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Basch & Rameh Advogados Associados |

Kenneth D Basch

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Basch & Rameh Advogados Associados | Brazil | 26 May 2021

Fractional ownership programme: unwinding a new future

Fractional ownership is a means of aircraft ownership that is usually coupled with a programme which covers various aircraft owned by more than one party, all of which are placed in an exchange pool. By purchasing an interest in an aircraft that is part of a programme, an owner gains close to round-the-clock access to a private aircraft. In light of a recent clarification to fractional......
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Basch & Rameh Advogados Associados | Brazil | 17 Mar 2021

Withholding tax provokes widespread lease defaults

Issues relating to withholding tax have long plagued the Brazilian airline sector. When the special rates of 0% and 1.5% for aircraft rents became ineffective in 2021, the rate soared to 15%, which is the general rate applicable to cross-border leases of any equipment. The latest developments have resulted in confusion, widespread lease defaults and erratic payments from Brazil's airlines.
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Basch & Rameh Advogados Associados | Brazil, USA | 18 Nov 2020

Use of GATS in Brazilian aircraft transactions

In June 2020 the Global Aircraft Trading System (GATS) was launched to facilitate aircraft trading and financing by reducing the burden on industry participants – in particular, airlines. Since the GATS relies on the use of trusts, a traditional common law concept, a question arises as to whether the GATS can be used in jurisdictions such as Brazil that are not based on common law.
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Basch & Rameh Advogados Associados | Brazil | 29 Jul 2020

Home office closings in Brazil

The COVID-19 crisis has brusquely forced businesses and professionals to close offices and work from home. Luckily, the Brazilian government began implementing measures relating to electronic filings and electronic signatures approximately 20 years ago, all of which have made closing aircraft deals from home offices relatively easy. The Brazilian Aeronautical Registry has adjusted some of its......
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Basch & Rameh Advogados Associados | Brazil | 10 Jun 2020

Withholding tax on aircraft lease rentals – new rules finalised

Brazil's airlines are now being subjected to a withholding tax that has not been charged on most leases for more than three decades. Airlines may be able to successfully challenge the legality of the withholding tax; however, this will require dedication of legal and administrative resources that might have been used elsewhere to fortify the airlines. In any event, under the final text of the......
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Basch & Rameh Advogados Associados | Brazil, OECD | 22 Apr 2020

Emergency draft legislation may violate Cape Town Convention

A draft law providing emergency relief due to the COVID-19 pandemic has been submitted to the lower house of Congress. The impact of the draft law on the rights of aircraft lessors would be significant and would place into question Brazil's compliance with the Cape Town Convention on International Interests in Mobile Equipment and the Protocol to the Convention on Matters Specific to Aircraft......
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Basch & Rameh Advogados Associados | Brazil | 15 Apr 2020

Aviation industry trends – Brazil

The fallout from the COVID-19 pandemic looks set to cast a long shadow over the Brazilian aviation sector in 2020. The government has announced plans to assist airlines, but the possible relief efforts look set to affect Brazil's adherence to the Cape Town Convention and the Montreal Convention. This video examines these relief measures as well as Brazil's electronic filing system, which has......
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Basch & Rameh Advogados Associados | Brazil | 15 Jan 2020

Changes in Brazilian withholding tax

The Federal Government recently issued an executive order with the potential to change the tax treatment of commercial aircraft leasing. Subject to that determination, the executive order sets new rules for commercial aircraft and engine leases. However, the executive order has created considerable confusion and doubts in the aviation sector.
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Basch & Rameh Advogados Associados | Brazil | 28 Aug 2019

Aircraft repossession in bankruptcy – Brazilian judiciary's inconsistent treatment of lessors

A number of recent aircraft repossession actions have demonstrated that a majority of judges have correctly recognised lessor rights to repossession in the face of apparent lease agreement defaults. However, these decisions have not clearly cited the Cape Town Convention as their basis. The Brazilian judiciary's failure to unify repossession actions against a bankrupt lessee in a single court......
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Basch & Rameh Advogados Associados | Brazil | 12 Jun 2019

Aircraft repossession: judiciary fails to uphold local law or Cape Town Convention

Following developments earlier in 2019, aircraft repossession has continued to be in the spotlight – yet again with regard to the Oceanair Linhas Aéreas SA (commonly known as 'Avianca Brazil') bankruptcy and, in particular, the experience of lessors that sought repossession of leased aircraft therefrom. In this case, and contrary to Avianca Brazil's pre-bankruptcy experience, a bankruptcy......
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