Summary

This saga has its origins in ten contracts for the sale of more than 100 metric tons of pig iron by five Brazilian entities (collectively referred to as "CBF") 1 to Steel Base Trade AG ("SBT"). When market prices collapsed, CBF was left with an unpaid balance of more than $42 million owed by SBT. The matter proceeded to arbitration before a panel of the International Chamber of Commerce in Paris (the "ICC"), which awarded CBF principally $48,053,462.16 (the "Award"). SBT was liquidated after Swiss bankruptcy proceedings and is not named in this action.

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CONCLUSION

Defendants' summary judgment motion as to the First Claim is GRANTED to the extent plaintiffs seek to proceed on a theory of successor liability but DENIED to the extent plaintiffs seek to proceed on an alter-ego or veil-piercing theory. The Second Claim is dismissed but subject to reinstatement in the event that (1) CBF applies within 45 days of this Order to reopen the SBT bankruptcy and seeks an assignment of clawback claims; and (2) an assignment of any clawback claims is obtained from the proper Swiss bankruptcy officials within 180 days of this Order.

Plaintiffs' summary judgment motion is GRANTED as to affirmative defenses 2, 3, 5, 6, 7, 16 and 29 and DENIED as to affirmative defenses 9, 12, 13, 14, 17 and 28. All other affirmative defenses are withdrawn, deferred, or preserved for appeal, as set forth above. The Clerk is respectfully directed to terminate the motions. (Doc 539, 563.) SO ORDERED.