Smith v. Belin

JOANOS, Judge.

Appellants, Attorneys General of Florida and Delaware, separately appeal from a final judgment in which the trial court authorized a joint venture between the Alfred I. duPont Trust (Trust) and the Florida East Coast Railway (FEC). The appeals are consolidated for review. We affirm.

Pursuant to Section 737,403, Florida Statutes the trial court authorized the proposed joint venture. The trial court presumed that a conflict existed, but did not determine if the trustees had conflicts of interests which should or could preclude them from acting.1

Appellants’ arguments focus upon the…