11th Circ. Won’t rekindle yacht builder’s $ 4.4 billion RICO suit

By Isaac Monterose (December 15, 2021, 6:27 p.m. EST) – The Eleventh Circuit has refused to revive claims by a late yacht builder that the company’s financier, Comerica Bank, a billionaire and others plotted to sink a promising boat sale, ruling that the $ 4.4 billion racketeering lawsuit did not specify what claims were filed against each defendant.

A three-judge panel agreed with the Florida Lower District Court that Worldspan Marine Inc.’s complaint under the Racketeer Influenced and Corrupt Organizations Act drew the conclusions of a conspiracy without specifying who did what, thereby omitting to give defendants sufficient information about their liabilities.

“To begin with, most of the charges in the amended complaint…

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