European Court Rejects Claims by Banana Firms

Europe’s second-highest court rejected multimillion-dollar compensation claims by the world’s two largest banana companies against European Union banana tariffs and ordered them to pay costs.

The companies, Chiquita Brands International Inc. and Dole Food Co., had sought compensation at the Court of First Instance.

Although the amount of Dole’s claim is confidential, Chiquita had wanted the European Commission to pay 564 million euros ($733.2 million), plus interest at an annual 8% rate. The companies filed the suits in 2001.