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The plaintiffs seek all available statutory remedies, including the value of the expropriated property, plus interest, treble damages, attorneys’ fees and costs.
−Removed: In the Havana Docks Action, we and the plaintiff have filed motions for summary judgment, which were heard by the Court in January 2022.
−Removed: The Havana Docks Action is scheduled for trial on May 23, 2022.
−Removed: The Court dismissed the Port of Santiago Action with prejudice on the basis that the plaintiff lacked standing, and the plaintiff’s appeal of the dismissal is awaiting a decision by the appellate court.
−Removed: We believe we have meritorious defenses to the claims alleged in both the Havana Docks Action and the Port of Santiago Action, and we intend to vigorously defend ourselves against them.
−Removed: The outcome of litigation is inherently unpredictable and subject to significant uncertainties, and there can be no assurances that the final outcome of either case will not be material.
−Removed: We are also routinely involved in claims typical within the travel and tourism vacation industry.
+Added: The Court dismissed the Port of Santiago Action with prejudice on the basis that the plaintiff acquired his interest in the Port of Santiago after the enactment of the Helms-Burton Act.
+Added: In November 2022, the United States Court of Appeals for the 11th Circuit affirmed the Court's dismissal of the lawsuit.
+Added: In the Havana Docks Action, the Court entered final judgment in December 2022 in favor of the plaintiff and awarded damages and attorneys' fees to the plaintiff in the aggregate amount of approximately $112 million.
+Added: We have appealed the judgment to the United States Court of Appeals for the 11th Circuit and the plaintiff has cross-appealed with regards to the interest calculation used for purposes of determining damages.
+Added: We believe we have meritorious grounds for and intend to vigorously pursue our appeal.
+Added: During the fourth quarter of 2022, we recorded a charge of approximately $130.0 million to Other (expense) income within in our consolidated statements of comprehensive loss related to the Havana Docks Action, including post-judgment interest and related legal defense costs and bonding fees.
+Added: In addition, we are routinely involved in claims typical within the cruise vacation industry.
The majority of these claims are covered by insurance.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.