stop at the coastal violations. They will continue to include the leading criminals who perpetrated crimes and mass killings in past years,” Deputy Minister of Justice Mustafa al-Qassem told state media.

The Qatar International Court and Dispute Resolution Centre (QICDRC) has participated in the recent 6th full meeting of the Standing International Forum of Commercial Courts (SIFoCC), held in New Delhi, India.The gathering brought together high-level delegations representing about 68 commercial courts from around the world, including chief justices, presidents of judicial councils, and senior judges.This strong international presence reflects the increasingly important role of commercial courts in strengthening confidence in the rule of law and building stable, attractive legal and economic environments that support global investment.Faisal Rashid al-Sahouti, QICDRC chief executive officer highlighted the key role played by it in supporting international judicial co-operation and advancing commercial justice systems.SIFoCC serves as a leading platform for the exchange of expertise and best practices, and for strengthening collaboration among commercial courts worldwide — an effort that facilitates cross-border trade and enhances the efficiency and integrity of international judicial processes, according to him.The meeting’s sessions covered a wide range of pressing topics, including advancing international judicial convergence through the development of shared standards and practices to support the recognition and enforcement of commercial judgments across borders.Discussions also explored the implementation of arbitration and mediation awards, as well as practical mechanisms for document exchange and witness hearings between different judicial systems.Participants examined issues relating to corporate legal responsibility in light of global challenges such as climate change, digital transformation, and the expansion of private finance, and the implications of these developments for commercial law.In addition, the sessions addressed the use of artificial intelligence within judicial systems, underlining the importance of establishing clear ethical frameworks to safeguard judicial independence and uphold the principles of fair trial.QICDRC had hosted the 5th full meeting of SIFoCC in Doha in April 2024, continuing Qatar’s efforts to strengthen international judicial co-operation and promote professional dialogue among commercial courts.That meeting underscored Qatar’s position as a leading centre for commercial justice and a hub for the resolution of international business disputes.Established in 2017 as a global judicial initiative, SIFoCC provides a unique platform for collaboration between commercial courts from diverse legal systems.With 68 member courts worldwide, the forum works to promote professional cooperation, exchange judicial expertise, and develop practical mechanisms for resolving cross-border commercial disputes — contributing to greater stability in global commerce and enhancing confidence in the legal frameworks that underpin the world economy.

The Qatar International Court and Dispute Resolution Centre (QICDRC) has participated in the recent 6th full meeting of the Standing International Forum of Commercial Courts (SIFoCC), held in New Delhi, India.The gathering brought together high-level delegations representing about 68 commercial courts from around the world, including chief justices, presidents of judicial councils, and senior judges.This strong international presence reflects the increasingly important role of commercial courts in strengthening confidence in the rule of law and building stable, attractive legal and economic environments that support global investment.Faisal Rashid al-Sahouti, QICDRC chief executive officer highlighted the key role played by it in supporting international judicial co-operation and advancing commercial justice systems.SIFoCC serves as a leading platform for the exchange of expertise and best practices, and for strengthening collaboration among commercial courts worldwide — an effort that facilitates cross-border trade and enhances the efficiency and integrity of international judicial processes, according to him.The meeting’s sessions covered a wide range of pressing topics, including advancing international judicial convergence through the development of shared standards and practices to support the recognition and enforcement of commercial judgments across borders.Discussions also explored the implementation of arbitration and mediation awards, as well as practical mechanisms for document exchange and witness hearings between different judicial systems.Participants examined issues relating to corporate legal responsibility in light of global challenges such as climate change, digital transformation, and the expansion of private finance, and the implications of these developments for commercial law.In addition, the sessions addressed the use of artificial intelligence within judicial systems, underlining the importance of establishing clear ethical frameworks to safeguard judicial independence and uphold the principles of fair trial.QICDRC had hosted the 5th full meeting of SIFoCC in Doha in April 2024, continuing Qatar’s efforts to strengthen international judicial co-operation and promote professional dialogue among commercial courts.That meeting underscored Qatar’s position as a leading centre for commercial justice and a hub for the resolution of international business disputes.Established in 2017 as a global judicial initiative, SIFoCC provides a unique platform for collaboration between commercial courts from diverse legal systems.With 68 member courts worldwide, the forum works to promote professional cooperation, exchange judicial expertise, and develop practical mechanisms for resolving cross-border commercial disputes — contributing to greater stability in global commerce and enhancing confidence in the legal frameworks that underpin the world economy.

A new batch of experts took the legal oath this morning at the Ministry of Justice to be registered in the Ministry of Justice's roster of experts accredited before the judicial authorities in the country, in accordance with the regulations stipulated in Law No. (16) of 2017 regulating expert work. The new batch includes (12) experts from national cadres, with expertise in various specializations, including accounting, real estate, mechanical engineering, electrical engineering, mining engineering, civil engineering, and human resources. On this occasion, Director of the Experts Department at the Ministry of Justice, Abdullah Abu Shahab Al Marri congratulated the new experts on their taking of the legal oath. He emphasized the importance of the role of experts as assistants to judges and one of the pillars of achieving prompt justice, based on their legal responsibility to present evidence and proof regarding the technical aspects related to various cases, and the role expert reports play in expediting the issuance of judgments and the adjudication of cases. The Director of the Experts Department at the Ministry of Justice noted that the Ministry of Justice, upon the directives of His Excellency Minister of Justice and Minister of State for Cabinet Affairs Ibrahim bin Ali Al Mohannadi, is keen to strengthen the national cadre of experts and provide expertise that keeps pace with the comprehensive renaissance witnessed by the country in all fields, and to create the appropriate conditions for providing an integrated Qatari expertise system and adding new areas of expertise according to the needs of the judicial authorities and other entities.

Qatar took part in the 35th meeting of Their Excellencies GCC Ministers of Justice, held Thursday in Kuwait, reaffirming its commitment to strengthening legal and judicial cooperation among member states. His Excellency Minister of Justice and Minister of State for Cabinet Affairs, Ibrahim bin Ali Al Mohannadi, led the Qatari delegation. The ministers discussed key topics aimed at enhancing joint legal frameworks across the region. These included a draft unified policy to bolster collaboration among justice ministries, proposed unified regulations to combat discrimination, hate speech, and religious intolerance, as well as a unified framework for tackling cybercrimes in the GCC. The meeting also reviewed reports and outcomes from preparatory meetings, including the gathering of directors of legal and judicial training centers, and the committee of international cooperation officials in GCC justice ministries.