Banner Bank v. Real Estate Investor Education

CourtDistrict Court, D. Utah
DecidedFebruary 12, 2025
Docket2:12-cv-00763
StatusUnknown

This text of Banner Bank v. Real Estate Investor Education (Banner Bank v. Real Estate Investor Education) is published on Counsel Stack Legal Research, covering District Court, D. Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Banner Bank v. Real Estate Investor Education, (D. Utah 2025).

Opinion

IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF UTAH

BANNER BANK, successor by merger of AmericanWest Bank which formerly did MEMORANDUM DECISION AND business in Utah as Far West Bank, ORDER ON REMAND FROM TENTH CIRCUIT COURT OF APPEALS Plaintiff,

vs . REAL ESTATE INVESTOR EDUCATION, LLC, a Nevada limited Case No. 2:12-cv-763 liability company; REAL ESTATE INVESTOR SUPPORT, LLC, a dissolved Nevada limited liability company; JAMES Judge Clark Waddoups M. SMITH, a Utah resident, JMS MARKETING L.L.C., a Utah limited liability company; LOREE C. SMITH, an individual and JOHN DOES 1-10,

Defendants.

JAMES M. SMITH

Counterclaim Plaintiff, vs.

BANNER BANK,

Counterclaim Defendant.

LOREE C. SMITH,

Counterclaim Defendant. This case is before the court on remand from United States Court of Appeals for the Tenth Circuit.1 The Tenth Circuit reversed this court’s award of attorney fees to Counterclaimant Loree Smith (“Loree”) under Utah’s bad faith statute, Utah Code § 78B-5-825(1), finding that the basis of the award was improper under the Erie doctrine because the Utah statute is a

procedural attorney fee statute that cannot be used to recover fees when a federal court sits in diversity.2 The Tenth Circuit therefore reversed and remanded the case for the court to consider whether attorney fees were appropriate under other theories that Loree had raised prior to this court’s decision.3 Following the Tenth Circuit’s reversal and remand, this court held a hearing to explore the parties’ views on how to proceed in light of the Tenth Circuit’s remand.4 At the conclusion of the hearing, the court requested that the parties file supplemental memoranda.5 After the parties filed their supplemental briefs, and the court held oral argument on the issue of awarding attorney fees to Loree.6 Now, having carefully considered the parties’ memoranda, oral arguments, this court’s

previous decisions in this case, and the Tenth Circuit’s Opinion, the court enters the following Memorandum Decision and Order Awarding Attorney Fees. I. BACKGROUND Prior to the appeal to the Tenth Circuit, this court concluded that Plaintiff Banner Bank

1 Tenth Circuit Opinion, ECF No. 316. The opinion is also found at Banner Bank v. Smith, 30 F.4th 1232 (10th Cir. 2022), but the court will hereafter cite to the docket in this case. 2 Tenth Circuit Opinion, ECF No. 316 at 10 (referring to Erie R.R. Co. v. Tompkins, 304 U.S. 64 (1938)). 3 Id. at 16. 4 Minute Entry, ECF No. 321. 5 Docket Text Order for Additional Briefing, ECF No. 321. 6 Minute Entry, ECF No. 329. breached the terms of the Consent, Waiver and Release Agreement (“Release Agreement”) and found that “Banner Bank (1) initiated and continued to pursue this action against Loree in bad faith, as doing so was a blatant breach of the express language of the Release [Agreement]; and (2) prosecuted this matter in bad faith by improperly concealing the alterations that it made, or directed to be made, to the Deed of Trust.”7 The court therefore determined that Loree was

entitled to recover the reasonable attorney fees she incurred in this action pursuant to Utah Code § 78B-5-825(1).8 In a subsequent order denying Banner Bank’s Motion to Alter or Amend Judgment, the court rejected Banner Bank's argument that Loree was not a “prevailing party” under Utah law based on its argument that she failed to satisfy the damages element of her breach claim.9 The court explained that the Release's “obvious” and “sole[ ] purpose” was “to ensure that Loree was released and protected from ‘any and all’ legal claims ‘of any and every nature whatsoever relating to the Loan.’” 10 Moreover, the court explained that “the ‘natural’ result of Banner Bank's breach was that Loree had to hire an attorney to defend her against Banner Bank's

claims,” so her attorneys’ fee claim was “a proper assertion of direct damages for a breach of contract.”11 The court ultimately granted in part Banner Bank’s objections regarding the reasonableness of the attorney fees requested by Loree, reducing the requested fee award by $18,000.00, for a total award of $105,550.00.12 The court entered judgment in that amount on

