SUPREME COURT OF THE STATE OF NEW Y O N
T
COUNTY OF NEW YORK
AFFILIATED FM INSURANCE
COMPANY,
Index No.
Plaintiff,
0
' against COMPLAINT
ARTHUR ANDERSEN LLP (formerly :
doing business as ARTHUR ANDERSON
& CO.),
Defendant.
The plaintiff, Affiliated FM Insurance Company, by its attorneys, Podvey,
c
Meanor, Catenacci, Hildner & Cocoziello, complaining of the defendant, alleges
information and belief:
ALLEGATIONS COMMON TO ALL COUNTS
1. Plaintiff, Affiliated FM Insurance Company ("Affiliated") is an insurance
organized under the laws of the State of Rhode Island, licensed to conduct an insurance
in the State of New York, and has its principal place of business in Johnston, Rhode
2. Defendant, Arthur Andersen LLP (also previously doing business as Arthur
& Co.) C'Andersen"), is a limited liability partnership organized under the laws of the
Illinois, with its principal place of business in Chicago, Illinois, and with
SNIPPETS:
COUNTY OF NEW YORK
doing business as ARTHUR ANDERSON
The plaintiff, Affiliated FM Insurance Company, by its attorneys, Podvey, Sachs,
Meanor, Catenacci, Hildner & Cocoziello, complaining of the defendant, alleges upon
Affiliated FM Insurance Company is an insurance corporation
organized under the laws of the State of Rhode Island, licensed to conduct an insurance
in the State of New York, and has its principal place of business in Johnston, Rhode Island.
Illinois, with its principal place of business in Chicago, Illinois, and with offices for the
From at least as early as 1980 through 1986, Andersen rendered accounting services
to Andina Coffee,
were not limited to, the examination, audit and certification of Andina's consolidated
Andina was incorporated and has its principal place of business in New York,
Andina was an importer of Colombian coffee which imported coffee from a group of
Colombian coffee exporters, including Gonchecol Ltda.
Andina provided Gonchecol with financing fo,r the export of coffee from Colombia
through documentary letters of credit charged against lines of credit established by Andina
which issued the letters of credit.
These New York banks included: Chemical Bank (now known as the Chase
Manhattan Bank), Banque Paribas, American Express Bank Ltd.
including a truck bill of lading.
Each letter of credit draw resulted in a reimbursement obligation
on the part of Andina to each of the issuing Banks, which Andina would repay once the coffee
arrived from Colombia and was sold.
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