), In May 2015, PCC agreed to sell the Property to NVR, Inc., a homebuilder. Ct. 2013) ([S]ection 551 imposes liability for nondisclosure of information when the defendant has a specific duty to disclose, which arises only in certain, enumerated circumstances.). Concert Golf Partners inherited the suit when it purchased the club in January 2019. . The Motion by Concert Plantation and PGCC to continue/delay the trial is DENIED. No. Judge issues Order denying the rehearing requested by The Class. Q: And why is that? . 173)-notwithstanding the fact that he had told Ridgewood that he was ready to paper [their] deal the week prior (Doc. I cant recommend this firm enough. (See Doc. . (ii) to honor its commitment to retain 9 holes of the South Course (or to at least offer an acceptable alternative in light of its refusal to comply with the terms of our Agreement of Sale regarding the South Course), (iii) to provide evidence of the capital it has spent to date, (iv) to provide evidence of its retention of the capital reserves generated as a percentage of Member revenues as required under our Agreement of Sale, and (v) to create and implement a business plan that honors its obligations under our Agreement of Sale to return Philmont to an elite' country club status.).) We need active, independent management expertise and an immediate infusion of operating and capital support.). a. ; see also Doc. 100-35, Ex. A (Eighth Amendment to the AOS, extending the due diligence period from September 16, 2016 to September 26, 2016). P.) The following day, on December 1, Stallone sent Nanula the draft of the text amendment he presented to Lower Moreland Township's Board of Supervisors at its September meeting related to zoning. When the bankruptcy court did not approve the sale, Pueblo Bank & Trust Company, LLC (PBT) purchased the property at a bankruptcy auction and then transferred the land to RLH. (See Doc. Hearing before Judge McHugh on motions to continue/delay hearing and trial. . (Doc. For these reasons, the Court finds that Ridgewood is not a party to a business transaction for purposes of 551 and grants summary judgment to Ridgewood on NPT's fraudulent nondisclosure claim against it. No. at 496-97, 503-04. 14 to Ex. Meyer's testimony underscores that CGP taking over as golf operator and CGP's monetary promises (i.e., paying off PCC's debt and spending $4 million in capital expenditures initially, followed by another $5 million upon the sale of the Property) were the bases of the transaction: It is also noteworthy that, before the PSA was executed, Meyer provided Nanula with the contact information for NVR and NPT/Metropolitan. W at 117:17-22; see also id. (Doc. No. Pa. 2014 (collecting cases); CRS Auto Parts, Inc. v. Nat'l Grange Mut. 125-1 at 76 (Nanula gave Meyer his preliminary thoughts on a proposed transaction); id. 53 at 27-29 (At this stage in the litigation, the Court is not persuaded by Defendants' contention that the fraud claims arise under the PSA. at 2 (stating that Concert Philmont LLC would establish and operate the Club); see also Doc. No. (Id.). For the reasons that follow, the Court grants in part and denies in part the motions. The Class serves the report of its expert Chris Foux regarding how much The Class is owed. However, the amount of money the club saves from lowering refund amounts greatly outweighs the amount they have to pay in a few lawsuits over the refunds. Whether the Concert Defendants and/or Ridgewood Defendants Were Parties to a Transaction with PCC, The Concert and Ridgewood Defendants argue that summary judgment is mandated on the fraudulent concealment and fraudulent nondisclosure claims because 550 and 551 of the Restatement impose liability only on one who is a party to the transaction and CGP, Nanula, Ridgewood, Plotnick, and Grebow were not parties to the PSA. In allegedly creating the mayhem, Coutu became part of the transaction.). 100-24, Ex. was basic to the transaction. (See Doc. & PowerReit, No. No. 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. In sum, even when viewing the evidence in the light most favorable to Plaintiff, the Court cannot conclude that CGP and Ridgewood's relationship-and the fact that the pair would profit from that relationship-was a fact basic to the transaction. ), H. PCC Sells Philmont Club to the Concert Defendants, On November 17, PCC's Board of Directors approved CGP's proposal. (Id. AA.) A: . No. 124-1 at 11-12. No. 59 at 36.) Specifically, NPT alleges that CGP falsely represented that it would make $4 million in initial capital improvements upon acquiring PCC and another $5 million in capital improvements upon the sale of the Property when, in fact, it never intended to expend[] the full amount or engage in those projects as represented. (Id. On November 2, 2016, Nanula emailed Plotnick, I hope you guys will stand back, profess some concerns about the real estate risks, and just wait to see if I can strike a better deal for all of us here. Pa. 2009) (collecting cases); see also First United Bank & Tr. No. 3 to Ex. (Doc. (Id. 116 at 26.) Rumsey Land Company (Rumsey) owned a property, and when Rumsey filed for bankruptcy, Resource Land Holdings, LLC (RLH) offered to purchase the property. . 