Banadex indirectly reports to Chiquita.Ĭomercio Exterior Asesores Limitada ("CEA") is a Colombian entity licensed by the Colombian government to act as an intermediary between corporations and Colombian customs officials.Ĭhiquita's Colombian operations consist of, among other things, a number of banana farms located throughout the country and an import/export port facility located in Turbo. ("Banadex") is an indirectly wholly-owned subsidiary of Chiquita with its headquarters in Medellin, Colombia. The common stock of Chiquita is registered with the Commission pursuant to Section 12(b) of the Exchange Act and is listed on the New York Stock Exchange.Ĭ.I. is a New Jersey corporation with its headquarters in Cincinnati, Ohio. 1īased on the foregoing, the Commission finds that:Ĭhiquita Brands International, Inc.
The Commission has determined that it is appropriate to accept the Offer from Chiquita, and accordingly is issuing this Order. Solely for the purpose of this proceeding and any other proceeding brought by or on behalf of the Commission, or to which the Commission is a party, and prior to a hearing and without admitting or denying the findings contained herein, except as to jurisdiction over it and over the subject matter of this proceeding, which Chiquita admits, Chiquita consents to the entry of this Order Instituting Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order ("Order"). In anticipation of the institution of these proceedings, Chiquita has submitted an Offer of Settlement ("Offer") that the Commission has determined to accept. The Securities and Exchange Commission ("Commission") deems it appropriate that public administrative proceedings be, and hereby are, instituted pursuant to Section 21C of the Securities Exchange Act of 1934 ("Exchange Act") against Chiquita Brands International, Inc. SECURITIES AND EXCHANGE COMMISSION Securities Exchange Act of 1934Īdministrative Proceeding File No. ONGOING WORKERS’ RIGHTS ALLEGATION The company has been accused of endangering the health of its workers and their families Allegedly, the banana firm has carelessly exposed laborers at the Coyol plantation in Costa Rica to highly toxic pesticides on multiple occasions.Chiquita Brands International, Inc.: Admin. PAYMENT TO PARAMILITARY GROUPS 1989-1997 : payments were made to Revolutionary Armed Forces of Columbia and National Liberation Army 1997-2004 : payments amounting to about $1.7 million were made to United Self Defense Forces of Columbia Payments were made in exchange for employee protection in the Columbian banana harvesting zone Case resulted in the payment of $25 million fine by the company īRIBERY The company was found guilty of bribing various officials In 2001, the company was forced to pay $100,000 penalty after the Securities and Exchange commission found it guilty of bribing a foreign official in Columbia ABOUT CHIQUITA Cincinnati, Ohio based company Successor of United Fruit Company Producer and distributor of bananas and other fresh fruit products Fernando Aguirre Ĭontroversies Cincinnati Enquirer : “Chiquita Secrets Revealed” Payment to paramilitary groups Bribery : included foreign and local officials Ongoing workers rights violation ĬHIQUITA SECRETS REVEALED Article published in the Cincinnati Enquirer Reported variety of abuses involving the company Mistreatment of the Central American workers, polluting the environment, shipment of cocaine into the United States, preventing the unionizing of workers The Cincinnati Enquire had to publish a retraction as information was illegally obtained and not proven
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