No. Instead, driven by its distressed financial position, it chose to take the only deal on the table other than NPT's. . at 87.) In a November 1, 2021 ruling, Judge Andrea McHugh, a Florida circuit court judge, granted class-action status to the suit by former members against the club and Concert Plantation, LLC. Credibility determinations, the weighing of evidence, and the drawing of legitimate inferences from those facts are matters left to the jury. However, the Court permitted the fraud claim against CGP and Nanula to proceed to the extent it was based on the representation that they would spend $5 million in capital improvements. 6:21-CV-00134 | 2021-04-08. 59 at 27-32.). 100-26, Ex. On October 3, 2016, Meyer informed Nanula that the AOS had been terminated and that PCC was considering its options for moving forward. The Motion by Concert Plantation and PGCC to continue/delay the trial is DENIED. 149-1 at 30-31.) I said no; about $5m is all we could afford to plow back. Ins. ), Because NVR is a homebuilder and does not engage in real estate development, it assigned its agreement with PCC to NPT, a developer. Judgment will be entered against a party who fails to sufficiently establish any element essential to that party's case and who bears the ultimate burden of proof at trial. 149-1 at 14.) And PCC did not push back or drive a harder bargain to get CGP to expend more money on capital improvements following the sale of the developed Property-things that could have increased its own profit as well. (See, e.g., 123-5, Ex. No. Applying New Jersey law, courts in this district have allowed breach of contract claims to proceed despite proof of actual damages. (quoting Nappe v. Anschelewitz, Barr, Ansell & Bonnello, 477 A.2d 1224 (N.J. 1984)); Norfolk S. Ry. ), In its response, NPT asserts that the Concert Defendants' argument that the gist of the action doctrine bars the fraud claim necessarily fails because the Court already found the gist of the action doctrine inapplicable. (See Doc. at 22.) ), J. PCC Decides Not to Pursue a Deal with NPT. (Id. Founded Date 1986. A.) No. WKAR relies on individual No. 116-19, Ex. The proposed Seventh Amendment was not executed. No. No. NPT relies on the evidence of disgruntled members to support its contention that Ridgewood and CGP's relationship was material. at 83 (On December 12, 2016, Nanula met with members of Philmont at the Club and made a power point presentation relating to CGP's proposal to acquire the Club.).) 22-2596 | 2022-08-29, Palm Beach County 15th Judicial Circuit Courts | Civil Right | (Upon the sale of the fully entitled redeveloped portion of the property to a homebuilder, the waterfall will be as follows: -First, 50/50 to Ridgewood to repay the actual Approval Costs expended, -Second, 100% to Concert for the next $5MM of proceeds, -Last, 50/50 to Concert and Ridgewood for all additional proceeds.). In other words, CGP would not be purchasing Philmont Club directly. In response, Nanula explained that PCC had two choices: (1) they could either get the full proceeds of the sale of the Property, if a sale ever even occurred, and bear all the risks and costs during the process or (2) allow CGP to rescue and fix the club now without taking any risk or bearing any cost at all. (Id.) Throughout its response, Plaintiff emphasizes the distinction between fraudulent concealment under 550 and fraudulent nondisclosure under 551 and the fact that a duty to disclose is only required under 551-not 550. A. Thus, the Court grants the Ridgewood Defendants' motion for summary judgment as to the 550 claim. 149-1 at 50. We promised members $5m of Phase 2 capex, which will be more like $4.5m. A.) 116-10, Ex. Please Update this case to get latest docket information. Citing to comment l to 551, NPT argues that the Concert Defendants' behavior amounted to swindling. Pa. June 23, 2008); Youndt v. First Nat'l Bank of Port Allegany, 868 A.2d 539, 550 (Pa. Super. D at 29:13-22. No. Fraudulent concealment is characterized by deceptive acts or contrivances intended to hide information, mislead, avoid suspicion, or prevent further inquiry into a material matter. Gnagey Gas & Oil Co., 82 A.3d at 501 (quoting Colton, 231 F.3d at 898-99); see also Id. A (We have to assume no real estate transaction might ever be possible, due to the environmental remediation