149-1 at 63; Doc. No. 100-18, Ex. [A]: I'm not sure whether there is a case that talks about two companies cannot do that.).). The due diligence period was extended until September 29, 2016 through a series of eight amendments to the AOS. . No. Plotnick also proposed that [u]pon the sale of the real estate, the net proceeds [would] flow through the following waterfall: [f]irst, 60/40 (Concert/Ridgewood) until all out of pocket costs have been returned to both parties; [s]econd, 100% to Concert for the next $7MM. ), On November 30, Meyer emailed Nanula the contact information for NVR and NPT/Metropolitan as a potential developer Nanula could work with for developing the property. (Doc. ; see also id. 100-5, Ex. A: Again, I - I don't - that I can't answer. Scrape 2.5m here.; and (3) Split remainder 60-40. (Doc. . He said they were working on a deal with a RE developer, and could not do anything else right now. 5 (September 16, 2014 email in which Nanula wrote, Spoke to Glenn Meyer. 100-5, Ex. 100-29, Ex. You will see. Pa. Oct. 23, 2015) (Plaintiffs in this case fail to allege an actionable underlying fraud that the Foundation could have aided and abetted . (Doc. No. ), M. The Limited Assignment Agreement Between PCC and NPT, On March 3, 2017, NPT initiated a lawsuit against CGP and PCC in the Montgomery County Pennsylvania Court of Common Pleas (Case No. That this deception was undiscoverable, regardless of [PCC's] efforts, yields a duty to disclose.).) ), On December 12, Nanula met with PCC's membership and gave a presentation on CGP's proposal to acquire the Club. No. ClubCorp and Morningstar are both golf course operators. United States District Court, E.D. 149-1 at 14.) at 97. Concert Golf Partners is a boutique operator of private golf and country clubs headquartered in Lake Mary, FL. The Class is defined as: All individuals (or their guardians or representatives) who had an effective resigned equity membership before April 1, 2016, and who have not received their full refund amount., Written Order granting Class Certification issued. After CGP Submits Its Proposal to PCC, CGP and Ridgewood Continue to Discuss Working Together and a Potential Deal, On November 2, Nanula emailed Plotnick to bring him up to date on PCC's reaction to CGP's proposal to purchase Philmont Club. at 40:16-42:21 (Q: So given that, given your goal of maximizing return, if two potential bidders are - if they are talking with one another about their offers, would you agree that by doing that they are interfering with your goal to maximize the return for the members? (See July 19, 2022 Hr'g Tr. The Court dismissed the fraud claim asserted against Ridgewood, Plotnick, and Grebow and the fraud claim asserted against CGP and Nanula to the extent it was based on representations about the riskiness of developing the Property or retaining 27 holes of golf, finding that NPT failed to allege justifiable reliance. The transaction closed on or around March 1. No. (Id. ), That same day, Meyer sent a letter to PCC's membership, informing them of the terms of CGP's proposal. As an experienced leader in these types of lawsuits, we were confident the firm would have the expertise. No. 9; Doc. 124-1 at 48-50. 117 at 24 n.4.). (Doc. 11-5676, 2015 WL 4597970, at *11 (E.D. Last, the Court denied the motion to dismiss NPT's breach of contract claim against Ridgewood, which was based on Ridgewood's alleged violation of a confidentiality agreement. (Id. As to the Ridgewood Defendants, NPT summarily asserts that they were parties to a transaction because they participated in the transaction by colluding with the Concert Defendants. (Doc. (Doc. Nanula wrote, If so, great - we will move ahead on our club deal, and start working with you on the real estate deal. (Id.) 53 at 26-30; see also id. 149-1 at 47. ), F. PCC Engages in Separate Discussions with NPT, Ridgewood, and CGP About Selling the Property and/or Philmont Club, After NPT terminated the AOS on September 26, PCC had separate discussions with NPT, Ridgewood, and CGP about potential deals. Philmont Club's facilities also included a tennis court, swimming pool, and clubhouse. No. See Gaines, 354 F.Supp.2d at 587-88 (citing Restatement (Second) of Torts 550 and failing to mention 551 but then holding that Plaintiffs have failed to advance any authority supporting the extension of the duty to speak in the manner necessary to sustain a fraudulent concealment claim based on the asserted