TALLAHASSEE, Fla. (AP) _ The Florida Supreme Court has denied corporate indemnity for a foreign bank employee but approved it in some cases for board members who were sued by their own condominium association. The justices Thursday reversed $3.5 million in court-ordered indemnity for back pay and lawyer fees from a Venezuelan bank to a Miami employee who had been charged with money laundering.
The high court ruled the payments were invalid because Florida's indemnity law doesn't cover out-of-state corporations.
The justices also reversed an appeal court decision that said three directors of a Pompano Beach timeshare condo association cannot seek reimbursement for their legal expenses.
The ruling reinstates the directors' indemnity claim against La Costa Beach Resort Condominium Association Inc., which had sued them for breach of trust.