Cayman Appeals Court Finds Award For Brazilian Airline Sale Fraud Enforceable

(September 9, 2020, 11:46 AM EDT) -- GEORGE TOWN, Cayman Islands — A Cayman Islands Court of Appeal panel on Aug. 11 found that a nearly 93 million Brazilian real award (approximately $16.6 million) for the fraudulent presale overpricing of shares in a Brazilian airline could be enforced, overturning a lower court's findings that the award was unenforceable because the tribunal had improperly applied the doctrine of iurit novit curia, but stayed enforcement pending an appeal in Brazil (Gol Linhas Aéreas SA v. Matlinpatterson Global Opportunities Partners [Cayman] II LP, et al., CICA 12-2019, Cayman Islands App.)....

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