FIRM WINS APPEAL FOR ARGENTINE ENERGY COMPANY

In connection with an earlier News item, the Firm secured in an important appellate victory for an Argentine Energy company, which was sued by a B.V.I. investment company in connection with an $80 million transaction.  The two companies considered working together to purchase a third company.   The Firm’s client purchased the third company without the B.V.I. company.  The B.V.I. company sued in New York for alleged breaches of a “non-circumvent” agreement.  The Firm’s lawyers moved to dismiss the claims for failure to state a cause of action, without having to conduct any discovery.  Relying on an exception to the normal rule prohibiting the use of documentary evidence on a pre-answer motion to dismiss, the Firm’s lawyers successfully persuaded the New York court to dismiss all of the claims outright.  The New York Appellate Division affirmed the dismissal.