Richards Kibbe & Orbe LLP successfully represented the Inter-American Development Bank (IDB) in an action to enforce loan guarantees issued by two international companies in connection with a $150 million loan that had been extended to fund four wind energy projects in Brazil and Uruguay. A New York federal judge granted the Inter-American Development Bank’s motion for summary judgment and awarded our client a $169 million judgment.
The IDB is an international institution owned by 48 member countries including Argentina, Brazil and the United States. Since its founding in 1959, the IDB has become the largest source of development financing for Latin America and the Caribbean. RK&O partner David W.T. Daniels represented the Inter-American Development Bank in this action.