Miami Business Lawsuit & LLCs– recent appeals case re judgment creditor
Are you involved in a Miami business lawsuit? If you won your case, do you know how to get paid from your defendant? A January 13, 2021 appeals court opinion from Florida’s 3rd District Court of Appeal reminds Miami business litigation lawyers about judgment creditors and Florida LLCs. If you are a Miami business owner involved in a lawsuit, what can you learn from this case which had a $30 Million judgment? (For legal commentary on a case involving a Florida LLC interest, and how it passes upon death, click HERE. )
Let’s say that you won your business lawsuit and you got a judgment against your defendant. And your defendant is an investor in some Florida limited liability companies. Now, you want your Miami business litigation attorney to explain how you get paid. Florida business lawyers would describe you as a “judgment creditor.” How do you get your judgment “satisfied” after the Miami business trial ? Is it possible to obtain or get the other side’s units or interests in those limited liability companies?
Well, start reading Florida law on judgment creditors and Florida limited liability companies. You can read all about the Florida Revised Limited Liability Company Act, or Chapter 605, by clicking this link:
In the recent case of Ramos v. Mississippi Real Estate Dispositions, LLC, from the Miami Appeal Court, there was actually a charging order regarding Membership Units or shares of a multi-member limited liability company. Could the judgment creditor, with a $30 Million judgment, get those LLC units or interests or shares?
The trial court for the business lawsuit in Miami-Dade County entered a charging order which constituted a lien on those LLC interests. Want to know more about whether you can get someone’s interest, post judgment, in Florida LLCs? Read Section 605.0503 of the Florida Revised Limited Liability Company Act and learn all about charging orders and LLC interests by clicking this link.
To read this interesting appeal court opinion from the 3rd DCA, click this link