Olmstead: Right Result, Wrong Reasons

BNA, Estates, Gifts and Trusts Journal, September 9, 2010

Florida’s Supreme Court held in Olmstead v. FTC, that a court may order a judgment debtor to surrender all right, title and interest in the debtor’s single-member limited liability company (“LLC”), organized under Florida law, to satisfy an outstanding judgment. The Florida Supreme Court said: “[s]pecifically, we conclude that there is no reasonable basis for inferring that the provision authorizing the use of charging orders under section 608.433 (4) establishes the sole remedy for a judgment creditor against a judgment debtor’s interest in single-member LLC.”