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Whirlpool settles two-decade Brazilian lawsuit for $603 million

An unauthorized loan made my former employee is ordered to be repaid

Home appliance maker Whirlpool Corp. settled a 20-year-old lawsuit against its Brazilian subsidiary Wednesday by agreeing to pay nearly $603 to Banco Safra S.A.

In 1989, an unauthorized loan was taken out by a former employee of Embraco, a company that was acquired by the subsidiary. A Brazilian trial court ordered Whirlpool to repay that loan in 2000. The final payment amount continued to be disputed despite the judgment.

Shardae Smith

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