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Former Norwegian Cruise Line Holdings (NCLH) president and CEO Frank Del Rio has been denied additional compensation following a ruling by the 11th Judicial Circuit Court in Miami.
Del Rio had filed a lawsuit against his former employer, claiming that he was entitled to additional compensation under an alleged verbal agreement with four NCLH board members. According to the lawsuit, Del Rio formally signed a 2.5-year consulting agreement worth US$10 million, while allegedly reaching a separate verbal agreement for a 4.5-year contract valued at US$18 million.
Judge Mavel Ruiz dismissed the case with prejudice, concluding that Del Rio could not pursue compensation under an undisclosed arrangement in which he had knowingly participated, according to Seatrade Cruise News.
The court's decision follows arguments that Florida law generally prevents a party from relying on a prior oral agreement when it is contradicted by a subsequent written contract containing clear terms. Del Rio's written agreement with NCLH specified his compensation and established the conditions governing any extension of the contract.
The case also raised questions about Del Rio's responsibilities as NCLH's chief executive and president at the time. The alleged arrangement was not disclosed to shareholders, and the lawsuit contended that the circumstances surrounding the agreement created additional legal difficulties for his claim.
Del Rio subsequently withdrew his claim based on promissory estoppel, acknowledging that the alleged oral agreement could not be enforced under Florida's statute of frauds. He instead argued that he had suffered financial losses after relying on the arrangement and retiring from NCLH in 2023.
Judge Ruiz rejected that argument, ruling that the statutory requirement for a written agreement could not be circumvented by presenting an alleged breach of an oral contract as a fraud claim.
Del Rio, whose career earnings are reported to exceed US$175 million, plans to appeal the ruling.
NCLH said it had no comment on the lawsuit.