non-disclosure of Krawczyk's past misdeeds to the general public or residents of Homestead, Pennsylvania). The change of bylaws without consent from resigned members is a self-serving business practice by PGCC. Shortly after the visit, Plotnick emailed Meyer, stating, Thanks again for taking the time to speak with and tour Jonathan and I [sic] today. Underground Storage Tank Indemnification Fund, 82 A.3d 485, 501 (Pa. Cmw. at 113. A.) It will be paid in installments as summarized below but 100% of the money is guaranteed with no contingencies on Township approvals or environmental issues. No. Ultimately, the Seventh Amendment to the AOS that was executed did not include any purchase price adjustments and merely extended the due diligence period to September 16, 2016. ), CGP is involved in the golf club industry. When I say they went to bat for methis Law Firm literally did just that. We are taking the risk in this scenario, not the club.); accord id., Ex. 125-3, Ex. North Penn Towns LP v. Concert Golf Partners LLC, et al, PIERRE, BELLANDE V CONCERT INDIAN SPRING LLC, NORTH PENN TOWNS, LP v. CONCERT GOLF PARTNERS, LLC et al, Golladay v. Ryman Construction, Inc. et al, Acosta v. Texas Department of Criminal Justice. ), On September 23, 2016, Plotnick emailed Meyer to discuss a potential relationship at Philmont. (Doc. Federal courts applying Pennsylvania law have agreed with the impropriety of summary judgment in such a situation. At no point did Ridgewood formally offer to purchase the Property or any portion thereof. Nos. 116 at 26-27.) A, #3 & #5.) 17 to Ex. (See Doc. . ), 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. ), Meyer testified that he did not have extensive conversations with Ridgewood but that he would be the most knowledgeable on the conversations that did occur. a, the Court considers whether there is a genuine issue of material fact as to whether the Concert Defendants intentionally prevented PCC from acquiring material information. . The Augusta Gnagey Gas & Oil Co., Inc. v. Pennsylvania Underground Storage Tank Indemnification Fund illustrates the type of conduct that constitutes active concealment. Viewing the facts in the light most favorable to NPT and drawing all inferences in NPT's favor, the Court infers from the fact that Plotnick and Meyer had several phone calls in October 2016 that there were ongoing discussions about Ridgewood's interest in purchasing a portion of the Property or the entire club. Mctlaw fights for you to get the correct refund amount from Plantation Golf and Country Club. J (stating that the purpose, scope and intent of the development has substantially changed).) the law ordinarily infers that damage ensued, and, in the absence of actual damages, the law vindicates that right by awarding nominal damages.' On November 30, 2016, after learning that CGP had an interest in acquiring Philmont Club, Marty Stallone, an Executive Vice President at Metropolitan, sent Nanula the AOS between NPT and PCC, along with the Eighth Amendment. Co., 920 F.Supp. He wanted to explore how we could give the club 100% of all our real estate proceeds . 117 at 16-17. CGP and Ridgewood's Initial Interactions in Fall 2016, In September 2016, Nanula met Plotnick at an industry conference. 2003). 20 to Ex. X at 67:11-13; see also id. Finally, one place to get all the court documents we need. of Am., Inc., Civil Action No. 100-25, Ex. No. On October 3, 2016, Meyer informed Nanula that the AOS had been terminated and that PCC was considering its options for moving forward. (Id. See Restatement (Second) of Torts 550-51; see also Gnagey, 82 A.3d at 501 ([T]he Colton court explained how and why the doctrine of active concealment' constitutes fraud even if there is no independent legal duty to disclose information, while the concept of mere silence' requires the disclosure of information only if there is a positive statutory, regulatory, or legal duty mandating disclosure. (citing United States v. Colton, 231 F.3d 890 (4th Cir. 100-5, Ex. No. For the foregoing reasons, the Court grants summary judgment to the Concert Defendants on Counts I (fraud), II ( 550), III ( 551), and IV (aiding and abetting) and grants summary judgment to the Ridgewood Defendants on Counts II ( 550), III ( 551), V (aiding and abetting). No. Make your practice more effective and efficient with Casetexts legal research suite. He already knew about you and had been on your website. Click Here to read our Client Testimonials, 1015 15th Street NorthwestSuite 1125Washington, DC 20005, 1605 Main StreetSuite 710Sarasota, FL 34236, 1325 4th AvenueSuite 1730Seattle, WA 98101, Guillain-Barr Syndrome and Vaccine Injury. at 13:1-3; id. No. 125-5, Ex. No. A (agreement between NPT and PCC, stating that the land to be sold is comprised of approximately 61.60 gross acres); id., Ex. Agreed Order is entered by the Court to simplify the discovery process. 