Barnes v. Perry

2018 NCBC 77
CourtNorth Carolina Business Court
DecidedJuly 30, 2018
Docket18-CVS-177
StatusPublished

This text of 2018 NCBC 77 (Barnes v. Perry) is published on Counsel Stack Legal Research, covering North Carolina Business Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Barnes v. Perry, 2018 NCBC 77 (N.C. Super. Ct. 2018).

Opinion

Barnes v. Perry, 2018 NCBC 77.

STATE OF NORTH CAROLINA IN THE GENERAL COURT OF JUSTICE SUPERIOR COURT DIVISION CRAVEN COUNTY 18 CVS 177

RONALD HOWARD BARNES,

Plaintiff,

v.

ELY J. PERRY, III; PERRY ORDER AND OPINION ON BROTHERS PROPERTIES, LLC; DEFENDANTS’ MOTION TO STRIKE PERRY WIVES, LLC; PERRY AND MOTION TO DISMISS GRANDCHILDREN, LLC; DOWN EAST HOLDINGS, LLC; and PERRY’S, INC.,

Defendants.

1. THIS MATTER is before the Court on Defendants’ motion to strike (the

“Motion to Strike”) and motion to dismiss (the “Motion to Dismiss”) filed on April 16,

2018 as a single motion. (The Motion to Strike and Motion to Dismiss are collectively

referred to herein as the “Motions.”) For the reasons set forth below, the Court hereby

DENIES the Motion to Strike and GRANTS in part and DENIES in part the

Motion to Dismiss.

Mast, Mast, Johnson, Wells & Trimyer, P.A., by George B. Mast and Clint A. Mast, for Plaintiff.

White & Allen, P.A., by John P. Marshall & Matthew S. Sullivan, for Defendants.

Robinson, Judge. I. FACTUAL BACKGROUND

2. The Court does not make findings of fact on motions to dismiss under Rule

12(b)(6) of the North Carolina Rules of Civil Procedure (“Rule(s)”) but only recites

those factual allegations of the Complaint that are relevant and necessary to the

Court’s determination of the Motion to Dismiss.

3. Plaintiff Ronald Howard Barnes (“Plaintiff”) and Defendant Ely J. Perry,

III (“Perry”) are North Carolina residents who allegedly agreed to form a partnership

to develop commercial properties for lease or sale. (Compl. ¶¶ 1–2, 24, 28, 34, ECF

No. 4.)

4. Defendants Perry Brothers Properties, LLC (“Perry Brothers”), Perry

Wives, LLC, Perry Grandchildren, LLC, and Down East Holdings, LLC (“Down East”)

(collectively, the “Perry Entities”) are North Carolina limited liability companies with

their principal offices at the same address in Lenoir County. (Compl. ¶¶ 3, 7, 11, 14.)

Perry is both the registered agent for and a member and manager of each of the Perry

Entities. (Compl. ¶¶ 4–6, 8–10, 12–13, 15–17, 23.)

5. Defendant Perry’s, Inc. is a North Carolina corporation that shares an

address for its principal office with the Perry Entities. (Compl. ¶ 18.) Perry is the

registered agent and secretary of Perry’s, Inc. (Compl. ¶¶ 20, 22.)

6. Beginning in approximately 2009 and ending in 2016, Plaintiff and Perry

operated as a partnership developing commercial properties to be sold or leased.

(Compl. ¶¶ 24, 28, 60, 66, 90, 146.) Plaintiff and Perry initially agreed to contribute

equal capital to the partnership, but when Plaintiff was unable to do so, Plaintiff was permitted to instead contribute his “expertise, contacts, services, and expenses.”

(Compl. ¶¶ 25–27.) Plaintiff and Perry agreed that profits and losses would be shared

equally by the partners. (Compl. ¶ 27.)

7. Beginning in 2009, Plaintiff located suitable properties to be purchased for

the partnership. (Compl. ¶¶ 28, 54.) Once the properties were under contract, Perry

usually advanced Plaintiff a portion of the expected profits. (Compl. ¶¶ 34, 37.)

