The Florida Senate

727.108  Duties of assignee.--The assignee shall:

(1)  Collect and reduce to money the assets of the estate, whether by suit in any court of competent jurisdiction or by public or private sale, including, but not limited to, prosecuting any tort claims or causes of action which were previously held by the assignor, regardless of any generally applicable law concerning the nonassignability of tort claims or causes of action, and;

(a)  With respect to the estate's claims and causes of action, the assignee may prosecute such claims or causes of action as provided in this section or sell and assign, in whole or in part, such claims or causes of action to another person or entity on the terms that the assignee determines are in the best interest of the estate under to s. 727.111(4); and

(b)  In an action in any court by the assignee or the first immediate transferee of the assignee, other than an affiliate or insider of the assignor, against a defendant to assert a claim or chose in action of the estate, the claim is not subject to, and any remedy may not be limited by, a defense based on the assignor's acquiescence, cooperation, or participation in the wrongful act by the defendant which forms the basis of the claim or chose in action.

(2)  Within 30 days after the filing date, examine the assignor, under oath, concerning the acts, conduct, assets, liabilities, and financial condition of the assignor or any matter related to the assignee's administration of the estate, unless excused by the court for good cause shown.

(3)  Give notice to creditors of all matters concerning the administration of the estate, pursuant to s. 727.111

(4)  Conduct the business of the assignor for a limited period that may not exceed 14 calendar days, if in the best interest of the estate, or for a longer period if, in the best interest of the estate, upon notice and until such time as an objection, if any, is sustained by the court; however, the assignee may not operate the business of the assignor for longer than 45 calendar days without a court order authorizing such operation if an objection by a party in interest is interposed to the assignee's motion for authority to operate the assignor's business.

(5)  To the extent reasonable in the exercise of the assignee's business judgment, reject an unexpired lease of nonresidential real property or of personal property under which the assignor is the lessee.

(6)  To the extent reasonable and necessary, pay administrative expenses of the estate, subject, however, to s. 727.114(1).

(7)  To the extent necessary, employ at the expense of the estate one or more appraisers, auctioneers, accountants, attorneys, or other professional persons, to assist the assignee in carrying out his or her duties under this chapter.

(8)  Keep regular accounts and furnish such information concerning the estate as may be reasonably requested by creditors or other parties in interest.

(9)  File with the court an interim report of receipts and disbursements within 6 months after the filing date unless excused by the court or unless the estate has been sooner distributed in full.

(10)  Examine the validity and priority of all claims against the estate.

(11)  Abandon assets to duly perfected secured or lien creditors, where, after due investigation, he or she determines that the estate has no equity in such assets or such assets are burdensome to the estate or are of inconsequential value and benefit to the estate.

(12)  Pay dividends and secured or priority claims as often as is compatible with the best interests of the estate and close the estate as expeditiously as possible.

(13)  File with the court a final report of all receipts and disbursements and file an application for his or her discharge pursuant to s. 727.116

History.--s. 8, ch. 87-174; s. 941, ch. 97-102; s. 6, ch. 2007-185.