Current Account notes with interest difficulties at another US foods group, Chiquita - the banana producer with close links to Irish fresh producer Keelings. Problems for Chiquita may bring a smile to the McCann family of Fyffes, given the less than cordial relations that have existed between Fyffes and Chiquita going back years.

Chiquita, once a giant of the fresh produce industry but now valued at no more than $75 million (€80 million), is now seen as another candidate to go into Chapter 11 protection after halting its debt payments. Just like the Imperial deal, Chiquita is trying to swap a load of debt for a huge dollop of equity as part of an overall $862 million restructuring.

This may mean that Chiquita shareholders, who have seen their investment fall from $5 1/2 a share a year ago to $3 last week to the current $1 1/4, may be in for more pain if creditors demand immediate repayments of debt and interest.

One of those shareholders is Carl Lindner, whose American Financial Group owns 37 per cent of Chiquita equity. That stake is likely to disappear into low single figures if Chiquita's banks accept the restructuring and that is by no means certain.

Just like Imperial management, Chiquita's big wheels take no blame for the debacle, with the weakness of the euro and the US-EU trade dispute over bananas being cited as the cause of the problems.

The McCanns of course have more to think of in their operation - and particularly how much further they should take their buying of Fyffes shares. The family obviously feels that the shares are undervalued, but it is an indication of the regard for the shares in the market that the family can mop seven million shares without much bother.

What Fyffes will be hoping for is that Chiquita's problems may result in production cuts and a welcome boost to world banana prices. If that is the case and banana prices do rise, then the family's buying of over seven million shares at a cost of more than £5 million may be a sound investment.