Multicredit, Inc. v. Ecoban Capital Ltd.

District Court of Appeal of Florida

Multicredit, Inc. v. Ecoban Capital Ltd.

555 So. 2d 1249, 14 Fla. L. Weekly 2704, 1989 Fla. App. LEXIS 6484, 1989 WL 139511

CourtDistrict Court of Appeal of Florida

DecidedNovember 21, 1989

DocketNo. 89-1055

StatusPublished

Cited by1 cases

This text of 555 So. 2d 1249 (Multicredit, Inc. v. Ecoban Capital Ltd.) is published on Counsel Stack Legal Research, covering District Court of Appeal of Florida primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Multicredit, Inc. v. Ecoban Capital Ltd., 555 So. 2d 1249, 14 Fla. L. Weekly 2704, 1989 Fla. App. LEXIS 6484, 1989 WL 139511 (Fla. Ct. App. 1989).

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Opinion

PER CURIAM.

We affirm a mandatory temporary injunction requiring the appellant to cash and place the proceeds of letters of credit into the court registry. We reject the claim that appellee failed to establish irreparable injury since seven days following entry of the injunction, the letters of credit would have expired on their own terms. We also reject the claim that Socie-dad Financiera Cash, S.A. was an indispensable party because under the circumstances Sociedad was at most a necessary party. We nonetheless agree with appellant that the trial court erred in not requiring the appellee, as successful movant for the injunction, to post a bond in accordance with the provisions of Florida Rule of Civil Procedure 1.610(b). The decision in Parker Tampa Two, Inc. v. Somerset Dev. Corp., 544 So.2d 1018 (Fla.1989), which the trial court did not have the benefit of at the time of the entry of the injunction, holds that damages for the improvident issuance of an injunction are limited to the amount of the injunction bond. For this reason, upon issuance of our mandate, the trial court is directed to require the movants to post a reasonable bond retroactive to the date of the entry of the temporary injunction.

Affirmed in part, reversed in part, and remanded.

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PER CURIAM.

We affirm a mandatory temporary injunction requiring the appellant to cash and place the proceeds of letters of credit into the court registry. We reject the claim that appellee failed to establish irreparable injury since seven days following entry of the injunction, the letters of credit would have expired on their own terms. We also reject the claim that Socie-dad Financiera Cash, S.A. was an indispensable party because under the circumstances Sociedad was at most a necessary party. We nonetheless agree with appellant that the trial court erred in not requiring the appellee, as successful movant for the injunction, to post a bond in accordance with the provisions of Florida Rule of Civil Procedure 1.610(b). The decision in Parker Tampa Two, Inc. v. Somerset Dev. Corp., 544 So.2d 1018 (Fla.1989), which the trial court did not have the benefit of at the time of the entry of the injunction, holds that damages for the improvident issuance of an injunction are limited to the amount of the injunction bond. For this reason, upon issuance of our mandate, the trial court is directed to require the movants to post a reasonable bond retroactive to the date of the entry of the temporary injunction.

Affirmed in part, reversed in part, and remanded.

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555 So. 2d 1249, 14 Fla. L. Weekly 2704, 1989 Fla. App. LEXIS 6484, 1989 WL 139511, Counsel Stack Legal Research, https://law.counselstack.com/opinion/multicredit-inc-v-ecoban-capital-ltd-fladistctapp-1989.

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