Smith v. Powder Mountain, LLC

2011 WL 2457906 (2011)

Study Aids
Case Briefs Overview
Casebooks
Case Briefs
S
From our private database of 46,300+ case briefs, written and edited by humans—never with AI.

Smith v. Powder Mountain, LLC

United States District Court for the Southern District of Florida
2011 WL 2457906 (2011)

RW

Facts

A federal district court presided over litigation between Arthur Smith and Powder Mountain, LLC. This primary dispute spawned a secondary dispute in which neither Smith nor Powder Mountain was involved. In the secondary dispute, the court awarded judgment for FDB II Associates, LP (FDB) (plaintiff) and against Arnold Mullen (defendant). Mullen was also the target of a state-court lawsuit filed by PFP Asset Recovery LLC (PFP). In that case, the state court entered judgment for PFP and ordered Mullen to turn over his Fidelity Investments (Fidelity) securities accounts. On June 30, 2010, Fidelity indicated it was willing to transfer Mullen’s accounts to PFP provided that PFP and Fidelity could resolve one essential detail of the transfer. That detail remained unresolved when, on July 1, 2010, FDB perfected its own security interest in Mullen’s accounts by serving Fidelity with writs garnishing those accounts. FDB instigated federal-court proceedings to determine the respective priority of FDB’s and PFP’s claims to the accounts. PFP argued for priority based on Fidelity’s June 30 expression of willingness to transfer the accounts to PFP.

Rule of Law

Issue

Holding and Reasoning (Hurley, J.)

What to do next…

  1. Unlock this case brief with a free (no-commitment) trial membership of Quimbee.

    You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 805,000 law students since 2011. Some law schools—such as Yale, Berkeley, and Northwestern—even subscribe directly to Quimbee for all their law students.

    Unlock this case briefRead our student testimonials

  2. Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.

    Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students.

    Learn about our approachRead more about Quimbee

Here's why 805,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 46,300 briefs, keyed to 988 casebooks. Top-notch customer support.
  • The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
  • Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
  • Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.

Access this case brief for FREE

With a 7-day free trial membership
Here's why 805,000 law students have relied on our case briefs:
  • Reliable - written by law professors and practitioners, not other law students
  • The right length and amount of information - includes the facts, issue, rule of law, holding and reasoning, and any concurrences and dissents
  • Access in your class - works on your mobile and tablet
  • 46,300 briefs - keyed to 988 casebooks
  • Uniform format for every case brief
  • Written in plain English - not in legalese and not just repeating the court's language
  • Massive library of related video lessons - and practice questions
  • Top-notch customer support

Access this case brief for FREE

With a 7-day free trial membership

Casebooks

Commercial Law

Key Terms