Florida/Georgia Personal Injury & Workers Compensation

...ateral after a default. § 679.609, Fla. Stat. The secured party then "may sell, lease, license, or otherwise dispose of any or all of the collateral in its present condition or after following any commercially reasonable preparation or processing." § 679.610(1), Fla. Stat. "Every aspect of a disposition of collateral, including the method, manner, time, place, and other terms, must be commercially reasonable." § 679.610(2), Fla....

...ion of collateral after a default by the debtor. The secured party then “may sell, lease, license, or otherwise dispose of any or all of the collateral in its present condition or following any commercially reasonable preparation or processing.” § 679.610(1)....

...cured party is not at liberty to dispose of the repossessed collateral in any manner it wants. Instead, “[ejvery aspect of a disposition of collateral, including the method, manner, time, place, and other terms, must be commercially reasonable.” § 679.610(2)....

...Article 9 of the U.C.C., codified in chapter 679, Florida Statutes, provides that when the debtor defaults, the secured party can take possession of the secured collateral and can "sell, lease, license, or otherwise dispose of any or all of the collateral. . . ." § 679.610(1), Fla. Stat. (2005). However, the secured party's sale of the collateral must be made in a "commercially reasonable" manner. § 679.610(2), Fla....

...stead, IBBF could only pursue a deficiency judgment. The trial court granted summary judgment in favor of IBBF. 2 *507 In its rehearing motion, SIT argued that summary judgment was not proper because IBBF “otherwise disposed” of the Shares under section 679.610, Florida Statutes (2009), when it transferred the Shares to its subsidiary, and IBBF was thus required to prove there was a deficiency in order to obtain a money judgment....

...See Volusia Cnty. v. Aberdeen at Ormond Beach, L.P., 760 So.2d 126, 130 (Fla.2000). On appeal, SIT again contends that by having new certificates for the Shares issued to one of its subsidiaries, IBBF “otherwise disposed” of the collateral for the loans under section 679.610, Florida Statutes (2009), 3 and cannot also obtain a money judgment against SIT....

...ession of collateral after a debtor’s default. The secured party then “may sell, lease, license, or otherwise dispose of any or all of the collateral in its present condition or following any commercially reasonable preparation or processing.” § 679.610(1), Fla....

...duties with respect to enforcement of its security interest, and the debtor retains its rights as well. § 679.619(3), Fla. Stat. (2009) & Official Cmt. 2. We conclude that IBBF did not “otherwise dispose” of the Shares within the meaning of section 679.610 when it transferred title of the Shares to its wholly-owned subsidiary....

...F. Pursuant to the terms of the Loan Documents and Florida law, if this Final Judg *507 ment is fully satisfied, Plaintiff shall return any remaining Collateral to Michael P. Spellman, as Trustee of the Shuaney Irrevocable Trust.... . The version of section 679.610, Florida Statutes (2009), formerly section 679.504(2), Florida Statutes (2001), in force at the time of this transaction, tracked the language of U.C.C....

...nses and attorney's fees described in § 679.615(1)(a). (3) A redemption may occur at any time before a secured party: (a) Has collected collateral under § 679.607; (b) Has disposed of collateral or entered into a contract for its disposition under § 679.610; or (c) Has accepted collateral in full or partial satisfaction of the obligation it secures under § 679.622....

...699 (Bankr.S.D.Fla.2002), a decision by this Court is one of the cases overruled by Kalter. [2] Revised Article Nine was effective in Florida on January 1, 2002. Fla. Stat. § 679.207 has been replaced by Fla. Stat. § 679.2071. [3] Fla. Stat. § 679.504 has been replaced by Fla. Stat. §§ 679.610, 679.611, 679.615, 679.617, 679.618, and 679.624 effective January 1, 2002....

...transfer right, title, and interest in the Assets," including the LAZARRA Mark, "to itself." (Doc. # 73-12). It further stated that it foreclosed "through a private sale under Uniform Commercial Code § 9-610," which is codified in Florida Statutes section 679.610....

...While acknowledging that ReVal, either through ReVal NPL or ReVal Properties, foreclosed upon and took ownership of the LAZZARA Mark through a UCC private sale, Opacmare argues that ReVal NPL, as the secured party, improperly purchased the collateral at a private disposition in violation of Fla. Stat. § 679.610 (3)(b)....

...itor of a debtor at the time of private sale by a secured creditor-a statutory basis to challenge the sale or set aside the sale." (Doc. # 92 at 4). The Court does not disagree. The remedy for a commercially unreasonable disposition under Fla. Stat. § 679.610 , is a limitation on the secured party's right to receive a deficiency judgment....

...§ 1060 (4) (protecting a "subsequent purchaser for valuable consideration without notice"). Even if there were some legal deficiency that prevented title from transferring to ReVal NPL, title still transferred to GB Asset. Based on the express language of the security agreement (Doc. # 73-1 at 7-8), and Fla. Stat. § 679.610 (1), ReVal NPL had the power to orchestrate a private sale directly to GB Asset through the November 7, 2014, purchase agreement....

...he note. Section 679.609, Florida Statutes, provides that, after default, a secured party may take possession of the collateral without judicial process “if it proceeds without breach of the peace.” § 679.609(1)(a), (2)(b), Fla. Stat. Section 679.610 then provides for the disposition of collateral after default, providing a party “may” sell, lease, license, or otherwise dispose of the collateral....

...Commercial Code by not acting in a commercially reasonable manner and failing to provide the required statutory notice of private or public sale. Defendants assert that Williams has not pled the requisite foundation to recover under Florida Statute § 679.610. Defendants state that section 679.610 refers to the disposition of property after default....

...d that the Uniform Commercial Code does not require a secured creditor to dispose of the collateral as a condition to recovery. The Court finds that Williams has not properly pled a claim for relief under the Uniform Commercial Code. Florida Statute § 679.610 requires creditors to act in a “commercially reasonable” manner in the disposition of collateral. Fla. Stat. § 679.610 (2)....

...§ 679.625 provides for injunctive relief for UCC violations, the Court finds that Williams has not stated a valid claim. As noted above, Williams has not plead sufficient facts in her Amended Complaint to find that Defendant FGAP Investment violated Fla. Stat. § 679.610 ....

...Collateral was sold on Miami-Dade County’s foreclosure auction website. EPR was the highest bidder and purchased the Collateral for $2,100. Before the certificate of title was issued, Enviropower objected, arguing the sale was not commercially reasonable as required by section 679.610, Florida Statutes (2021)....

...Ferk Fam., LP v. Frank, 240 So. 3d 826, 835 (Fla. 3d DCA 2018).1 Article 9 of the UCC, codified in Chapter 679 of the Florida Statutes, provides that “a secured party may sell . . . or otherwise dispose of any or all the collateral[.]” § 679.610(1)....

...had failed to prove disposition of the collateral asset was done in a commercially reasonable manner and reducing the deficiency balance. We agree; thus, the order on appeal is reversed. Disposition of collateral assets must be done in a commercially reasonable manner. § 679.610(2), Fla....