53 at 26-29 (discussing gist of the action doctrine) with id. That is not what this Court held. No. See Williams v. Hilton Grp. Id. (ahf) (Entered: 12/31/2018), Summons Issued as to CONCERT GOLF PARTNERS, CONCERT PHILMONT, LLC. 9 to Ex. Updated: Feb 28, 2023 / 05:11 PM EST. fails to disclose . And on November 30, in response to receiving Meyer's email with the contact information of two firms (NPT and NVR), Nanula told Meyer that he would find the right people to get this land transaction done (Doc. Celotex, 477 U.S. at 323. The Class provides the Court with its arguments explaining that there are fact issues that need to go to a jury to decide. 100-35, Ex. 1. No. Concert Golf Partners is a well-capitalized owner-operator of golf properties nationwide. No. As noted above, the 551 claim against the Ridgewood Defendants cannot stand because they were not parties to a business transaction. Section 550 imposes liability when one party to a transaction . UniCourt uses cookies to improve your online experience, for more information please see our Privacy Policy. A: It - it might have. No. Because we find that there is a genuine issue of material fact as to whether the Concert Defendants are parties to a business transaction under 551 or parties to a transaction under 550, the Court denies summary judgment on Counts II and II as to this argument. No. 2:22-CV-00358 | 2022-01-27, U.S. District Courts | Civil Right | (Doc. . Holdings, LLC, Civil Action No. Nanula responded, Yes, but this firm is in advanced talks with club president about buying this 35 acre parcel from the club . 22 to Ex. There is scant case law on what constitutes a party to a transaction under 550 and a business transaction between parties under 551. AUGUSTA, Ga. (WJBF) The agreement to hold concerts at Lake Olmstead Stadium has hit a sour note. WebConcert Golf Partners is a boutique owner-operator of private clubs based in Newport Beach, Calif. Nanula noted that Ridgewood had been talking to [the] Club about buying the 9 holes for $5-6m but they need a credible golf operator to sell the members on this and that he told them to back off completely so I can buy the whole Club and then deal them in as our real estate partner. (Id.) 116 at 17-18.) 100-28, Ex. (Doc. ([W]e are offering [PCC] $5 million 100% guarantee for the 9-holes. Co. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986) (citation omitted). 384, 387 (3d Cir. No. No. (Id. No. (Id. . But it did not. ), 1. . 149-1 at 19, 60, 64; Doc. 149-1 at 169. No. No. Nice guy . Not interested).). Discovery Inc. is suing Paramount Global, saying its competitor aired new episodes of the popular animated comedy series South Park after Section 551(2) outlines the five circumstances that give rise to a duty to disclose. NPT planned to develop the Property and sell the developed lots to NVR to build homes. 8:19-CV-02344 | 2019-09-20, U.S. District Courts | Other | at 36:2-11.). The Concert Defendants argue that the fraud claim should be dismissed because it is barred by the statute of limitations, the gist of the action doctrine, and the economic loss doctrine, among other reasons. 100-29, Ex. NPT has not cited a single case suggesting that an individual or entity can be held to have a duty to disclose and be responsible for clarifying a partial or ambiguous statement that it did not make. No. In addition, NPT argues that there is a duty to disclose because Defendants were the only source of the information. (Id. Meyer wrote about the potential advantages of a transaction with CGP, including that CGP would: (1) pay off all of [PCC's] current debt and obligations (mortgage, line of credit, capital leases and other) which approximates $1,000,000; (2) commit to invest approximately $4,000,000 into the Club immediately over a 12-24 month time frame; (3) commit to fund ongoing capital reserves at 34% of annual revenues, equat[ing] to approximately $1,000,000 over a five year period; (4) commit an additional $5,000,000 towards various agreed upon projects [u]pon closing the real estate deal; (5) freeze dues increases for two to three years and limit annual increases thereafter; (6) eliminate assessments; and (7) guarantee [] maintaining 27 holes of golf after the South Course land [] sold. (Id.) Q: If you had known that Concert and Ridgewood were anticipating millions in extra profit from the deal, would you have thought differently about the deal that Concert was offering to Philmont Country Club? (See Doc. 16 to Ex. 