INTERN. EQUITY INVS. v. OPPORTUNITY EQUITY PRTNRS.

No. 05 Civ. 2745(LAK).

407 F.Supp.2d 483 (2005)

INTERNATIONAL EQUITY INVESTMENTS, INC. and Citigroup Venture Capital International Brazil, LLC, on behalf of itself and Citigroup Venture Capital International Brazil, L.P. (f.k.a. CVC/Opportunity Equity Partners, L.P.), Plaintiffs, v. OPPORTUNITY EQUITY PARTNERS, LTD. (f.k.a. CVC/Opportunity Equity Partners, Ltd.) and Daniel Valente Dantas, Defendants.

United States District Court, S.D. New York.

June 2, 2005.


Attorney(s) appearing for the Case

Howard S. Zelbo, Carmine D. Boccuzzi, Daniel M. Hibshoosh, Cleary Gottlieb Steen & Hamilton LLP, New York City, for Plaintiffs.

Philip C. Korologos, George F. Carpinello, Boies, Schiller & Flexner LLP, Armonk, NY, for Defendants.


MEMORANDUM OPINION

KAPLAN, District Judge.

In the late 1990s, Citibank, N.A. ("Citibank") agreed to make an entity controlled by Daniel Valente Dantas, a Brazilian banker, the sole general partner of an investment vehicle to which Citibank contributed the entire $728 million in capital. The vehicle now owns, through an elaborate holding company structure, a very substantial interest in Brasil Telecom S.A. ("Brasil Telecom"), a provider of fixed-line and...

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