Legal Opinion
Spellman v. Independent Bankers' Bank of Florida
District Court of Appeal of Florida
Decided August 8, 2014No. 5D11-4358PublishedCited by 3 opinions
1Opinion of the CourtOrfinger, J.
Michael P. Spellman, as Trustee for the Shuaney Irrevocable Trust (“SIT”), appeals from a final summary judgment in favor of Independent Bankers’ Bank of Florida (“IBBF”). SIT argues that IBBF was not entitled to summary judgment because IBBF sold or otherwise disposed of the collateral for several loans, and was therefore limited to seeking a deficiency judgment. We disagree and affirm.
Between September 2004 and August 2007, IBBF made a series of five loans to SIT and others.1 As security for the loans, SIT pledged 365,151 shares of stock (“Shares”) that it owned in Beach Community…
2Cases cited14 opinions
- Volusia County v. Aberdeen at Ormond BeachSupreme Court of Florida · 2000
- The Florida Bar v. GreeneSupreme Court of Florida · 2006
- United States v. Whitehouse Plastics D/B/A Aladdin Amusement ProductsCourt of Appeals for the Fifth Circuit · 1974
- Native Alaskan Reclamation & Pest Control, Inc. v. United Bank AlaskaAlaska Supreme Court · 1984
- Weiner v. American Petrofina Marketing, Inc.Supreme Court of Florida · 1986
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3Cited by3 opinions
- Beach Community Bank v. Disposal Services, LLCDistrict Court of Appeal of Florida · 2016
- PACCAR Financial v. WaterboyzSuperior Court of Pennsylvania · 2017
- WILLIAM A. HOHNS, MARCELLUS RAMBO BENSON, JR., KATHLENE HOHNS, JORDAN J. REARDON, PATRICK HOHNS, AND MARK F. BERNARD vs JOE LEE THOMPSONDistrict Court of Appeal of Florida · 2022