Legal Question in Business Law in Florida

Yes, as long as your buyer is told.

By the term "sell," I assume you mean transfer to an unaffiliated third party in a negotiated transfer for fair market value. In that case, yes you can sell your business while in a lawsuit.

If you create an LLC that you own to sell the business to for $5, the opposing party can have that transfer set aside by the court and seize those assets. Under that scenario, the "sale" would be considered a fraudulent transfer because you would be preceived as trying to avoid your creditor.