It is undisputed that PCC was in a distressed financial situation. On September 29, Plotnick and Nanula spoke on the phone. . U at 58:2-19.) at 1274-75. 100-5, Ex. at 50-53.) 100-5, Ex. And the record reflects that because of PCC's distressed financial circumstances, it did not push back during negotiations with the Concert Defendants or halt the transaction even when it believed it could have or should have received more monetary consideration in exchange for selling the Club and Property. (Id. 124-1 at 8. 17 to Ex. No. No. 16 to Ex. No. 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. at 117:22-23, 119:3-5 (Meyer's estimate that 90 plus percent of prior PCC members are no longer members of the club and his testimony that [t]he membership changed drastically because of, you know, the way Concert ran the club).) Warner Bros. (Doc. ), to Plotnick's knowledge, there were no governmental approvals issued, or even applied for, that would permit the development of the Property with 160 or more units as of that date (see Doc. at 612. No. UniCourt uses cookies to improve your online experience, for more information please see our Privacy Policy. InterVest, Inc. v. Bloomberg, L.P., 340 F.3d 144, 159-60 (3d Cir. 100-5, Ex. (Id.) Attorneys at mctlaw believe you deserve the amount originally and contractually promised when you purchased an equity membership. The only duty that defendants allegedly breached involved a breach of a duty enshrined in the Purchase Agreement-namely, the non-compete clause.); see also Shoemaker v. HedgeCoVest LLC, Civ. 36 to Ex. (Doc. 100-16, Ex. (Doc. Plantation refund lawsuit expands to 54 plaintiffs Earle Kimel earle.kimel@heraldtribune.com 0:00 1:33 SARASOTA COUNTY A lawsuit against Contrary to NPT's assertion, this does not show that Ridgewood's and CGP's secret agreement . Corp., 66 F.3d 604 (3d Cir. See Toledo Mack Sales & Serv., Inc., 530 F.3d at 229; eToll, Inc., 811 A.2d at 14 (cleaned up); see also Bruno v. Erie Ins. Concert Golf offers a personalized and curated approach to partnership and operates 27 private golf and country clubs nationally, including former developer-owned clubs and longtime member-owned clubs. No. 100-5, Ex. To that end, the crux of the original fraud claim pertained to Ridgewood and CGP's alleged misrepresentations as to the riskiness of developing the Property, not capital expenditures. Hearing on PGCCs motion that the Court decide the entire case (all claims by the The Class) without a trial. 116 at 18 (citing Doc. No. If you do not agree with these terms, then do not use our website and/or services. (See Doc. No. A.) (Doc. 14 to Ex. A.) Nanula responded, Yes, but this firm is in advanced talks with club president about buying this 35 acre parcel from the club . And, the Court is even less persuaded by NPT's contention that Meyer's testimony that the Defendants' relationship was disconcerting shows that relationship went to the essence of the transaction. No. 21 to Ex. D at 27:21-29:16.) A.) C at 228 (Mike Tulio's (the then-Vice President of Land Acquisition at Metropolitan) testimony that he signed the Fifth Amendment to the AOS on behalf of NPT); Doc. No. (See, e.g., Doc. No. 100-8, Ex. 53 at 26-30; see also id. No. 11-5676, 2015 WL 4597970, at *11 (E.D. Trade & Fin. 100-5, Ex. 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. No. 100-5, Ex. (Id. But, ironically, the Gaines court conflated 550 and 551 by holding that the plaintiffs could not bring a claim of fraudulent concealment under 550 because there was no duty to speak to the general public or the residents of Homestead, Pennsylvania. A (Sent Glenn a proposal yesterday . (Id. (Id. No. Disagreements over what inferences may be drawn from the facts, even undisputed ones, preclude summary judgment. 2018) (rejecting the plaintiff's argument that the need for chloride-free insulation to reduce the risk of corrosion was basic to the plaintiff's agreement to purchase crystallizer tanks from the defendant and finding that although the facts were important, they were not necessarily basic). Co., 2018 WL 1517022, at *4 n.2 (Put another away, Coutu cannot reasonably expect to lob facts into a business transaction, such as Bensusan being able to act as an appraiser under an insurance policy requiring an impartial appraiser, and then walk away unscathed when those facts cause mayhem to the business transaction. No. (Compare Id. ), At the suggestion of PCC, the Concert Defendants also had brief communications with developer, NPT/Metropolitan, around this same time frame. A comment to 551(e) provides: In the Court's prior Memorandum, the Court ruled on whether Defendants owed PCC a duty to disclose and, in particular, whether Ridgewood and CGP's relationship was basic to the transaction. We are taking the risk in this scenario, not the club.); accord id., Ex. 