Kirchner v. Interfirst Capital Corp.
Docket: 98-2811
Court: District Court of Appeal of Florida; May 21, 1999; Florida; State Appellate Court
Wendy Kirchner appealed a decision from the circuit court regarding her claim against Interfirst Capital Corporation, which was submitted to arbitration under various theories, including a violation of the Florida Securities Investor Protection Act (FSIPA). The arbitration resulted in her favor, with the arbitrators stating that they lacked authority to award attorney's fees directly and referred the matter to a competent court. Kirchner's request for attorney's fees was denied by the circuit court, citing *Pharmacy Management Services, Inc. v. Perschon* as precedent. The appellate court identified this as an error, clarifying that *Perschon* is inapplicable because it pertains to cases where the arbitrator does not disclose the basis for their decision on fee entitlement. In Kirchner's case, the arbitrators clearly ruled that Interfirst breached its obligations under the consumer protection provisions of the securities law, which justifies an award of attorney's fees. The court noted that Kirchner, a widow who lost a significant investment of $26,500 due to unsuitable trading recommendations made by Interfirst, should not have to bear the burden of attorney's fees resulting from the broker's violation of statutory duties. The appellate court reversed the trial court's denial of attorney's fees and remanded the case for the determination of the appropriate amount. Judges Dauksh and Thompson concurred with the decision.