Gunster Yoakley & Stewart PA

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Brazil by Elias Mubarak Junior, as the Foreign Representative of Viação Itapemirim SA, Transportadora Itapemirim S/A, ITA-Itapemirim Transportes S/A, Imobiliária Bianca Ltda, Cola Comercial e Distribuidora Ltda, Viação Caiçara Ltda, and Flecha S/A - Turismo, Comércio e Industria, at the U. S. Bankruptcy Court for the Southern District of Florida.

Three offshore-based businesses are suing a Florida law firm for more than $140 million in damages, alleging professional malpractice concerning a failed factoring business.A civil lawsuit was filed on August 10, 2005 at the U. S. District Court for the Southern District of Florida by Banco Espirito Santo International Ltd., incorporated in the Cayman Islands; ESB Finance Ltd., incorporated in the British Virgin Islands; and Banco Espirito Santo SA (Nassau Branch), a Portuguese corporation. Defendants are Gunster, Yoakley & Stewart PA, a law firm incorporated in Florida, and Mark Scheer, a Florida resident and shareholder of GY&S. Causes of action are professional malpractice, and negligent misrepresentation.