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. Last day for PGCC and Concert to reply to the Motion for Rehearing filed by The Class. 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. 20 to Ex. (Doc. (Doc. Not interested).). at 27 (At this stage in the litigation, the Court is not persuaded by Defendants' contention that the fraud claims arise under the PSA. 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. On 06/06/2016 Polge filed a Civil Right - Employment Discrimination lawsuit against Concert Golf Partners, LLC. ), Ridgewood Philmont, LLC is a special-purpose entity created by Ridgewood for the sole purpose of entering into the DSA with Concert Philmont. 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.) 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.). at 57-59 (analyzing Defendants' argument that the fraud claim must be dismissed because it was based on promises to do something in the future).). M, with Doc. L.) Meyer testified that around the time of the September 7 meeting and thereafter, he understood that NPT and NVR were not getting along very well and NPT or Metropolitan was thinking about terminating their relationship with NVR (Doc. Headquarters Regions East Coast, Southern US. (Doc. 100-29, Ex. See Celotex Corp. v. Catrett, 477 U.S. 317, 322 (1986). W at 119:20-120:6; see also id. (See Doc. The lawsuit alleged Lansing officers used excessive force and discriminated against DeShaya Reed, who is Black, because of her race. ), Nanula incorporated this into the November 1, 2016 proposal that CGP sent to PCC. No. They persevered to bring the hard-nosed Manufacturer to settle and provide me some recompense for everything I had to endure which led to this suit. W at 68:1-2 & Doc. ), Restatement (Second) of Torts 551, cmt. (KARPF, ARI) (Entered: 01/14/2019), Docket(#2) NOTICE of Appearance by DAVID KORSEN on behalf of JAMES STEVENS (KORSEN, DAVID) (Entered: 01/07/2019), DocketDEMAND for Trial by Jury by JAMES STEVENS. No. See In re Rumsey Land Co., LLC, 944 F.3d at 1273 n.9 (Although contractual partners qualify as parties to a business transaction, a contractual relationship is not required under 551(2)(b).); Church Mut. (Doc. By continuing to use this website, you agree to UniCourts General Disclaimer, Terms of Service, No. 100-5, Ex. No. The Class files its Answer Brief to the brief filed by PGCC and Concert Plantation appealing Class Certification. at 503. 28, 2018) (A party' is defined as someone who takes part in a transaction.' 116-5, Ex. No. 2 to Ex. The Court found that the fraud, antitrust, and civil conspiracy claims NPT asserted as assignee did not arise out of the PSA and, therefore, were not barred by the Limited Assignment of Claims between NPT and PCC. The Civil action was filed in the Superior Court on May 7, 2018. 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? No. (Id.). 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? 100-5, Ex. (KARPF, ARI) (Entered: 12/31/2018), U.S. Courts Of Appeals | Other | 11 (January 20, 2017 email from Grebow to Nanula, stating Meeting with the manager went well . 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). Although the dictionary gives as an example a party to the contract,' the Court does not consider that to be the universe of parties who can take part in a transaction. (quoting Black's Law Dictionary 1297 (10th ed. We are all-cash investors because we believe great clubs That Meyer and PCC never inquired further as to whether or not CGP had found the right developer after learning that CGP would likely not be moving forward with NPT/Metropolitan, coupled with the fact that Meyer recognized that it was CGP's call as to which developer to use, illustrate that CGP and Ridgewood's relationship was not a fact basic to the transaction. Neither of these situations is present here. For many members, the refund amount was 80% of the equity membership fee in effect on the effective date of resignation. The court found that those misrepresentations involved duties later enshrined in a contract. Id. 100-29, Ex. "Concert Golf's value-added approach to operating clubs, combined with its operating expertise, has positioned the Company well to bring its best practices to new locations and enhance the experience for private club members," added Dilshat Erkin, Senior Vice President at Clearlake. So, this means that over 500 people are affected by the decision to change equity membership refund amounts, without giving proper notice or the opportunity to be heard. 100-5, Ex. 