[U] Globalvest Management Co. L.P. V. Citibank

Plaintiffs Globalvest Management Company L.P., Utilivest II LP, Utilivest III LP, Latinvest Fund Ltd., Brazfest Fund Ltd., Globalvest Value Fund LP, Latinvest Holdings LDC, Globalvest Hedge Fund LP, Latinvest Partners LP, Utilivest II Delaware LLC, Brazfest Fund Delaware LLC, Globalvest Hedge Delaware LLC, Globalvest Value Holdings Delaware LLC, Latinvest Fund Delaware LLC, Latinvest Holdings Delaware LLC, Latinvest Partners Delaware LLC and Utilivest III Delaware LLC (collectively, Globalvest) bring a claim against defendant Citibank, N.A. (Citibank) for tortious interference with prospective economic advantage based on the fact that certain Brazilian parties but not Citibank -- brought a lawsuit in Brazil against Globalvest, alleging that Globalvest improperly sought to exercise shareholder control over two Brazilian companies. Citibank now seeks an order, pursuant to CPLR 327, dismissing this action on the ground of forum non conveniens. Alternatively, Citibank seeks an order, pursuant to CPLR 3211 (a) (4), dismissing or staying this action in light of the prior action pending in Brazil, or, pursuant to CPLR 3211 (a) (7), for dismissal on the ground of failure to state a claim. For the reasons set forth below, Citibank's motion for dismissal on the ground of forum non conveniens is granted.