7 Memorandum Decision and Order, ECF No. 291 at 24-25. 8 Id. at 23-25. 9 Memorandum Decision and Order Denying Motion to Alter and Amend, ECF No. 303. 10 Id. at 8. 11 Id. 12 Order Granting in Part Banner Bank’s Partial Objection to the Attorney Fees Affidavit of Robert Drummond and Reducing Award of Attorney Fees, ECF No. 304 at 4-5. August 12, 2019.13 On appeal, the Tenth Circuit sua sponte analyzed whether it was proper for this court, sitting in diversity, to have awarded fees pursuant to the Utah bad-faith statute.14 The Tenth Circuit found that the Utah statute is procedural—rather than substantive—and that the statute conflicts with the exceptions to the federal policy encompassed in the “American Rule.”15 The

“American Rule” provides that parties bear their own fees and costs in court, absent some narrow exceptions, such as a federal court’s inherent power to punish bad faith by shifting fees.16 Thus, the Tenth Circuit concluded, “this conflict between competing procedural rules—federal and state—means that Utah’s law has no application in federal court.”17 Consequently, the Tenth Circuit ruled that, “§ 78B-5-825 is displaced in the federal system and district courts sitting in diversity cannot award fees under it.”18 In so ruling, the Tenth Circuit made clear, however, that: Our opinion is limited to the Erie problems raised by applying § 78B-5-825, a state procedural statute, in a diversity case. On remand, the district court remains able to award fees pursuant to the bad-faith exception to the American Rule or the sanctioning mechanism of Rule 11. Recalling how Loree briefed the case before trial, state law may also permit an award of attorneys’ fees as breach of contract damages. See, for example, Dallas Gas Partners, L.P. v. Prospect Energy Corp., 733 F.3d 148, 158 (5th Cir. 2013). We express no opinion on these options or the propriety of the district court's legal conclusions and fee calculations under § 78B-5-825.19

Accordingly, the court now considers whether attorney fees are available to Loree under an alternate theory.

13 Judgment, ECF No. 305. 14 Tenth Circuit Opinion, ECF No. 316. 15 Id. at 13-16. 16 See Chambers v. NASCO, Inc., 501 U.S. 32, 52 (1991). 17 Tenth Circuit Opinion, ECF No. 316 at 13. 18 Id. at 15. 19 Id. at 16. II. DISCUSSION On remand, the court awards $105,550 to Loree on two separate grounds: under the bad faith exception to the American Rule, and, alternatively, as direct damages flowing from Banner Bank’s breach of the Release Agreement.

A. Attorney Fees Are Awarded Under the Bad Faith Exception to the American Rule

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Related

Erie Railroad v. Tompkins
304 U.S. 64 (Supreme Court, 1938)
Hall v. Cole
412 U.S. 1 (Supreme Court, 1973)
Chambers v. Nasco, Inc.
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Federal Trade Commission v. Kuykendall
466 F.3d 1149 (Tenth Circuit, 2006)
Kornfeld v. Kornfeld
393 F. App'x 575 (Tenth Circuit, 2010)
Cornwall v. Robinson
654 F.2d 685 (Tenth Circuit, 1981)
Dallas Gas Partners, L.P. v. Prospect Energy Corp.
733 F.3d 148 (Fifth Circuit, 2013)
Beck v. Farmers Insurance Exchange
701 P.2d 795 (Utah Supreme Court, 1985)
Ranch Homes, Inc. v. Greater Park City Corp.
592 P.2d 620 (Utah Supreme Court, 1979)
Espenschied Transp. Corp. v. Fleetwood Servs., Inc.
2018 UT 32 (Utah Supreme Court, 2018)
McCleve Properties, LLC v. D. Ray Hult Family Ltd. Partnership
2013 UT App 185 (Court of Appeals of Utah, 2013)
Banner Bank v. Smith
30 F.4th 1232 (Tenth Circuit, 2022)

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Banner Bank v. Real Estate Investor Education, Counsel Stack Legal Research, https://law.counselstack.com/opinion/banner-bank-v-real-estate-investor-education-utd-2025.