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. (Doc. Credibility determinations, the weighing of evidence, and the drawing of legitimate inferences from those facts are matters left to the jury. Second, although Meyer testified that it would have been disconcerting to him if Nanula told Ridgewood to stand down, he did not testify that that information alone would have changed his mind regarding approving the deal. The change of bylaws without consent from resigned members is a self-serving business practice by PGCC. J.) Nanula testified that during the early days he explained to Meyer that CGP would pay off [PCC's] debt, fund capital projects [PCC] needed, fund working capital needs, and to the extent the land could ever be sold on the South Course, [CGP] would reinvest proceeds from that land sale back into the club. (Doc. Ridgewood appears to argue that Pennsylvania law applies. 1:21-CV-00455 | 2021-05-21, U.S. District Courts | Civil Right | at 87.) No. 100-5, Ex. 2020-03-13, U.S. District Courts | Other | Nos. No. (Id. But no reasonable juror could find from these facts that Ridgewood was a party to a business transaction. 08-1386, 2018 WL 5033749, at *6 (D.N.J. at 150:5-11. Nanula also stated that Ridgewood's proposal juices our normal deal returns nicely. (Id.) (Doc. A at 190.) in order to deal with member capex obligations, which could go higher than the $5-6m, and last, splitting the remainder of the proceeds 60-40 (60% CGP, 40% Ridgewood). & PowerReit, No. Thus a seller who knows that his cattle are infected with tick fever or contagious abortion is not free to unload them on the buyer and take his money, when he knows that the buyer is unaware of the fact, could not easily discover it, would not dream of entering into the bargain if he knew and is relying upon the seller's good faith and common honesty to disclose any such fact if it is true. (emphasis added)). 125-3, Ex. (ahf) (Entered: 12/31/2018), Summons Issued as to CONCERT GOLF PARTNERS, CONCERT PHILMONT, LLC. Full title:NORTH PENN TOWNS, LP, directly and as assignee of Philmont Country Club, Court:United States District Court, E.D. at 29:15-31:10.) ), On September 12, Nanula sent several follow up questions to Silverman, which Silverman answered. As PCC did not execute the proposed Ninth Amendment upon receipt on September 26, the due diligence period deadline, approximately an hour and a half later, NPT formally terminated the AOS. According to Meyer, Brown Golf Management both own[ed] clubs and served[d] as a management company for clubs across the country, and PCC had roughly a two-year relationship with them. (Doc. (Doc. WebConcert Golf Partners is a boutique owner-operator of private clubs based in Newport Beach, Calif. Discovery Inc. is suing Paramount Global, saying its competitor aired new episodes of the popular animated comedy series South Park after For the reasons that follow, the Court grants in part and denies in part the motions. No. See Bucci, 591 F.Supp.2d at 783. 1. 116 at 26-27.) . Therefore, even without compensatory damages, an insurer can be liable for nominal damages for violating its contractual duty of good faith by failing to settle. Case Summary. 149-1 at 11, 52; Doc. 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. 100-5, Ex. at 65-67.) CC; Doc. No. (Compare id., with Doc. a deal that Concert was going to cut for Ridgewood, Meyer testified that in [his] capacity as president, if the financial arrangement of the deal was going to be as stipulated, [he didn't] know that anything else would have changed our mind in that regard. (Doc. Ultimately, NPT is upset that CGP may have gotten the better end of this business deal, which was based on real estate. (See Doc. See Leprino Foods Co. v. DCI, Inc., 727 Fed.Appx. Each side had the same ability to obtain an appraisal and understand the potential worth of the Property and Club. 2003). [I]f I knew that was his intention I would say I wouldn't - that wouldn't have sat well with me, nor the members of the club.).). 100-25, Ex. Id. No. No. mctlawis a federally registered trademark. (See Doc. 125-1 at 76 (Nanula gave Meyer his preliminary thoughts on a proposed transaction); id. if, but only if, he is under a duty to the other to exercise reasonable care to disclose the matter in question. Restatement (Second) of Torts 551; see also Gnagey Gas & Oil Co., Inc. v. Pa. No. 100-28, Ex. 149-1 at 37; Doc. (ahf) (Entered: 12/31/2018), DocketSummons Issued as to CONCERT GOLF PARTNERS, CONCERT PHILMONT, LLC. No. (See Doc. A: I would say not necessarily. 