vagaries and cost; the extensive infrastructure costs for the Philmont Ave. intersection project; and the Town approval uncertainties.).) ), CGP is involved in the golf club industry. Section 550 applies to fraudulent concealment claims (i.e., active concealment), while Section 551 applies to fraudulent nondisclosure claims (i.e., mere silence). ; see also Doc. As Jonathan mentioned, we very much intend to put a proposal in front of you, that at the least, we hope will open the stage for further discussion); Doc. WebDocket for NORTH PENN TOWNS, LP v. CONCERT GOLF PARTNERS, LLC, 2:19-cv-04540 Brought to you by the RECAP Initiative and Free Law Project, a non-profit dedicated to creating high quality open legal information. (Doc. 149-1 at 48; see also Doc. 2 to Ex. This is not a fact basic to the transaction.). 116-4, Ex. The initial burden of demonstrating that there are no genuine issues of material fact falls on the moving party. No. at 23. Nanula told Plotnick, however, that if a consensus was not reached, Meyer may come back to you, and ask for $7m instead of $5m. (Id.) ), On August 26, 2021, NPT filed an Amended Complaint. Q.) Silverman also testified that Nanula wasn't being very honest with us and stated he does not like doing deals with people that aren't honest. (Id. The evidence showed that Gnagey had discarded the abandoned tanks and the soil, and backfilled the excavated area without informing the Fund that it discovered the abandoned tanks; changed its invoicing procedure to the Fund after discovering the abandoned tanks; and issued three invoices to the Fund accompanied by photographs, narratives, and a chronology of daily work activities, all of which failed to document or disclose the abandoned tanks. Id. Plotnick and Meyer spoke on the phone on October 5, October 10, and October 13. 124-1 at 11-12. . No. . by concealment or other action intentionally prevents the other from acquiring material information. Restatement (Second) of Torts 550. LL. That is not what this Court held. 14 to Ex. 28, 2018) (A party' is defined as someone who takes part in a transaction.' . Ridgewood moves for summary judgment on this claim, arguing that because Silverman testified that PCC suffered no damages from Ridgewood's breach, NPT cannot prove an essential element of a breach of contract claim. . Rostholder v. Omnicare, Inc., 2012 WL 3399789, at *14 n.18 (D. Md. Credibility determinations, the weighing of evidence, and the drawing of legitimate inferences from those facts are matters left to the jury. (Id. (Doc. 100-5, Ex. ), CGP. (Id. And when asked specific questions related to the tanks, Gnagey failed to provide pertinent information. No. J (stating that the purpose, scope and intent of the development has substantially changed).) 2020-03-13, U.S. District Courts | Civil Right | (Id. 101-1 at 6 n.2, 17.) Compare Restatement (Second) of Torts 551, cmt. at 26. WebConcert Golf Partners is a boutique owner-operator of private clubs based in Newport Beach, Calif. X at 65:20-66:21. ), The following day, July 23, NPT and PCC entered into an agreement of sale (AOS), pursuant to which PCC agreed to sell the Property to NPT for $12 million, assuming a yield of 162 lots. . 2 to Ex. NPT also argues the Concert Defendants had a duty to disclose under 551(2)(b). When I say they went to bat for methis Law Firm literally did just that. 10; Doc. The Court concludes that no reasonable juror would find Ridgewood and CGP's relationship-and the profits they would garner from their separate and independent transaction-was material. Namely, the FFE Agreement provided that the defendants would provide cash and all finance advisory services necessary to generate earnings, the plaintiff would receive 99.9% of the net profits, and when the FFE was dissolved, the plaintiff would receive distributions equal to $4 million. See The Roskamp Inst., Inc. v. Alzheimer's Inst. ), Under the AOS, the purchase price for the Property was based on a per unit yield; the AOS contemplated a minimum yield of 150 units. . ), Age Discrimination in Employment Act (ADEA) - 29 USC 621-634 ), Defendants are correct that 550 and 551 impose liability only on one who is a party to a transaction. No. Nanula explained that Meyer wanted to explore how we could give the club 100% of all our real estate proceeds in 2-4 years when a deal