Brazil Loses Restraining Order Against Opportunity Fund in Civil Asset Forfeiture Case

On February 24, 2009, Judge D. Bates of the U.S. District Court for the District of Columbia issued an order dissolving the restraining orders against funds held by Opportunity Fund and related entities. The decision is the latest round in a worldwide contest over the assets of Opportunity Fund (OF) between the Brazilian government and the owners of OF. On March 9, 2009, Judge Bates issued another order denying the government’s application for a 10-day temporary retraining order and lifting the the stay on the dissolution of the prior restraining orders...[more]