Articles Posted in Commercial and Business Dispute Litigation

The Florida Uniform Fraudulent Transfer Act – How Can the Act Help You in Collecting on Your Judgment – South and Central Florida Judgment (Including Out-of-State Judgments) Collection Attorney.

The Florida Uniform Fraudulent Transfer Act (“FUFTA”) is contained in Florida Statute §§ 726.101 – 201  FUFTA  provides creditors (judgment holders) with various forms of relief to avoid a debtor’s (defendant’s) fraudulent transfer of assets or funds.  A creditor (a plaintiff) may avoid a debtor’s transfer where the creditor shows that the transfer was made with actual intent to hinder, delay, or defraud.  To that end, FUFTA provides a non-exhaustive litany of factors – referred to as “badges of fraud” – to consider when determining whether a debtor’s transfer is fraudulent as to the creditor:

  1.   The transfer or obligation was to an insider.

To establish a joint venture in Florida, the written contract must contain the following five elements: (1) a community of interest in the performance of a common purpose, (2) joint control or right of control, (3) a joint proprietary interest in the subject matter, (4) a right to share in the profits and (5) a duty to share in any losses which may be sustained.  Absence of one element precludes the finding of a joint venture.

A party asserting that an unwritten, implied contract is the basis of a joint venture faces a heavy and difficult burden, as it must allege and prove that the implied contract contains the same five elements required of a joint venture based on a written contract.

If these five elements exist, joint venturers owe each other a duty of loyalty, breach of which gives rise to a claim for breach of fiduciary duty.

In examining the concept of justifiable reliance, the Florida Supreme Court opined that the question is whether the recipient of a misrepresentation or omission is justified in relying upon its truth. For if the recipient “knows that it [the statement] or [omission] is false or its falsity is obvious to him/her, his/her reliance is improper, and there can be no cause of action for fraudulent misrepresentation.  This is particularly important in circumstances where the misrepresentation or omission is subsequently referenced in a written contract.  In such a circumstance, the Court has determined that notwithstanding oral misrepresentations prior to the making of a contract, a party cannot establish justifiable reliance and “may not recover in fraud for an alleged false statement when proper disclosure of the truth is subsequently revealed in a written agreement between the parties.

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With extensive courtroom, arbitration and mediation experience and an in-depth understanding of elder abuse, exploitation and securities law, our firm provides all of our clients with the personal service they deserve. Handling cases worth $25,000 or more, we represent clients throughout Florida and across the United States, as well as for foreign individuals that invested in U.S. banks or brokerage firms. Contact us to arrange your free initial consultation.

As a Shareholder of a Corporation or Member of a Limited Liability Company, is Your Claim Direct or Derivative.

Recently, in Dinuro Investments, LLC v. Camacho, 141 So.3d 731 (Fla. 3d DCA 2014), the court conducted a detailed survaey of the law in this area in both Florida and throughout the country. The court noted that three tests routinely have been applied to resolve the direct versus derivative claim question.

1. Direct Harm Test

Bank Claims – Breach of Fiduciary Duty and Breach of Contract Federal and State South Florida Commercial Litigation Attorney

Bank Claims – Breach of Fiduciary Duty:

Does a bank owe you a duty of care, which would support a claim for negligence?

Sethi Petroleum, LLC and Sameer Praveen Sethi – Fraudulent Oil and Gas Scheme – South Florida, including Boca Raton, Fort Lauderdale and West Palm Beach, Commercial Litigation Attorney

Securities and Exchange Commission v. Sethi Petroleum, LLC and Sameer Sethi, Civil Action No. 4:15-CV-338 (E.D. Tex.)

SEC Halts Fraudulent Oil and Gas Scheme and Obtains Asset Freeze and Appointment of a Receiver Over Sameer Sethi and Sethi Petroleum, LLC

South Florida, including Boca Raton, Fort Lauderdale, West Palm Beach and Delray Beach Business and Construction Litigation and Arbitration Attorney:

The Law Office of Russell L. Forkey, P.A. handles all types of contract disputes including business and construction disputes. Business disputes include such things as breach of non-compete agreements, shareholder derivative actions, breach of employment agreements and breach of shareholder agreements. Construction disputes include disagreements between real estate developers, homeowners, general contractors and subcontractors. Construction law can be very complex and we understand those complexities. We offer our knowledge and experience and if needed, the assistance of experts to achieve the best decisions possible.

When a business or individual fails to live up to the terms of a written or an oral agreement, legal action might be necessary. Many times the issues involved are complex. It is in your best interest to choose an experienced business dispute attorney. It will be beneficial to you to find a business dispute attorney that has an established reputation and is recognized for integrity. We have been providing such services in the South Florida area for over 35 years. Our years of experience and dedication have allowed our business dispute attorneys to achieve tremendous success in the resolution of business disputes.

South Florida (Boca Raton, Florida) Corporate and Shareholder Business Dispute Litigation and Arbitration Attorney:

Florida Minority Shareholder Election Statute:

607.1436 Election to purchase instead of dissolution.

Boca Raton, Florida – Fraudulent Day Trading Scheme FINRA Arbitration and Litigation Attorney:

SEC Charges Unregistered Broker in Tampa Area With Stealing From Investors in Fraudulent Day Trading Scheme

The Securities and Exchange Commission recently charged an unregistered broker living outside Tampa, Fla., with stealing investor funds as part of a fraudulent day trading scheme.

Boca Raton, Florida Real Estate Investment and Offering Fraud FINRA Arbitration and Litigation Attorney:

SEC Charges Business Owner and Stockbroker in Maryland-Based Real Estate Offering Fraud

The Securities and Exchange Commission today charged the owner of a Maryland-based real estate company with conducting an offering fraud and spending investor money on such personal expenses as his mortgage, country club dues, and season tickets to the Baltimore Ravens. The agency also charged a former stockbroker for participating in the scheme.

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