happens. (Id.) W at 27:1-10, 35:18-36:11, 46:4-8. The Kabelins invested significantly more than $1,200 in the golf club. No. No. 101-1 at 11.) No. 100-5, Ex. No. Corp., 66 F.3d 604 (3d Cir. Because the gist of the action doctrine analysis is dispositive and bars NPT from bringing its fraud claim against the Concert Defendants, the Court does not address the Concert Defendants' other arguments as to why summary judgment is warranted on the fraud claim. (Doc. A; Doc. However, in Bucci, the court never analyzed the Restatement (Second) of Torts 551; rather, it mentions the Restatement only once, in passing, as part of a see also cite for when a duty to speak arises. The plaintiff alleged that defendant Willis fraudulently induced him to enter into a contract (the Foxcode Far East LLC Agreement (the FFE Agreement)) and provide defendants Willis and Foxcode with $4 million by falsely representing that if he placed a $4 million investment with them, they would manage the money for his benefit, deliver a return on the investment, and guarantee that the $4 million principal would ultimately be returned in full once the investment was completed. (See id. Cancellation and Refund Policy, Privacy Policy, and ), K. PCC Members Are Dissatisfied and Unhappy in the Years Following the Sale, In the years following the sale, many Club members resigned because they were displeased with how the deal panned out and how the Club changed. (See Doc. Silverman also wrote, The current GM has a list of potential capital projects with some detail but we will need to get a copy of that list from him and forward to you. (Id.) 37 to Ex. If the suit cannot be resolved through mediation, the plaintiffs want a jury trial. A. with Doc. 16 to Ex. Chairman and (See Doc. Absent a viable claim of fraud, the Foundation could not have aided and abetted any tort.). Although this Court has held that CGP and Nanula were not parties to the PSA (see Doc. 19 to Ex. No. (quoting Colton, 231 F.3d at 898-99); accord U.S. ex rel. (Id. (Doc. . Privacy Policy | Terms | Careers with mctlaw. No. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 255 (1986). ), Fields forwarded Nanula's email to PCC's then-Treasurer, Sam Silverman. No. . A (said email exchange).) 149-1 at 54; Doc. (Doc. ), At no point did the Concert Defendants inform PCC that they were in talks with Ridgewood and planned to paper the deal on the real estate opportunity. (See Doc. 100-5, Ex. All of these ball drops' as Peter Nanula would refer to them, along with the disregard to the contract (60 Acres of Land vs 80, Modern Clubhouse Standards, Outings during off-peak times, and $5M of improvements [I'd be shocked if half of that was spent with the patchwork that has been done to date]) have brought me to my design [to resign. ' Matsushita, 475 U.S. at 587 (citation omitted). (Doc. Concert Golf acquired 36-hole, 295-acre Philmont, which was founded as an all-Jewish club in 1906, in February 2017 in a deal that involved the payoff of the clubs debt and other commitments and bought White Manor CC under a similar arrangement at the end of 2016, the Inquirer reported. 149-1 at 37.) Deposition of Corporate Representative for Concert Golf Partners, LLC, Deposition of Corporate Representative for Concert Plantation, LLC, Deposition of Corporate Representative for Concert Golf Partners Holdco, LLC, Deposition of Corporate Representative for Golf GP II, LLC, Deposition of Corporate Representative for PGCC. 53 at 53-57; see id. (Doc. At first, PCC agreed to sell the Property to Toll Brothers, but Toll Brothers terminated that agreement in July 2014. No. He told me to call him back in 6 months.).). Summary judgment is appropriate if the movant shows that there is no genuine dispute as to any material fact and the movant is entitled to judgment as a matter of law. Fed.R.Civ.P. 100-5, Ex. NN at 262:10-21.) . (Doc. However, the Court dismissed the only cause of action asserted against those entities-civil conspiracy, so they are no longer Defendants in this action. By continuing to use this website, you agree to UniCourts General Disclaimer, Terms of Service, Ins. That same day, Meyer and Nanula had a phone call regarding the terms under which the Concert Defendants would purchase Philmont Club. No. 100-28, Ex. 100-5, Ex. No. Litig., 90 F.3d at 714 (in the context of securities