Brazilian Pension Seeks $66M Tied To Judgment Back Home

Law360 (September 25, 2019, 9:49 PM EDT) -- A Brazilian pension fund asked a New York state court Wednesday to award it more than $66 million it says it's owed under a judgment it secured in the South American country against a home appliance distributor that allegedly defaulted on a line of credit.

The pension fund for Brazil's airport employees, the Instituto Infraero de Seguridade Social, or Infraprev, sued Ricardo and Maria Etchenique, blaming the couple for the purported default on IOUs issued by the appliance distribution company Ricardo founded, Eletrodireto S/A Central de Distribuicao.

"The Defendants personally guaranteed the Eletrodireto Notes as joint and several guarantors, being responsible...

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