Andrew Nemeth Properties, LLC v. William A Panzica

CourtIndiana Court of Appeals
DecidedApril 17, 2024
Docket23A-PL-01383
StatusPublished

This text of Andrew Nemeth Properties, LLC v. William A Panzica (Andrew Nemeth Properties, LLC v. William A Panzica) is published on Counsel Stack Legal Research, covering Indiana Court of Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Andrew Nemeth Properties, LLC v. William A Panzica, (Ind. Ct. App. 2024).

Opinion

FILED Apr 17 2024, 9:01 am

CLERK Indiana Supreme Court Court of Appeals and Tax Court

IN THE

Court of Appeals of Indiana Andrew Nemeth Properties, LLC, and Andrew J. Nemeth, Appellants-Plaintiffs

v.

William A. Panzica, Thomas C. Panzica, Philip E. Panzica, & NP3, LLC, Appellees-Defendants

April 17, 2024 Court of Appeals Case No. 23A-PL-1383 Appeal from the Marshall Circuit Court The Honorable Curtis D. Palmer, Judge Trial Court Cause No. 50C01-2202-PL-2

Opinion by Judge Weissmann Chief Judge Altice and Judge Kenworthy concur.

Court of Appeals of Indiana | Opinion 23A-PL-1383 | April 17, 2024 Page 1 of 20 Weissmann, Judge.

[1] Andrew Nemeth and three brothers—William, Thomas, and Phillip Panzica

(the Panzica Brothers)—allegedly agreed to form a limited liability company

(LLC) for the purpose of developing and leasing out a piece of commercial real

estate. Nemeth filed articles of organization for the company, dubbed NP3,

LLC after himself and the three Panzica Brothers. But nearly six months later,

the Panzica Brothers seemingly sought to exclude Nemeth from the project by

executing a backdated operating agreement for NP3 that listed the Panzica

Brothers’ separately owned company, Panzica Investments, LLC, as NP3’s sole

member. Nemeth therefore sued NP3 and the Panzica Brothers (collectively,

Defendants) for breach of oral contract and unjust enrichment.

[2] The trial court entered summary judgment in favor of Defendants on Nemeth’s

breach of contract claim, essentially concluding a written operating agreement

is required to establish LLC membership. Nemeth’s unjust enrichment claim

was then tried to the bench, despite his request for a jury trial, and the court

entered judgment in Defendants’ favor. On appeal, Nemeth argues that an

LLC’s initial membership can be established by oral contract and that there

exist genuine issues of material fact as to whether Nemeth and the Panzica

Brothers orally agreed to form NP3 as equal members. Nemeth also argues that

he was entitled to a jury trial on his unjust enrichment claim. We agree on all

counts and therefore reverse.

Court of Appeals of Indiana | Opinion 23A-PL-1383 | April 17, 2024 Page 2 of 20 Facts [3] Nemeth is a real estate consultant, broker, and developer in South Bend,

Indiana.1 The Panzica Brothers are principals in a South Bend architecture and

construction corporation. They are also the sole members of Panzica

Investments, LLC, a South Bend real estate holding company. Between 2012

and 2016, Nemeth and the Panzica Brothers were involved in a real estate

development project initiated by NELLO Corporation, a fabricator of steel

cellphone towers and utility poles. That project lies at the heart of this litigation.

[4] In 2012, Nemeth began working with NELLO to relocate its manufacturing

operations to South Bend (the Nello Project). Among other things, Nemeth

helped NELLO obtain approximately $13 million in economic incentives for

the project. He also agreed to purchase a piece of South Bend real estate on

which NELLO could construct a new manufacturing facility. NELLO initially

planned to finance the construction portion of the project and to purchase the

developed land from Nemeth upon the facility’s completion. But in July 2014,

after Nemeth had entered into a purchase agreement for the land, NELLO

asked Nemeth if he would finance the construction, own the facility, and lease

it to NELLO instead.

