CopyCited 3 times | Published | Florida 1st District Court of Appeal
...to seek relief in the foreign jurisdiction. The Estate argued that,
while the court did not have in rem jurisdiction over the
certificates, it had in personam jurisdiction over Appellant and
could order him to take action with respect to the certificates.
The Estate relied on section 678.1121(5), Florida Statutes, which
broadly authorizes the court to give aid to a creditor to reach a
certificated security interest.
The court, concluding that the certificates “could not be
located,” and disagreeing with Appellan...
...The court denied the motion and this appeal follows.
II. ANALYSIS
Appellant first argues the relief granted violates due process
because it was not requested in the Estate’s motion. Second, he
argues that the court lacked jurisdiction to take action affecting
the certificates and that section 678.1121, Florida Statutes, does
not authorize the reissuance of stock and membership
certificates....
...We
hold that the order complied with due process.
B. Jurisdiction and Statutory Authority
Appellant’s substantive argument is that the court lacked
jurisdiction to take action with respect to the certificates located
in Canada, and that even if it had jurisdiction, it lacked authority
under section 678.1121 to order their reissuance.
Appellant relied below on Sargeant v....
...cates, as
neither remedy would directly affect title to the certificates while
they remained in Canada. See id.
Appellant contends, however, that even if the certificates
were within the court’s jurisdiction, there is no express authority
in section 678.1121, Florida Statutes, whereby the court can
order the cancellation and reissuance of stock and membership
certificates. Section 678.1121 outlines the procedure by which a
creditor may reach a debtor’s security interests:
(1) The interest of a debtor in a certificated security may
be reached by a creditor only by actual seizure of the
security certificat...
...wise, in reaching the
certificated security . . . or in satisfying the claim by
means allowed at law or in equity in regard to property
that cannot readily be reached by other legal process.
(Emphasis added.)
Appellant argues that section 678.1121 requires actual
seizure of the certificates and does not authorize a court to order
cancellation and reissuance....
...contradiction to Appellant’s sworn deposition testimony. We
decline to distinguish House on that basis. As in House, the
securities here could not “readily be reached by ordinary legal
process,”—that is, by seizure of the certificates. We hold that
section 678.1121(5) authorizes a court to aid the creditor “in
7
reaching the security or in satisfying the claim by means allowed
by law or in equity,” including by ordering their reissuance,
regardless of whethe...
...As such, we reject
Appellant’s contention he lacks the ability to comply with the
court’s order, both on statutory and equitable grounds.
III. CONCLUSION
The trial court properly exercised its personal jurisdiction
over Appellant to order relief authorized under the broad
language of section 678.1121(5), Florida Statutes....
CopyPublished | Florida 3rd District Court of Appeal
...stock to allow Harris an opportunity to either post bond or obtain a decision
from the Texas court.
Ultimately, the trial court granted Virage’s motion to compel and
ordered Harris to turnover his stock in the law firms. It cited sections
56.061
and
678.1121(5), Florida Statutes, and Street v....
...We reject
Harris’ arguments and attempts to distinguish binding statutes and precedent
simply because of the types of cases the law firm handles. 3 We affirm in all
3
We further reject Harris’ as-applied constitutional challenge to sections
56.061 and
678.1121, Florida Statutes....
...(1965). The current version was enacted in 1998. Ch. 98-11,
Laws of Fla. (1998). As part of this revision, it entitled a judgment creditor
aid from a court in executing on certificated and uncertificated securities.
This procedure is outlined in section 678.1121, Florida Statutes....
...in reaching the certificated security, uncertificated security, or
security entitlement or in satisfying the claim by means allowed
at law or in equity in regard to property that cannot readily be
reached by other legal process.
§ 678.1121(5), Fla....
CopyPublished | United States Bankruptcy Court, S.D. Florida. | 2011 Bankr. LEXIS 824
...§ 362 et seq., Menocal seeks reissuance of Leary's stock as a remedy in aid of execution on a state court final judgment. Menocal asserts that, without the relief, he will have no means of utilizing the state law remedy afforded to a judgment creditor by Florida *652 law, specifically Florida Statute § 678.1121....
...hich Infolink Group, Inc. previously issued to Prieur J. Leary, III, and deliver the re-issued stock certificate(s) to the Miami-Dade County Police, Court Services Bureau, for further disposition in aid of execution, as authorized by Florida Statute § 678.1121(5), for all of which let execution issue forthwith and without delay....
