Wendt v. La Costa Beach Resort Condominium Ass'n

Summary

The Florida Supreme Court held that section 607.0850, Florida Statutes, authorizes corporate directors to seek indemnification from the corporation for actions brought against them by the corporation itself. The Court quashed the Fourth District Court of Appeal’s contrary decision and approved the reasoning of the First District in Turkey Creek Master Owners Ass’n v. Hope. The Court remanded for further proceedings without deciding whether indemnification was warranted under the facts.

Holdings

1. Section 607.0850 authorizes corporate directors to seek indemnification from the corporation for actions brought against the directors by the corporation itself.
2. The directors were not categorically barred from pursuing indemnification, and the dismissal of their complaint on that basis was erroneous.

Questions Presented

1. Whether section 607.0850, Florida Statutes, authorizes corporate directors to seek indemnification from the corporation when the corporation itself brought the underlying action against them.
2. Whether the directors' indemnification complaint stated a legally cognizable cause of action under section 607.0850.

Disposition

quashed