The Panama Papers document leak and recent condominium market studies confirm what many Floridians have long believed to be true — wealthy individuals from around the world are buying luxury condos in and around Miami to expatriate and protect foreign capital whether lawfully earned or ill-gotten.
This transfer of wealth to Miami may provide opportunities for foreign judgment creditors to satisfy in Florida their judgments against evasive foreign judgment debtors. Accordingly, the global business community should be aware that Florida’s version of the Uniform Out-of-Country Foreign Money-Judgment Recognition Act provides an effective and speedy process to domesticate foreign money judgments, which upon domestication may be collected as if they had been entered in the first instance by a Florida court.
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