litigation, discussing whether the alleged misrepresentations or omissions are so obviously unimportant to an investor); Parasco, 920 F.Supp. The Class provides the Court with its arguments explaining that there are fact issues that need to go to a jury to decide. A. ), On September 28-the day after Plotnick and Grebow toured Philmont Club-Nanula texted Plotnick and asked if there were any club opportunities that CGP could help Ridgewood with, and Plotnick responded that he was working on something that may fit. Formed by Peter Nanula, the founder and CEO of Arnold Palmer Golf Management (1993 to 2000), Concert Golf has amassed a pool of patient, long-term equity capital to invest in and upgrade large-scale private clubs located in major metro areas. mctlawis a federally registered trademark. We are in need of more than capital funding. 100-5, Ex. And the best part of all, documents in their CrowdSourced Library are FREE! 124-1 at 8. No. . . ), Meyer testified that the Concert Defendants had discretion as to do what they wished as to the four general areas of capital improvements discussed and that the Concert Defendants did everything that was discussed. (See Doc. . Scrape $2.5m here.').) This case was filed in U.S. District Courts, Florida Middle District. In a later email, he also attached a much more likely-and more detailed-list of our initial capital projects at Philmont CC, which were [n]ot to be shared with [opposing counsel] or Seller. (Id. We are a boutique owner-operator of upscale private golf & country clubs nationwide. . ), NPT. See, e.g., Plexicoat Am., LLC v. PPG Architectural Finishes, Inc., 9 F.Supp.3d 484, 487-88 (E.D. No. Ridgewood appears to argue that Pennsylvania law applies. CGP proposed to (1) pay off PCC's approximately $963,000 in debt, (2) assume or restructure capital leases and other obligations, (3) make approximately $4 million of initial capital improvements to Philmont Club within 12 to 14 months, (4) commit to fund ongoing capital reserve at three to four percent of revenues (approximately $1 million over five years), and (5) upon the sale of the Property in two to four years, make an additional approximately $5 million in capital improvements. Nanula predicted that he would be in front of [PCC's] Board or at least Executive Committee by midNovember and will see if a consensus can be reached on our proposal. (Id.) 2003). CONCERT GOLF PARTNERS waiver sent on 12/31/2018, answer due 3/1/2019; CONCERT PHILMONT, LLC waiver sent on 12/31/2018, answer due 3/1/2019. 100-5, Ex. Judge issues Order denying the rehearing requested by The Class. A subsidiary of Concert Golf Partners that controls the Plantation Golf and Country Club (PGCC) in Venice, FL faces a class-action lawsuit brought by former members who say they were denied millions of dollars in refunds. No. In the Amended Complaint, NPT, as assignee, brings a fraud claim against CGP and Nanula (Count I); a fraudulent concealment claim against all Defendants, brought pursuant to Restatement (Second) of Torts 550 (Count II); a fraudulent nondisclosure claim against all Defendants, brought pursuant to Restatement (Second) of Torts 551 (Count III); aiding and abetting fraud claims against Concert Defendants (Count IV) and Ridgewood Defendants (Count V); and a breach of contract claim against Ridgewood (Count VI). This underscores the fact that Meyer and PCC understood CGP, a golf hospitality firm, would be working with a developer. No. At the conclusion of the meeting the Seller agreed to a minimal reduction in the sales price and unfortunately, without an Amendment to the LPA, we are forced to provide you this notice. (Id.) (Our proposal guarantees you all of the money that is currently at risk in the existing Center [sic] Golf offer.). That same day, Stallone also sent Nanula NPT's sketch plan for the Property, which had been prepared by NPT's engineer. No. W, 54:10-22).) 