Fla. Court Says Mexican Investors Can't Sue IAT

Law360, New York (November 7, 2008, 12:00 AM EST) -- Mexican investors alleging bribery at work in the 1996 auction of Fresh Del Monte Produce NV have no standing to bring a case against the Palestinian company that purchased Del Monte, a Florida appeals court ruled Wednesday.

The Third District Court of Appeal for the State of Florida ruled that investors in Grupo Empresarial Agrícultura Mexicano – once the owner of Del Monte – have no standing to sue the Palestinian company IAT Group Inc. and its executives for what should technically be classified as shareholder...
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