Big Law Clients Take $440M LIBERTAD Act Hit That Could Chill Investment in Cuba
The ruling could have a chilling effect on businesses seeking to expand to Cuba, particularly because insurers could legally deny coverage under LIBERTAD Act violations.
January 03, 2023 at 02:33 PM
4 minute read
Verdicts-Settlements
Bad news for several Big Law firms.
U.S. District Judge Beth Bloom ordered four Florida-based cruise lines that sailed to Cuba to pay $440 million to a U.S. company, pursuant to the LIBERTAD Act, a federal law under which businesses can face legal action if they trafficked in property confiscated by Fidel Castro's communist regime.
Plaintiff, Havana Docks Corp., whose legal counsel included Roberto Martinez, a partner at Colson Hicks Eidson, filed a lawsuit against the defendants, Norwegian Cruise Line Holdings Ltd., Carnival Corp., Royal Caribbean Cruises Ltd. and MSC Cruises SA Co., whose legal counsel was stacked with partners from several Big Law firms.
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