Bagby

INTRODUCTION

More than five years ago, respondent Douglas A. Bagby obtained a $5 million default judgment against appellant Joseph D. Davis.1 Shortly after entry of judgment, Bagby unsuccessfully sought to levy on an annuity of which Davis is the beneficiary. Almost three years later, Bagby again sought to levy on that annuity. Davis argued collateral estoppel should bar this latter attempt to levy on the annuity. The trial court disagreed, finding changed circumstances obviated the application of collateral estoppel and Davis had failed to prove an exemption under applicable law. We affirm.

FACTUAL AND PROCEDURAL BACKGROUND

In 1996, Davis received an annuity as part of a settlement of a personal injury case. While Davis is the annuitant, an entity identified as “SABSCO” is the annuity’s owner; Symetra Life Insurance Company (Symetra Life) is the issuer, and the payments come through JPMorgan Chase. Bagby obtained judgment against Davis in July 2020, obtained a writ of execution, and sought to levy on Davis’s monthly annuity payments. In response, Davis claimed the annuity was exempt from collection because he was a resident of Florida and a Florida statute prohibits enforcing…