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. . A). Indus. No. Id. Under the agreement, PCC (the Assignor) agreed to assign NPT (the Assignee), NPT initiated this action against Defendants on October 1, 2019. (Doc. . PCC was in a distressed financial situation and decided to sell a portion of its property (the Property) for residential development. PLC, 93 Fed.Appx. Ultimately, only Concert Philmont took title to any property. However, according to Meyer, the improvements were not made in the manner PCC would have liked them to be made; he stated that everything they have done has been, you know, not first rate. (See Doc. ), 3. Nanula stated, My ops team was there on Friday, and we see a path to making this work at least marginally, even if the real estate deal falls apart after much effort. (Id.) 100-5, Ex. 117 F.Supp.3d 673 (E.D. No. He served 4 years of active duty service in the Army as a Judge Advocate with the rank of Captain. We are a boutique owner-operator of upscale private golf & country clubs nationwide. Consequently, the minutes of this meeting proves the board members and legal committee were aware of the Self Serving Business Practices in use when changing redemption bylaws without consent. ), Nanula had previously spoken to Glenn Meyer about a potential deal in 2014. No. InterVest, Inc. v. Bloomberg, L.P., 340 F.3d 144, 159-60 (3d Cir. 149-1 at 60.) 100-5, Ex. 116-14, Ex. Silverman was but one vote. The Court finds that there is no genuine issue of material fact that the Concert Defendants did not have a duty to disclose its relationship with Ridgewood to PCC. 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.).) 100-5, Ex. However, at the end of his email, Nanula wondered, why do we need Ridgewood at all? 124-1 at 9; Doc. 116-14, Ex. 140-1 at 49. 28, 2018) (A party' is defined as someone who takes part in a transaction.' In addition, when Gnagey provided a site characterization report and remedial action plan to the Fund, it failed to describe or depict the eight abandoned tanks, rendering the report inaccurate under the Pennsylvania Department of Environmental Protection's regulations. 124-1 at 44.) The Country Club sold to Concert Golf Partners, a company that owns and operates 19 upscale private clubs. Along with the sale came a plan to recapitalize. No. ), The Property consisted of nine of eighteen holes of the South Course and spanned approximately 50 to 60 acres. 53 at 53 (Under Pennsylvania law, a duty to speak exists only in limited circumstances,' such as (1) when there is a fiduciary, or confidential, relationship between the parties'; (2) where one party is the only source of information to the other party or the problems are not discoverable by other reasonable means; (3) when disclosure is necessary to prevent an ambiguous or partial statement from being misleading'; (4) where subsequently acquired knowledge makes a previous representation false'; or (5) where the undisclosed fact is basic to the transaction. (Doc. The Judges overseeing this case are Anthony E. Porcelli and James S. Moody. Fraudulent Concealment and Fraudulent Nondisclosure Claims, In Counts II and III, NPT, as PCC's assignee, asserts fraudulent concealment and fraudulent nondisclosure claims against all Defendants under Restatement (Second) of Torts 550 and 551, alleging that the Concert and Ridgewood Defendants failed to disclose that they were working together and actively concealed their relationship. Accordingly, the Court grants summary judgment to the Concert Defendants on Count I. A: . at 683; see also Plexicoat Am., LLC, 9 F.Supp.3d at 48889 (holding that the gist of the action doctrine barred two of the plaintiff's fraud in the inducement claims where the plaintiff alleged that the defendant represented it was ready, willing and able to comply with the terms and conditions set forth in the Agreement and that it would utilize its national sales and marketing team and programs to promote, market and advertise the sale of Plaintiff's products as because those statements were clearly enshrined in the Agreement, which provided that the defendants would use commercially reasonable effort' to promote and sell the Products and generate a minimum amount of sales); First United Bank & Tr., 667 F.Supp.2d at 451 (concluding that the gist of the action doctrine barred the fraudulent inducement claims where [i]t [was] clear that the[] representations and duties detailed in the Master Agreement concern[ed] the same facts and circumstances that [the plaintiff] now alleges were misrepresented in order to induce it to enter the Master Agreement and emphasizing that the subject representations made during negotiations foreshadowed contractual duties and subsequently ripened into contractual provisions such that the duties allegedly breached were grounded in the contract itself); CRS Auto Parts, Inc., 645 F.Supp.2d at 380 (finding that the gist of the action doctrine barred the plaintiff's fraud claim in part because [a]ny contractual statements by Turley concerned coverage duties that were later outlined in the written insurance policy). 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