DOING BUSINESS IN PORTUGAL A legal and tax perspective This guide provides general information to investors intending to operate in Portugal on legal issues on which they may need advice. It is not intended, and cannot be considered, as a comprehensive and detailed analysis of Portuguese law or, under any circumstances, as legal advice from Cuatrecasas, Gonçalves Pereira. This guide was drafted on the basis of information available as of October, 2015. Cuatrecasas, Gonçalves Pereira is under no obligation and assumes no responsibility to update this information. All rights reserved.

Judgment of the Court of Appeal of Lisbon of 02-06-2015

Interpretation of the intentions of a commercial company – Attribution of communications by members of corporate bodies – Signatures

Decision of the Supreme Court of Justice, No 117-B/1999.P1.S1., of 2015-01-08 Transforming companies – Partner – Resignation – Liquidation of the company – Judicial ruling – Feasibility – Decision

In this decision, the Supreme Court of Justice (“STJ”) was asked to give ruling on the feasibility of the decision that was presented as an enforceable title, which was delivered within a special procedure of liquidation of an equity interest presented by a creditor partner against a debtor company.

Judgment of the Court of Appeal of Porto of October 8, 2015 

Culpable insolvency – Duration of disqualification of the insolvent party

Judgement No. 362/2015 - Official Gazette No. 186/2015, Series II of 09/23/2015

The Constitutional Court ruled unconstitutional the provision of Article 100 of the Insolvency and Corporate Recovery Code, approved by Decree-Law No. 53/2004, of March 18, if interpreted as the declaration of insolvency provided therein suspends the limitation deadline of tax debts attributable to the responsible subsidiary responsible person according to the tax procedure.

Judgment of the Supreme Court of 08/10/2015

The perspective of a ahot summer arriving is an excellent opportunity to take a look at the most relevant events that occured on the second quarter of 2019.

On an international level, and in contrast with the previous quarters, few events are worth mentioning.

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 CONTENTS CORPORATE LAW NEWSLETTER I MARCH, 2017 I CAPITALIZAR PROGRAMME – PRESS RELEASE FROM THE COUNCIL OF MINISTERS OF 16 MARCH 2017 2 II NATIONAL LEGISLATION 5 III NATIONAL CASE LAW 6 NEWSLETTER I CORPORATE WWW.CUATRECASAS.COM NEWSLETTER I CORPORATE 2/7 NEWSLETTER CORPORATE LAW I CAPITALIZAR PROGRAMME – PRESS RELEASE FROM THE COUNCIL OF MINISTERS OF 16 MARCH 2017 One of the priorities of the programme of the 21st Constitutional Government is to reduce the high level of corporate borrowing and to improve conditions for investment, which is why the capitalisation of companies is one

I CORPORATE FINANCE, COVENANTS AND CREDITOR’S LIABILITY 2 II NATIONAL LEGISLATION 4 III EUROPEAN LEGISLATION 5 IV NATIONAL CASE LAW 5 NEWSLETTER I CORPORATE LAW WWW.CUATRECASAS.COM NEWSLETTER I CORPORATE LAW 2/6 CORPORATE LAW NEWSLETTER I CORPORATE FINANCE, COVENANTS AND CREDITOR’S LIABILITY Introduction In the field of corporate finance the liability of creditors that negotiate covenants with companies is an issue that currently generates great concern.

Supreme Administrative

Court Judgement of October 12, 2016

Case no. 0797/15

In this Judgment, the Supreme Administrative Court concluded that expenses related to employees, recorded as remuneration, salaries or wages, relevant to the limit of 15% foreseen for acceptance of the expenses with social benefits referred to in Article 43.2 of the CIT Code, are not limited to those that were subject to mandatory Social Security contributions.

South Central Administrative Court

Judgement of October 13, 2016