Rallis v. Mark Equipment Center of South Florida, Inc.

District Court of Appeal of Florida

Rallis v. Mark Equipment Center of South Florida, Inc.

685 So. 2d 936, 1996 Fla. App. LEXIS 13139, 1996 WL 724212

CourtDistrict Court of Appeal of Florida

DecidedDecember 18, 1996

DocketNos. 94-1575, 94-1561

StatusPublished

This text of 685 So. 2d 936 (Rallis v. Mark Equipment Center of South Florida, Inc.) 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.

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Rallis v. Mark Equipment Center of South Florida, Inc., 685 So. 2d 936, 1996 Fla. App. LEXIS 13139, 1996 WL 724212 (Fla. Ct. App. 1996).

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Opinion

PER CURIAM.

Of the numerous issues raised by both the appellants/cross-appellees and the appel-lees/cross-appellants in this appeal from a final judgment finding corporate shareholders breached fiduciary duties, we find merit only in the claims regarding prejudgment interest and the statutory penalty award. The appellees/cross-appellants are entitled to prejudgment interest on the Powerline property award from the date of the sale of the property and on the remaining awards from the date of the verdict. See Pine Ridge at Haverhill Condo. Ass’n, Inc. v. Hovnanian of Palm Beach II, Inc., 629 So.2d 151 (Fla. 4th DCA 1993), rev. denied, 639 So.2d 978 (Fla.1994); Getelman v. Levey, 481 So.2d 1236 (Fla. 3d DCA 1985), rev. denied, 494 So.2d 1150 (Fla.1986).

As conceded at oral argument, the statutory penalty portion of the judgment must be vacated because the statute imposing the penalty was repealed. See K.M.T. v. Department of Health and Rehabilitative Services, 608 So.2d 865 (Fla. 1st DCA 1992). In all other respects, the judgment below is affirmed.

Affirmed in part; reversed and vacated in part.

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PER CURIAM.

Of the numerous issues raised by both the appellants/cross-appellees and the appel-lees/cross-appellants in this appeal from a final judgment finding corporate shareholders breached fiduciary duties, we find merit only in the claims regarding prejudgment interest and the statutory penalty award. The appellees/cross-appellants are entitled to prejudgment interest on the Powerline property award from the date of the sale of the property and on the remaining awards from the date of the verdict. See Pine Ridge at Haverhill Condo. Ass’n, Inc. v. Hovnanian of Palm Beach II, Inc., 629 So.2d 151 (Fla. 4th DCA 1993), rev. denied, 639 So.2d 978 (Fla.1994); Getelman v. Levey, 481 So.2d 1236 (Fla. 3d DCA 1985), rev. denied, 494 So.2d 1150 (Fla.1986).

As conceded at oral argument, the statutory penalty portion of the judgment must be vacated because the statute imposing the penalty was repealed. See K.M.T. v. Department of Health and Rehabilitative Services, 608 So.2d 865 (Fla. 1st DCA 1992). In all other respects, the judgment below is affirmed.

Affirmed in part; reversed and vacated in part.

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685 So. 2d 936, 1996 Fla. App. LEXIS 13139, 1996 WL 724212, Counsel Stack Legal Research, https://law.counselstack.com/opinion/rallis-v-mark-equipment-center-of-south-florida-inc-fladistctapp-1996.

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