Robert (Bob) Stovash obtained an emergency injunction which prevented a lender from selling the membership interest of a commercial client of Stovash, Case & Tingley, P.A. The lender claimed a security interest in the membership interest of the firm’s commercial client and claimed a default existed under the loan documents. Bob Stovash rapidly assessed the actions by the lender and determined the lender had not complied with Florida’s version of the Uniform Commercial Code regarding pre-sale notice and had otherwise not acted properly so as to permit the sale. Hours before the sale was to occur, the Court agreed with the analysis and entered an injunction which stopped the sale from occurring.
Bob Case provided oral arguments before the Fifth District Court of Appeal and argued the Florida Real Estate Commission (FREC) improperly denied the Real Estate Recovery Fund claim asserted on behalf of a client. The client was the victim of bad acts taken by a real estate licensee who had failed to properly manage the client’s residential real estate investment properties. FREC had denied the claim based on a theory the claim was ineligible for recovery under the Real Estate Recovery Fund Statute. In a unanimous decision, the Fifth District Court of Appeal ruled the Firm’s client was entitled to recovery under the Fund and that the compensation arrangements between the real estate licensee and the client did not affect the licensee’s obligations to act ethically. The full opinion by the Appellate Court can be found here.