RK&O represents Carrera Holdings and Carrera S.p.A in NY Supreme Court victory

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June 30, 2016

Richards Kibbe & Orbe LLP litigation partner Steven Paradise was lead trial lawyer in the successful defense of  Carrera Holdings and Carrera S.p.A in a 7-day bench trial before Justice Eileen Bransten of the New York Supreme Court’s Commercial Division.  Justice Bransten recently  issued a Decision and Opinion finding that the behavior of the Government of Tajikistan and local government authorities towards a privately owned Tajik garment manufacturer constituted an “expropriatory event” under Carrera’s contract with plaintiff International Finance Corporation, a member of the World Bank Group, and therefore excused Carrera from paying IFC for the repurchase of its investment in the Tajik entity.  The case was commenced in May 2007. 

Click here to read the decision.