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March 19, 2019

Supreme Court Denies Cert, EIG Win in D.C. Circuit Stands

On March 18, 2019, the U.S.  Supreme Court declined to review a D.C. Circuit ruling that Brazil’s Petrobras cannot claim sovereign immunity in a suit filed by Kramer Levin client EIG Global Energy Partners LLC.

Petrobas filed a petition for writ of certiorari in December 2018, claiming sovereign immunity from claims made by funds managed by EIG that the state-owned energy firm was responsible for losses stemming from a failed drilling venture, Sete Brasil Participações, SA. The D.C. Circuit ruled that the funds adequately alleged “direct effect” in the U.S. from the Petrobas corruption scandal, which resulted in the loss of their $221 million investment.

Law360 reported on the decision.

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