Rural Bank

Walkers law firm in the Cayman Islands has successfully appealed a summary judgment that was entered against it in favor of former clients - two Brazilian bankers and related companies - who are seeking damages of up to $400 million for alleged breaches of trust, loyalty, and confidence.

Brazilian bankers Katia Rabello and Fernando Toledo and related companies have obtained summary judgment in the Cayman Islands against major offshore law firm Walkers and will ask the court to award damages of up to $400 million, the plaintiffs' lead attorney has announced.

Judgment in Arnage Holdings Ltd., of the Cayman Islands; Brooklands Holdings Ltd., of the Cayman Islands; East Farthing Holdings Limited, of the Cayman Islands, Katia Rabello, of Brazil, and Fernando Toledo, of Brazil v. Walkers, a Cayman Islands law firm, at the Grand Court of the Cayman Islands.