The international law firm of Chadbourne & Parke LLP represented Fonkoze Financial Services in structuring an international offering to investors interested in promoting social and economic development in Haiti, including an offering by a domestic limited liability company to high net worth American investors.
The offering closed on September 13. Investors in the United States and Europe have made it possible for Fonkoze, Haiti's largest microfinance institution, to expand its operations significantly with the influx of $1.95 million in foreign capital.
The money raised will be invested in a Haitian holding company that will, in turn, invest in a Haitian micro-credit-oriented financial services company. The Haitian financial services company will make loans to small groups of local women to finance small business activities such as street vending.
Chadbourne attorneys working on the transaction included partners Peter Ingerman and Barry Dinaburg and associates Sheila Peluso, Erin Tandler, Josh Williams and Abigail Caplovitz, all of the New York office. Chadbourne represented the financial services company and the Fondasyon Kole Zepòòl, which means "Shoulder to Shoulder Foundation" in Creole.