IRB-Brasil Resseguros S.A. v. Portobello International Ltd.
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
Order, Supreme Court, New York County (Bernard J. Fried, J.), entered June 1, 2010, which granted the motion of plaintiff IRB-Brasil Resseguros S.A. (IRB) for summary judgment, awarded post-judgment interest at the statutory, rather than contractual, rate and denied defendants’ motion for leave to amend their answers, unanimously affirmed, with costs.
IRB met its prima facie burden of establishing entitlement to summary judgment with evidence that defendant Portobello International Limited issued the global note, defendant guarantors guaranteed it, IRB purchased it and Portobello defaulted…
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