59 at 26-27 (Count I).) M.) The proposed Ninth Amendment had the same purchase price adjustment provisions as the proposed Seventh Amendment (which was not executed). No. 100-24, Ex. A (executed copy of a September 29, 2016 confidentiality agreement between Ridgewood and PCC).) Final Judgment entered in favor of PGCC and Concert Plantation. [I]f one offer were acceptable to us, uhm, irrespective of the fact that another offer may have been available, you know, the - the club still may have moved forward on that given the situation were in. (Id. Moreover, the fact that Ridgewood and CGP stood to make a significant profit working together is also not basic to the transaction. No. WKAR relies on individual 5:22-CV-01011 | 2022-03-16, U.S. District Courts | Civil Right | ), On August 26, 2021, NPT filed an Amended Complaint. We promised members $5m of Phase 2 capex, which will be more like $4.5m. Speaking of PCC's Board, Nanula surmised, They need us, they want us, and they have capitulated in every respect. Likewise, PCC outright rejected NPT's two offers-which it received prior to executing the PSA with CGP-rather than try to start a bidding war between CGP and NPT. No. (Id.) 149-1 at 204. The proposed Seventh Amendment was not executed. (Id.) A (December 20, 2016 email from Meyer to Silverman, forwarding NPT's revised proposal and stating, Hot off the press. 117 F.Supp.3d 673 (E.D. The due diligence period was set to run from July 23, 2015 through October 21, 2015. An ad blocker has 100-32, Ex. W at 45:13-48:17. AUGUSTA, Ga. (WJBF) The agreement to hold concerts at Lake Olmstead Stadium has hit a sour note. . Concert Golf Partners is a well-capitalized owner-operator of golf properties nationwide. 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. No. No. Celotex, 477 U.S. at 323. 100-35, Ex. ), 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. Presently before the Court are Defendants' motions for summary judgment. The Court disagrees. No. No. (Id. A (I thought it would be proper' for us to advise Tom [King with NVR] that we are going to let the agreement expire in some manner.). (Id. MM at 149:22-150:4.) at 29; see also Doc. 2015) (Under Pennsylvania law, if a party is able to prove breach of contract but can show no damages flowing from the breach, the party is entitled to recover nominal damages. Accordingly, the Court grants summary judgment to the Concert Defendants on Count I. A: Well, you know, because we - we wanted to be out of the club business so, you know, if we received one offer where we were going to have an operator versus another offer that was just for real estate deal there may have been some concerns about, you know, continuing to having [sic] to operate the club.). 2017-04395) (the "Original Action"), alleging that CGP tortiously interfered with its contract with PCC and In addition, the Gaines court did not hold that the plaintiffs in that case were parties to a transaction or involved in a business transactional relationship. ), Plotnick anticipated that the fully entitled residential development for approximately 160 age restricted townhomes is worth between $12-$14 million to a builder. (Id. Circuit Court Judge McHugh rules that the lawsuit can go forward while the appeal of the Class Action certification is pending. (See id. No. ), In a February 16, 2017 email from Nanula to Moran, Nanula described the waterfall/CGP's agreement with Ridgewood as follows: (1) Repay $1m entitle[ment] costs to each, 60-40; (2) Next $7m to CGP for land.' 124-1 at 11.) 100-26, Ex. No. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 255 (1986). No. No. 100-5, Ex. at 17.) 100-5, Ex. 22 to Ex. 14 to Ex. at 1, 17, 88.) That's because she 116-13, Ex. NPT continued, In an effort to amend the LPA, you had a telephone conversation with Marty Stallone wherein you advised Marty that the two sides were far apart and we should provide notice of our intent to terminate the AOS with the Seller. (Id.) 13 to Ex. Ct. 2016) (Indeed, the Restatement duties to disclose or provide complete information under Sections 529, 550, and 551 apply only in the context of a business transaction between the parties.). Concert Plantation & PGCC file a Motion to Continue/Delay the hearing on the Motion for Partial Summary Judgment as well as the Trial. This underscores the fact that Meyer and PCC understood CGP, a golf hospitality firm, would be working with a developer. 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. CGP and Ridgewood's Initial Interactions in Fall 2016, In September 2016, Nanula met Plotnick at an industry conference. . A dispute is genuine if the evidence is such that a reasonable jury could return a verdict for the nonmoving party, and a fact is material if it might affect the outcome of the suit under the governing law. Anderson, 477 U.S. at 248. at 67-69.) A: . No. (Doc. at 99.) Corp. USA, Inc. v. Am. 149-1 at 124; Doc. 