149-1 at 19, 60, 64; Doc. No. 53 at 53 (Because CGP and Nanula were not parties to the PSA, the integration clause does not apply to them and NPT's fraud claims against them survive the motion to dismiss.)), courts have stated that an individual can be a party to a transaction for purposes of 550 and 551 liability even if they were not a party to the contract itself. No. (See id. Concert Plantation and PGCC file a Motion to freeze the lawsuit until the Appeals Court rules on Class Action Certification. at 27 (At this stage in the litigation, the Court is not persuaded by Defendants' contention that the fraud claims arise under the PSA. And the only two cases cited by Plaintiff and Defendants are not particularly analogous. (Doc. (Compare id., with Doc. (Doc. To the contrary, the record shows that PCC was aware that CGP, a golf operator, would want to partner with a developer to develop the Property, that PCC's then-President had passed along the information for a potential developer, and that under the terms of the PSA, the second phase of capital improvement projects would occur only after the sale of the developed Property. In fact, during oral argument, NPT could not identify a case providing that two companies cannot make plans to acquire a company together, unbeknownst to the seller. 100-8, Ex. No. The change of bylaws without consent from resigned members is a self-serving business practice by PGCC. A (Sent Glenn a proposal yesterday . About a week later, on October 5, Plotnick emailed Tom Bennison from ClubCorp, attaching PCC's financials, including financial statements, profit and loss spreadsheets, and a 2016-2017 budget. (See Doc. Case Details Parties. ), Ridgewood. Specifically, some members stated that they were displeased with how the Concert Defendants fulfilled (or failed to fulfill) the terms of the PSA. 2022) (holding that the evidence produced by [the plaintiff] would allow a reasonable jury the option of concluding by clear and convincing evidence that Drexel misrepresented or concealed its own projections for student enrollment). No. (ahf) (Entered: 12/31/2018), DocketSummons Issued as to CONCERT GOLF PARTNERS, CONCERT PHILMONT, LLC. Two days later, on November 4, Plotnick responded, I completely understand what you are trying to do and I think your proposal is pretty close; he believed they had the basis for a deal, with just a few minor tweaks. ), filed by JAMES STEVENS. PGCC and Concert file their reply objecting to the request for rehearing by The Class. Because a party to a transaction is broader than a party to a contract, the fact that CGP and Nanula were not parties to the PSA is not dispositive. 116 at 28-29. Neither of these situations is present here. Finally, one place to get all the court documents we need. No. See Gnagey Gas & Oil Co., 82 A.3d at 501-02 (explaining difference between passive concealment and mere silence versus active concealment and suppression of the truth). Although the meeting went well and the Township want[ed] to get the deal done (see id. . 149-1 at 136-37. at 1274-75. 100-28, Ex. No. NPT is correct-it is undisputed that Defendants did not disclose that they were working together. Viewing all the facts in the light most favorable to Plaintiff and drawing all inferences in its favor, the Court finds that a reasonable juror could conclude that the Concert Defendants' actively concealed their relationship with Ridgewood from PCC. United States District Court, E.D. 11 (January 20, 2017 email from Grebow to Nanula, stating Meeting with the manager went well . NPT planned to develop the Property and sell the developed lots to NVR to build homes. Shortly after the visit, Plotnick emailed Meyer, stating, Thanks again for taking the time to speak with and tour Jonathan and I [sic] today. A (September 28, 2016 email from Michael Tulio, then-Vice President of Land Acquisition at Metropolitan, stating, I'm willing to post a deposit of 750K to show our commitment and when the zoning portion is approved and the appeal period passes I will release to the club 375K, then after the Environmental release the balance making it fully non refundable and for the club to use as they see fit. On October 26, Nanula toured the Philmont Club. The mere fact that Ridgewood showed interest in making an offer to PCC and followed up with telephone calls does not mean that they were parties to a transaction, whether business-related or not. ), filed by JAMES STEVENS. Afford to plow back they were working together from acquiring material information had a duty to disclose 551. Waiver sent on 12/31/2018, answer due 3/1/2019 the plaintiffs want a jury to.. ' Motion for summary judgment as to the PSA ( see Id lots to NVR to build.. 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