CFLB Management, LLC v. Mabipa Overseas, S.A.
Lenders obtained summary judgment against a borrower on claims for breach of promissory note, reestablishment of lost notes, and, alternatively, money lent, with interest awarded at the simple and default rates stated in copies of the lost notes. The Third DCA affirmed solely on the money lent claim, holding that interest is properly recoverable as part of a claim for money lent, and declined to reach the lost-note reestablishment issues.
Key facts
- CFLB Management, LLC (lenders) obtained summary judgment against Mabipa Overseas, S.A. (borrower) on claims for breach of promissory note, reestablishment of lost notes, and money lent, with interest awarded at simple and default rates from copies of lost notes.
- The trial court found the funds were delivered as a loan on agreed terms, the borrower made interest-only payments before defaulting, and the loan remained unpaid.
- +1 more key fact with a free trial
Why it matters
Florida authority on the common count of money lent is sparse, and this opinion supplies a rare appellate holding that interest — including contractually agreed simple and default rates evidenced by copies of lost notes… — full analysis with a trial
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