Kramer Levin Secures Another Appellate Victory for Client EIG Global Energy Partners

The D.C. Circuit Court of Appeals handed another major win to Kramer Levin’s client EIG Global Energy Partners on June 11, 2024, when it unanimously affirmed the D.C. Circuit’s decision to deny Petrobras’s motion for summary judgment, holding that Petrobras was not immune from liability under the Foreign Sovereign Immunities Act. The D.C. Circuit reached the same conclusion it had previously made at the motion to dismiss stage, based on the summary judgment record. The record established that “Petrobras engaged with EIG in a sustained course of dealing over many months that conveyed [Petrobras’] desire to obtain an investment from EIG,” causing a direct effect in the United States. The Circuit Court also determined that the District Court had appropriately reached the merits in granting summary judgment on liability in favor of EIG, paving the path forward for a trial on damages, where EIG seeks to recover over $221 million in compensatory damages plus prejudgment interest and punitive damages.