Plaintiff and Perry understood that the advances were not intended to represent

Plaintiff’s entire share of the partnership profits but that once a property began

generating profits, Plaintiff was entitled to half of the profits less the amount

previously advanced. (Compl. ¶¶ 37–38, 40.) Were the partnership to experience a

loss, Plaintiff and Perry would share those losses equally. (Compl. ¶ 34.)

8. Plaintiff and Perry acquired and developed eight separate properties.

(Compl. ¶¶ 54–56, 59, 70–73, 83–85, 88, 96–99, 108–10, 120–24, 129–33, 154, 157.)

Although the properties were acquired for the benefit of the partnership, all of the

properties were titled to one of the Perry Entities. (Compl. ¶¶ 29, 67, 82, 95, 107,

110, 128, 130, 150, 166, Exs. B–G, I–J, L.)

9. Once a partnership property was acquired, Plaintiff developed the property,

located and secured tenants, negotiated and entered into contracts and leases, and

addressed any issues that arose that affected the profitability of the partnership’s

investment. (Compl. ¶ 28.) Perry provided the capital necessary for Plaintiff to fulfill

his part of the partnership agreement and encouraged Plaintiff to provide services to

the partnership. (Compl. ¶¶ 28, 47.) 10. During the course of the partnership, Plaintiff and Perry referred to each

other as partners in their own dealings and held each other out to third parties as

partners. (Compl. ¶¶ 42–46.) Third parties with whom Plaintiff dealt also

understood Plaintiff and Perry to be partners and treated Plaintiff as “the face of the

partnership,” coming to him with any issues concerning the properties. (Compl.

¶¶ 47, 49.)

11. On at least two occasions, Plaintiff, for purposes of expediency, had his

separate business, on behalf of the partnership, enter into a lease or a development

contract involving the partnership properties. (Compl. ¶¶ 123, 158.)

Notwithstanding the fact that the properties were held by the Perry Entities and

Plaintiff’s separate business entered into contracts on behalf of the partnership, the

properties and their profits were partnership assets. (Compl. ¶¶ 29, 31, 123, 130,

158.) At the same time, the partnership agreed to provide Down East with a portion

of the profits generated by a partnership property in Fayetteville and to provide a

Perry Entity with a portion of the profits generated by a partnership property in

Raleigh. (Compl. ¶¶ 118, 159.)

12. Plaintiff alleges that, with limited exceptions, when a partnership property

generated income, Perry or one of the Perry Entities improperly retained Plaintiff’s

share of partnership profits. (Compl. ¶¶ 39, 66, 80, 93, 104–05, 114–15, 127, 147–

48.) For example, when the partnership allowed a lessee to buy out its lease of a

partnership property that was held by Down East, Plaintiff was not paid his share of

the $150,000 buy-out price. (Compl. ¶¶ 113–15.) Additionally, Perry sold a partnership property held by Perry Brothers for $1,520,000 without informing

Plaintiff of the sale and then refused to pay Plaintiff his share of the sale proceeds

when Plaintiff discovered the sale and demanded to be paid his share. (Compl. ¶¶ 66,

68.) The only occasion on which Plaintiff was alleged to have received partnership

profits occurred after a partnership property in Fayetteville that was titled to Down

East was sold on February 18, 2015 and Plaintiff received a portion of the sale

proceeds. (Compl. ¶¶ 117–18, Ex. H.)

13. While the Complaint generally alleges that Plaintiff and Perry agreed that

profits were to be split 50-50, after Plaintiff located a suitable property in Raleigh

and contracted with a tenant through his separate business, Plaintiff alleges that the

partnership agreed that Plaintiff and Perry would each be entitled to 40% of the

profits and a Perry Entity would receive the final 20%. (Compl. ¶¶ 154–59.) Perry,

who controlled all of the financial information about the Raleigh property, offered to

purchase Plaintiff’s share but refused to provide Plaintiff with financial information

about the profitability of the property despite repeated demands. (Compl. ¶¶ 161–

62, 164.) Plaintiff ultimately sold his share to Perry for the price offered by Perry

without receiving the requested financial information. (Compl. ¶ 165.)

14.

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