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ASESORES v. GLOBAL EMERGING MARKETS NORTH AMERICA

No. 08 Civ. 9384(MGC).

841 F.Supp.2d 762 (2012)

ASESORES Y CONSEJEROS ACONSEC CIA, S.A., d/b/a Coronel Y Perez Abogados, Plaintiff, v. GLOBAL EMERGING MARKETS NORTH AMERICA, INC., Defendant.

United States District Court, S.D. New York.

January 11, 2012.

Attorney(s) appearing for the Case

Venable LLP, by: Brian Christopher Dunning, Esq., Irene Ribeiro Gee, Esq. New York, NY, for Plaintiff.

Cole, Schotz, Meisel, Forman & Leonard, P.A., by: Steven L. Klepper, Esq., Damon T. Kamvosoulis, Esq., and Neoma M. Ayala, Esq., New York, NY, for Defendant.

OPINION

CEDARBAUM, District Judge.

Delaware investment bank Global Emerging Markets North America, Inc. ("GEM") retained the Ecuadorian law firm of Asesores y Consejeros Aconsec CIA, S.A. ("Asesores") to conduct due diligence on an Ecuadorian consumer electronics company, Artefacta, which GEM planned to acquire. Asesores completed the project and delivered its results, but the deal failed to close because GEM was unable to obtain financing. GEM then...

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