The Bankruptcy/UCC Committee is forming a new Study Group to review Section 501.207 of FDUTPA and the holding in Perlman v. PNC Bank, N.A. , 38 F.4th 899, 905 (11th Cir. 2022). Recently, the Eleventh Circuit in Perlman held that Fla. Stat. § 501.207(3) (FDUTPA) does not overcome the requirement set forth in Isaiah v. JPMorgan Chase Bank, 960 F.3d 1296, 1308 (11th Cir. 2020), that a receiver must allege the presence of at least one innocent director or stockholder to have standing to bring his aiding and abetting claims against a defendant. The Eleventh Circuit notes that while the statute might provide that the wrongful acts of the Receivership Entities are not imputed to Perlman, this does not change the fact that absent an allegation of an innocent director or stockholder, the Receivership Entities cannot be said to have suffered an injury for purposes of common law tort claims against third parties.
If interested in volunteering for the study group, please email Mariane Dorris, Chair of the Bankruptcy/UCC Committee at
mdorris@shukerdorris.com. The first meeting will be at the Labor Day Retreat, September 2-5, 2022.