Due in part to the nature of its geographic location and its culture, Miami has a strong connection with much of the Caribbean and Latin America. While business activities in other parts of the U.S. might spill across state lines, here in Florida, business activities (and their related legal actions) often cross national borders. If you find yourself needing to undertake a legal proceeding in Florida to enforce rights you acquired in another country, you need to be sure you have the right South Florida commercial litigation attorney on your side.
A recent court battle involving a Chilean wine company is a good illustration. A Chicago-based LLC had an investment in the wine company (it had purchased 4.24 million shares) and it also had a Shareholders’ Agreement that was created to protect its interest in the wine company. The agreement stated that, if certain breaches occurred, the LLC could demand that the majority shareholders of the wine company buy back the LLC’s shares at a premium price.
Eventually, a dispute erupted related to the agreement, which led to arbitration in Chile. The Chilean arbitrator ruled in favor of the LLC and awarded it $28 million.