BANCO INDUSTRIAL DE VENEZUELA, C.A., MIAMI AGENCY, APPELLANT,
v.
FIRST FEDERAL SAVINGS & LOAN ASSOCIATION OF THE FLORIDA KEYS, ET AL., APPELLEES
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The court reviewed whether the Florida RICO Act grants authority to issue a temporary injunction restraining asset disposition upon filing a bond and showing immediate danger of significant loss, or if common law requirements of irreparable harm, clear legal right, and inadequate remedy at law are still necessary.
The dissenting judge disagrees with the majority's interpretation of the Florida RICO Act, arguing that common law equity requirements, in addition to the statutory requirements, are still necessary for issuing a temporary injunction.
The case concerns the interpretation of the Florida RICO Act regarding the requirements for obtaining a temporary injunction to restrain the dispositi…
The full statement of facts, procedural history, and disposition for this case are member content.
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PER CURIAM.
Banco Industrial de Venezuela appeals from a final judgment of foreclosure entered in favor of First Federal Savings & Loan Association of the Florida Keys. Notwithstanding the merits of Banco Industrial’s argument that the trial court erred by admitting parol evidence regarding the parties’ intent in entering into the subordination agreements, we affirm the final judgment. The controversy at trial centered on specific provisions of the mortgage and subordination agreements. We are convinced, having reviewed all the relevant documentation, that the trial court correctly concluded that the First Federal mortgage was superior. The order appealed from is accordingly affirmed.