RK&O represents Carrera in First Department appeal

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March 9, 2018

Richards Kibbe & Orbe LLP represented Carrera S.p.A. and Carrera Holdings in the case of International Finance Corporation v. Carrera Holdings Inc. and Carrera S.p.A., a contract dispute between Carrera, an Italian textile company, and IFC, an arm of the World Bank, over IFC’s investment in a Carrera-owned textile manufacturing facility in Tajikistan. Following a seven-day bench trial, Justice Bransten of the New York County Supreme Court’s Commercial Division issued a judgment in favor of Carrera in June 2016.  On appeal to the First Department, IFC argued, among other things, that Justice Bransten improperly interpreted the contract, incorrectly found that certain contractual events occurred, and improperly admitted testimony from two key Carrera witnesses.  Steven Paradise argued the appeal for Carrera on February 14, 2018 before a panel consisting of Justices Dianne Renwick, Rosalyn Richter, Richard Andrias, Barbara Kapnick, and Marcy Kahn.  The panel unanimously affirmed Justice Bransten’s judgment, finding that Justice Bransten correctly interpreted the contract and that the judgment was supported by sufficient evidence, among other holdings.