Camp v. Gerwin

2024 Ohio 84, 233 N.E.3d 1149
CourtOhio Court of Appeals
DecidedJanuary 12, 2024
DocketC-230066, C-230082
StatusPublished
Cited by1 cases

This text of 2024 Ohio 84 (Camp v. Gerwin) is published on Counsel Stack Legal Research, covering Ohio Court of Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Camp v. Gerwin, 2024 Ohio 84, 233 N.E.3d 1149 (Ohio Ct. App. 2024).

Opinion

[Cite as Camp v. Gerwin, 2024-Ohio-84.]

IN THE COURT OF APPEALS FIRST APPELLATE DISTRICT OF OHIO HAMILTON COUNTY, OHIO

THOMAS H. CAMP, : APPEAL NOS. C-230066 C-230082 and : TRIAL NO. A-2103908

PATRICIA E. CAMP, :

Plaintiffs-Appellees/Cross- : O P I N I O N. Appellants, :

VS. :

: ROBERT F. GERWIN, II, : and : CAMP SAFETY EQUIPMENT, INC., : Defendants-Appellants/Cross- Appellees.

Civil Appeals From: Hamilton County Court of Common Pleas

Judgment Appealed From Is: Affirmed

Date of Judgment Entry on Appeal: January 12, 2024

Flagel & Papakirk LLC, James Papakirk, Hallie Schneider Borellis and Zachary P. Elliot, for Plaintiffs-Appellees/Cross-Appellants,

Strauss Troy Co., LPA, and Alex S. Rodger, for Defendants-Appellants/Cross-Appellees. OHIO FIRST DISTRICT COURT OF APPEALS

BERGERON, Judge.

{¶1} After the sale of a small business in 2016, financial difficulties besieged the

company, leading to the renegotiation of several agreements and ultimately contentious

litigation as both buyer and seller sought to assign blame. Plaintiffs-appellees/cross-

appellants Thomas and Patricia Camp (“the Camps”) sold their safety equipment business,

defendant-appellant/cross-appellee Camp Safety Equipment (“CSE”), to defendant-

appellant/cross-appellee Robert H. Gerwin. Following the failure of CSE and Mr. Gerwin

(collectively, “Defendants”) to meet their payment obligations, Mr. Camp sued for breach of

contract. Mr. Gerwin countersued, accusing the Camps of breaching the initial contract and

committing fraud at the time of the sale. Sorting through all of this, the trial court ultimately

granted the Camps’ summary judgment motions, finding that Defendants defaulted on their

payment obligations and rejecting their efforts to escape the governing contracts. After

reviewing the appeal and cross-appeal, we conclude that the trial court got it right and affirm

its judgment in full.

I.

{¶2} In January 2016, the Camps sold their business, CSE, to Mr. Gerwin pursuant

to a Stock Purchase Agreement (“SPA”) wherein he agreed to purchase all issued and

outstanding shares of CSE. A prototypical transaction document, the SPA contained various

representations and warranties regarding the assets of CSE, including that “all inventory of

the business recorded and unrecorded on the Company’s balance sheet as of the Closing Date

(“the inventory”), as shown on Schedule 6.18, * * * shall be at least equal to the amount shown

on Schedule 6.11 for Inventory as of the Closing Date.” The survival provision of the SPA

provided that all covenants, agreements, representations, and warranties expressed in the

agreement “shall survive the Closing for a period of five (5) years from the Closing Date.” The

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SPA also included a setoff provision, allowing either party to deduct any amount owed to them

under the agreement from any amount owed by them under the agreement.

{¶3} In connection with the transaction, CSE executed a promissory note (“Note”)

in favor of Mr. Camp, and Mr. Gerwin executed a guaranty of payment (“Guaranty”). Under

the Note, CSE agreed to pay Mr. Camp $371,950 over a period of time with annual interest of

five percent. And under the Guaranty, Mr. Gerwin personally and unconditionally

guaranteed the payment of certain debts under the Note, including: (1) the outstanding

principal balance of $371,950 plus applicable interest, (2) a Bank of America credit card with

an outstanding balance of $20,541.29 at closing, and (3) a Discover credit card with an

outstanding balance of $11,342.29 at closing.

{¶4} After the transaction closed, Mr. Gerwin began operating CSE. From the

outset, however, he uncovered accounting discrepancies related to CSE’s inventory and

accounts payable, spurring him to close the business for two weeks to perform an inventory

count. This deep dive into the books and records allegedly uncovered that the inventory

amount disclosed in the SPA was short by almost $100,000. Despite this shocking discovery,

Mr. Gerwin stayed mum about it and said nothing of consequence to Mr. Camp.

{¶5} About two and a half years later, as CSE struggled financially, the Camps and

CSE executed an amended promissory note (“Amended Note”). The Amended Note

acknowledged that the outstanding balance on the Note was $361,860, amended the

amortization schedule of the Note, and extended its maturity date. The parties also ratified

and reaffirmed the remaining terms and conditions of the Note and the Guaranty in the

Amended Note. Throughout the negotiations leading to this amended document, Mr. Gerwin

raised no objection about the missing inventory.

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{¶6} In December 2020, more than two years after the ratification of the Amended

Note, Mr. Camp and Defendants entered into an Inventory Agreement, which reduced the

principal amount owed by Defendants under the Note and Guaranty by $150,000 in exchange

for the transfer of “substantially all” of CSE’s inventory from Defendants back to Mr. Camp.

In the Inventory Agreement, Defendants acknowledged that CSE and Mr. Gerwin jointly and

severally owed Mr. Camp the original principal amount of $371,950 under the Note, as

amended by the Amended Note, and the Guaranty. They also expressly acknowledged and

agreed that the Note and Guaranty were in default, and that Mr. Camp had accelerated the

remaining principal and accrued and unpaid interest. Again, Mr. Gerwin raised no objection

at this time about missing inventory, even in the midst of negotiating an Inventory

Agreement. And phantom inventory or no, he agreed to transfer all of the inventory back to

Mr. Camp.

{¶7} In November 2021—nearly one year after the Inventory Agreement and almost

six years after closing—Mr. Camp filed a complaint against Defendants, alleging breach of the

Note and the Guaranty and requesting attorney fees. Defendants subsequently filed an

answer and counterclaim against Mr. Camp, claiming breach of the SPA, fraud, and breach of

a noncompete agreement. Defendants contemporaneously filed a separate action against Ms.

Camp, asserting the same breach of the SPA and fraud claims based on the same events.

Eventually, the trial court consolidated both cases.

{¶8} In April 2022, Mr. Camp filed a partial motion for summary judgment on all

three counts asserted in the complaint. After receiving an extension of time to conduct

discovery, Defendants opposed the summary judgment motion. On the date of the scheduled

summary judgment hearing, the Camps filed a second motion for summary judgment,

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targeting the counterclaims asserted against them by Defendants. Defendants again filed a

response in opposition to that summary judgment motion.

{¶9} In January 2023, the trial court granted the summary judgment motions,

awarding judgment against Defendants, jointly and severally, in the amount of $221,143.74

plus interest and costs and reasonable attorney fees. The entry further provided that “Plaintiff

shall submit said attorney’s fees to the Court by Motion and Affidavit.” And it included the

following language: “This is a final appealable order and there is no just cause for delay.”

{¶10} Following that judgment, the Camps filed a motion to correct a clerical error

under Civ.R.

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2024 Ohio 84, 233 N.E.3d 1149, Counsel Stack Legal Research, https://law.counselstack.com/opinion/camp-v-gerwin-ohioctapp-2024.