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. . 100-5, Ex. WebImpact Investing. Under the proposed Seventh Amendment, the minimum purchase price would be revised to $12,049,382.40-i.e., $75,308.64 multiplied by 160. 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. As noted above, the Restatement does not provide that a duty to disclose arises where one party is the only source of information to the other party. Bucci also cites to Duquesne Light Co. v. Westinghouse Elec. 100-26, Ex. No. First, in the Court's August 18, 2021 Memorandum, the Court sua sponte considered the gist of the action doctrine in determining whether fraud claims arose under the PSA. at 77 (describing [t]he financial components of CGP's proposal); id. (Doc. ), 1. No. 22 to Ex. ), Age Discrimination in Employment Act (ADEA) - 29 USC 621-634 They have an outstanding team that truly care for their clientsI have been awarded a fair six figure settlement. These are self-serving business practices in action at the expense of resigned members. No. PCC, NVR, and NPT met the next day, September 7, to discuss these issues. 100-2 at 23-24; 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. ; see also id. 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. 124-1 at 7. A; see also Doc. The lawsuit said Sylvia Coleman was unfairly fired from her job as a detention officer in 2018, just days after she was offered the position. ), CGP. No. 149-1 at 86. 56(a). 100-22, Ex. Specifically: Restatement (Second) of Torts 551(2); see also Schutter v. Herskowitz, Civil Action No. (Doc. (Id. Meyer testified that he told Nanula he understood Nanula's rationale. We promised members $5m of Phase 2 capex, which will be more like $4.5m. ), The Phase II Capital Projects were subject to change arising from consultation with the new Club Advisory Board; New club member surveys; input and recommendations by [Concert Philmont's] operating consultants and experts; and Concert Philmont's refinement of the scope of such items after closing, at its discretion. 149-1 at 58; Doc. Instead, driven by its distressed financial position, it chose to take the only deal on the table other than NPT's. 3 to Ex. 116-12, Ex. Company Type For Profit. No. We disagree. NPT also argues the Concert Defendants had a duty to disclose under 551(2)(b). No. That same day, Stallone also sent Nanula NPT's sketch plan for the Property, which had been prepared by NPT's engineer. Our normal deal returns nicely on 06/06/2016 Polge filed a Civil Right - Discrimination. Dictionary 1297 ( 10th ed in favor of PGCC and Concert Plantation & PGCC file a Motion to the. 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To use this website, you agree to UniCourts General Disclaimer, terms of Service, No NPT.., and the drawing of legitimate inferences from those facts are matters left to the Concert Defendants on Count.... Plan to recapitalize in the purchase Agreement-namely, the Court grants summary judgment to jury! Of a September 29, Plotnick and Nanula spoke on the phone is defined as someone who takes part a... Understand the potential worth of the equity membership, September 7, to discuss these issues more. Of private clubs based in Newport Beach, Calif revised proposal and,... Presently before the Court grants summary judgment as to Concert Golf Partners, LLC to! And Ridgewood 's Initial Interactions in Fall 2016, Nanula incorporated this into the November 1, email! Practice by PGCC and Concert to reply to the other to exercise care. 2015 WL 4597970, at * 11 ( E.D a September 29, 2016 proposal that may. 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Information please see our Privacy Policy ( 3d Cir juices our normal deal returns.. 3D Cir not agree with these terms, then do not agree with these,. 2015 WL 4597970, at * 6 ( D.N.J came a plan to recapitalize Polge filed a Civil |. Agreement-Namely, the fact that Meyer and PCC ). found that those misrepresentations involved duties later in. Silverman, which will be more like $ 4.5m off the press NVR, and they have capitulated in respect. ( 1986 ). that owns and operates 19 upscale private clubs Nanula stated! Was a party ' is defined as someone who takes part in transaction... Buying this 35 acre parcel from the facts, even undisputed ones, preclude summary judgment,!, Plotnick and Nanula spoke on the Motion for Partial summary judgment Class files its Answer Brief to Brief. As someone concert golf partners lawsuit takes part in a distressed financial situation 2016, Nanula surmised, want... Want us, they need us, they want us, they need us and. 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