1 Nemeth is also the sole member of Andrew Nemeth Properties, LLC, through which he provides his real estate services. Though Nemeth and his company are both plaintiffs/appellants in this lawsuit, we refer only to Nemeth for simplicity.

Court of Appeals of Indiana | Opinion 23A-PL-1383 | April 17, 2024 Page 3 of 20 [5] Nemeth was amenable to the leasing arrangement and soon invited the Panzica

Brothers to partner with him on the Nello project. According to Nemeth, he

and the Panzica Brothers orally agreed to form and be equal members of a new

LLC, which would build, own, and lease to NELLO the manufacturing facility.

The four members’ capital contributions to the new LLC would be their

respective services on the Nello Project, and they would “split” everything

“equally,” including distributions. App. Vol. IV, pp. 153-54, 180.2

[6] In August 2014, Nemeth emailed the Panzica Brothers a proposed name for the

new company, “NP3, LLC,” derived from the names “Nemeth” and “Panzica”

(there being three of the latter). Id. at 180. A month later, Nemeth officially

formed NP3, LLC by filing articles of organization with the Indiana Secretary

of State. These articles did not identify NP3’s membership but indicated that

the company would be managed by its “Members.” App. Vol. III, p. 25.

[7] In October 2014, NELLO entered into a 15-year lease with NP3 for the

forthcoming manufacturing facility. William Panzica signed the lease on NP3’s

behalf, and his signature block identified him as a “Member” of the company.

Id. at 185. The lease also contained a Real Estate Broker’s Disclosure, which

provided: “It is hereby disclosed and accepted that Landlord [NP3] includes

among its members licensed Indiana Real Estate Brokers including Thomas C.

Panzica, William A. Panzica[,] and Andrew J. Nemeth.” Id. at 184.

2 All citations to the Appendix in this opinion refer to Appellants’ Appendix.

Court of Appeals of Indiana | Opinion 23A-PL-1383 | April 17, 2024 Page 4 of 20 [8] To expedite financing for the Nello Project, Nemeth and the Panzica Brothers

decided that Panzica Investments would purchase the land for which Nemeth

already had a purchase agreement and then transfer the land to NP3. In an

October 2014 email to a title company representative involved in the land

purchase, William Panzica advised that “NP3, LLC (Nemeth and the 3

Panzica Brothers)” would ultimately be buying the land. App. Vol. IV, p. 226.

[9] In November 2014, Nemeth assigned his purchase agreement for the land to

Panzica Investments. But according to Defendants, Nemeth had for months

concealed the fact that the purchase agreement entitled him to a $256,000

broker’s fee. When the Panzica Brothers allegedly learned about the fee in

December 2014, they believed it was too late to withdraw from the Nello

Project without subjecting themselves to certain liabilities. Therefore, Panzica

Investments proceeded to close on the land two weeks later and eventually

transferred the land to NP3, as intended.

[10] At some point, the Panzica Brothers decided to proceed with the Nello Project

without Nemeth. And on or after February 20, 2015, William Panzica prepared

a written operating agreement for NP3 that identified Panzica Investments as

NP3’s sole “initial member.” Id. at 133. The agreement was backdated to

January 1, 2015, and it listed a retroactive effective date of September 12,

2014—the day NP3 was organized. William executed the agreement on behalf

of Panzica Investments, and all three Panzica Brothers signed it as NP3’s

managers.

Court of Appeals of Indiana | Opinion 23A-PL-1383 | April 17, 2024 Page 5 of 20 [11] Fast forward to 2020. Nemeth filed a complaint against Defendants, seeking a

declaratory judgment that he was a member of NP3 and asserting claims for

breach of oral contract and unjust enrichment, among other things.3 Defendants

moved for summary judgment on Nemeth’s declaratory judgment and breach

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Andrew Nemeth Properties, LLC v. William A Panzica, Counsel Stack Legal Research, https://law.counselstack.com/opinion/andrew-nemeth-properties-llc-v-william-a-panzica-indctapp-2024.