Accelerated v. LMI II

CourtCourt of Appeals for the Tenth Circuit
DecidedMarch 28, 2024
Docket23-6062
StatusUnpublished

This text of Accelerated v. LMI II (Accelerated v. LMI II) is published on Counsel Stack Legal Research, covering Court of Appeals for the Tenth Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Accelerated v. LMI II, (10th Cir. 2024).

Opinion

Appellate Case: 23-6062 Document: 010111023376 Date Filed: 03/28/2024 Page: 1 FILED United States Court of Appeals UNITED STATES COURT OF APPEALS Tenth Circuit

FOR THE TENTH CIRCUIT March 28, 2024 _________________________________ Christopher M. Wolpert Clerk of Court ACCELERATED, LLC,

Plaintiff - Appellant,

v. Nos. 23-6062 & 23-6086 (D.C. No. 5:22-CV-00258-HE) LMI II, LLC, (W.D. Okla.)

Defendant - Appellee. _________________________________

ORDER AND JUDGMENT* _________________________________

Before TYMKOVICH, PHILLIPS, and ROSSMAN, Circuit Judges. _________________________________

Accelerated, LLC agreed to buy an aircraft from LMI II, LLC. But a pre-sale

inspection indicated the aircraft’s engines were damaged beyond the manufacturer’s

standards for operation. Although the parties agreed that LMI would initiate an

insurance claim for engine damage, and LMI did so, Accelerated hesitated to close

the sale. On the day of closing, LMI agreed to initiate another claim under a policy

provision allowing reimbursement for temporary engines while the permanent

* After examining the briefs and appellate record, this panel has determined unanimously to honor the parties’ request for a decision on the briefs without oral argument. See Fed. R. App. P. 34(f); 10th Cir. R. 34.1(G). The case is therefore submitted without oral argument. This order and judgment is not binding precedent, except under the doctrines of law of the case, res judicata, and collateral estoppel. It may be cited, however, for its persuasive value consistent with Fed. R. App. P. 32.1 and 10th Cir. R. 32.1. Appellate Case: 23-6062 Document: 010111023376 Date Filed: 03/28/2024 Page: 2

engines were being repaired. After the sale, however, the manufacturer issued

Technical Variances (TVs) allowing the aircraft to be operated without repairing the

engines. Accelerated did not have the engines repaired and did not incur costs for

temporary engines. As a result, LMI declined to tender to Accelerated the proceeds

from the temporary-engines insurance claim.

Accelerated sued, and both sides moved for summary judgment. The district

court granted summary judgment to LMI and then awarded LMI its attorney’s fees.

Accelerated now appeals from both the decision on the competing motions for

summary judgment (No. 23-6062) and the award of fees (No. 23-6086). Exercising

jurisdiction under 28 U.S.C. § 1291, we affirm in both appeals.

BACKGROUND

On October 14, 2021, Accelerated and LMI entered into an Aircraft Purchase

and Sale Agreement (the Agreement). The Agreement provided Accelerated the right

to conduct a complete pre-purchase inspection of the aircraft. Accelerated arranged

for West Star Aviation to conduct an inspection.

On October 25, Accelerated’s broker e-mailed LMI’s counsel. He noted the

inspection, still in its early stages, had identified several areas of concern. On

October 29, the parties executed an addendum to the Agreement (the First

Addendum), in which Accelerated waived a complete pre-purchase inspection in

exchange for a reduction in the purchase price. The First Addendum stated West Star

would inspect the engines for foreign object damage (FOD), and LMI would be

“responsible to initiate an insurance claim . . . for any airworthiness discrepancies

2 Appellate Case: 23-6062 Document: 010111023376 Date Filed: 03/28/2024 Page: 3

related to foreign object damage . . . discovered as part of such limited inspection.”

Aplt. App. Vol. II at 76. LMI was insured under a business aircraft policy (the

Policy) issued by AIG Aerospace Insurance Services, Inc. (AIG).

On November 2, Accelerated’s counsel e-mailed LMI’s counsel that

Accelerated “need[ed] to put this . . . deal on hold until we can determine the extent

of the foreign object damage to both engines [and] what the repairs would look like.

Then we will need to confirm insurance coverage before we can proceed to closing.”

Id. at 131. Later that day, Accelerated’s counsel e-mailed that it would only be

willing to move forward with closing if it could “get: (i) a report on the extent of the

damage, (ii) [engine manufacturer] Rolls Royce to weigh in on the necessary repairs

and (iii) AIG to confirm that the necessary repairs are covered.” Id. at 130.

On November 3, West Star indicated that some of the engine damage exceeded

specifications established by Rolls-Royce. LMI e-mailed Accelerated that it had

initiated an insurance claim and proposed November 12 as a firm closing date.

Accelerated was loath to proceed with the sale, replying to LMI on November 4 that

it was “time to pull the plug on this deal.” Id. Vol. I at 166. On November 5, LMI

sent a letter to Accelerated, reiterating it had initiated an insurance claim for FOD to

the engines as agreed and stating Accelerated would be in default if it did not close

the deal within five days.

In the meantime, West Star had been in communication with Rolls-Royce. On

November 4, Rolls-Royce confirmed to West Star that some of the damage was

considered not acceptable, although it might be possible to issue TVs. On the same

3 Appellate Case: 23-6062 Document: 010111023376 Date Filed: 03/28/2024 Page: 4

day LMI sent its default letter to Accelerated, November 5, Rolls-Royce e-mailed

West Star that “we are chasing our specialists continuously to accept the findings

which exceed the . . . limits via TV. This is not completely confirmed yet but this is

what we want to achieve.” Id. at 199. That same day, West Star confirmed to

Rolls-Royce that it had submitted TV requests for the engines.

On November 8, AIG confirmed the Policy covered LMI’s engine claim, and

Accelerated e-mailed LMI that it was ready to move forward with the closing. The

next day, however, the parties continued to negotiate. Beyond the engine claim that

LMI already had initiated, AIG proposed a settlement under Coverage R of the

Policy, entitled “Temporary Replacement Parts Rental Expense.”

Coverage R provided up to $500,000 in coverage for “the cost of renting or

leasing, installing, removing and transporting temporary replacement component

part(s) that are necessary due to Physical Damage loss to which this policy applies.”

Id. Vol. II at 105. Coverage R provided it “applie[d] only if you have made

reasonable attempts to rent or lease component parts to replace the parts that are

damaged” and “[t]he time required to repair the [aircraft] exceeds the Minimum

Required Repair Period shown under this Coverage in the Declarations,” which was

five days. Id. During the negotiations, Accelerated’s broker e-mailed cost

projections to AIG indicating that the costs of rental engines would greatly exceed

the $500,000 policy limit, and the time for repairs would last an estimated 70 days.

The broker e-mailed both parties’ counsel on November 9 that he had spoken to

AIG’s adjuster and “confirmed . . . that they don’t care and they will make the

4 Appellate Case: 23-6062 Document: 010111023376 Date Filed: 03/28/2024 Page: 5

statement to us tomorrow how the monies get spent or what is done with it, it does

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Accelerated v. LMI II, Counsel Stack Legal Research, https://law.counselstack.com/opinion/accelerated-v-lmi-ii-ca10-2024.