Capital River Enterprise, LLC v. Abod

CourtDistrict of Columbia Court of Appeals
DecidedSeptember 21, 2023
Docket22-CV-0548
StatusPublished

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Capital River Enterprise, LLC v. Abod, (D.C. 2023).

Opinion

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DISTRICT OF COLUMBIA COURT OF APPEALS

No. 22-CV-0548

CAPITAL RIVER ENTERPRISES, LLC, et al., APPELLANTS,

V.

CHRISTOPHER ABOD, et al., APPELLEES.

Appeal from the Superior Court of the District of Columbia (2022-CA-000258-R(RP))

(Hon. Hiram E. Puig-Lugo, Trial Judge)

(Argued March 7, 2023 Decided September 21, 2023)

Brian West, with whom Benjamin G. Chew and Andrew C. Crawford were on the brief, for appellants.

Nathan J. Bresee, David S. Panzer, and Joseph M. Creed, with whom Michael J. Bramnick and David H. Cox were on the brief, for appellees Christopher Abod, Harry Roupas, and BCJCL, LLC.

Spencer B. Ritchie, with whom Richard W. Luchs and Gwynne L. Booth were on the brief, for appellee Premium Title & Escrow, LLC.

Before DEAHL and HOWARD, Associate Judges, and THOMPSON, Senior Judge.

DEAHL, Associate Judge: Capital River was a three-member LLC formed to

buy and sell properties for profit. One of its members, Kuei-Yin Chang Liu, alleges 2

that the other two members defrauded Capital River. Specifically, Liu alleges that

the other two members encumbered Capital River’s property with two loans—after

they forged Capital River’s operating agreement to omit Liu’s ownership interest—

and then kept the money for themselves. In an important twist, Capital River’s true

operating agreement granted those two members the authority to take out the loans

on Capital River’s behalf anyhow, meaning any forgery was immaterial to their

ability to do so. Capital River and Liu sued the grantors of those loans for quiet title

and sued the escrow agent that facilitated them for negligence. The trial court found

that each of their claims failed because the two members who took out the loans

against the properties had the actual authority to enter into those transactions. The

court therefore granted the grantor-defendants’ motion to dismiss and granted the

escrow agent’s motion for summary judgment.

Capital River and Liu now appeal, arguing that the trial court erred in

dismissing their quiet title claim because deeds entered into on the basis of a forged

operating agreement are rendered void ab initio. For that proposition, they rely on

Smith v. Wells Fargo Bank, in which we held that a forged power of attorney renders

a deed void. 991 A.2d 20, 26 (D.C. 2010). We have never extended that rule beyond

powers of attorney, however, and it does not make sense to extend the rule to the

scenario we confront here, so we detect no error. 3

Capital River and Liu also challenge the trial court’s grant of summary

judgment to the escrow agent regarding their negligence claim. They argue that the

escrow agent had a fiduciary duty to inform Capital River of certain information—

namely, that two of its members were attempting to defraud it—and that the escrow

agent failed to do so. Though the trial court technically granted pre-discovery

summary judgment on this claim, the order was effectively a dismissal for failure to

state a claim: the court concluded that Capital River and Liu would not have a viable

claim, regardless of whether they could substantiate all of their factual allegations.

We conclude that this order was erroneous and reverse it.

We affirm the trial court’s grant of the motion to dismiss, and we reverse in

part its grant of the motion for summary judgment as it relates to the negligence

claim.

I.

Kuei-Yin Chang Liu, Napoleon Ibiezugbe, and Kevin Falkner together

formed Capital River Enterprises, LLC, to “purchase, develop and sell” for profit

two parcels of property located at 2318-2322 Nicholson Street Southeast. The terms

governing the LLC were laid out in two documents: an operating agreement and a

memorandum of understanding (MOU), which was incorporated into the operating 4

agreement. These documents stated that, together, they constituted the “entire

agreement among the Members.”

The operating agreement stated that Liu would have a 50% ownership interest,

while Ibiezugbe and Falkner would have 25% each. The parties agreed that Liu

would finance the project, while Ibiezugbe and Falkner would conduct the day-to-

day work of improving the properties. To that end, the MOU stated that Liu would

contribute $1.6 million to the LLC. Around $1.4 million would be used to buy the

property, and the remaining money would be used to pay for costs associated with

development of the property. Meanwhile, Ibiezugbe and Falkner would be

“responsible for . . . all maintenance costs of the property,” “all expenses, costs and

fees incurred after the exhaustion of the Planning and Permitting Funds,” and “all

actions necessary to hire, and fire, architects, engineers, lawyers and related

professionals of their choosing to advance and complete the Project.” Importantly,

the MOU provided that “[a]ll major decisions and choices . . . shall be made by a

two-third[s] majority vote of the Members, each of whom shall have one vote for

each major decision required.”

With the money Liu had invested, Capital River bought the Nicholson Street

properties in October 2017, with Premium Title & Escrow, LLC, acting as its escrow 5

agent. About two years later, Ibiezugbe and Falkner took out two loans on behalf of

Capital River, using the properties as security. In April 2019, Ibiezugbe and Falkner

entered into a deed of trust (encumbering the properties) on behalf of Capital River

with Christopher Abod and Harry Roupas, in exchange for a loan of $499,000. In

November 2019, they entered into a second deed of trust on behalf of Capital River

with BCJCL, LLC, in exchange for a loan of $375,000. Premium Title again acted

as the escrow agent for both transactions.

Capital River and Liu 1 now allege that these loans were entered into for

Ibiezugbe and Falkner’s personal gain, that Liu was not aware of the transactions,

and that Capital River did not profit from them. Specifically, Capital River alleges

that Ibiezugbe and Falkner gave the lenders a forged operating agreement that named

Ibiezugbe and Falkner as the sole members of the LLC, omitting any mention of Liu.

Capital River further alleges that Ibiezugbe and Falkner deposited the loan funds

into their personal accounts and that Capital River never received any money from

the loans. According to Capital River, Liu did not find out about the loans until over

a year later. At that time, the three members amended the operating agreement and

MOU. The amendment stated that “the Parties acknowledge that [Ibiezugbe and

1 This opinion refers to Liu and Capital River collectively as “Capital River” unless otherwise specified. 6

Falkner] have breached the [operating agreement] and MOU” and amended the

MOU to give Liu sole decisionmaking power.

Capital River and Liu sued the loan grantors, Abod, Roupas, and BCJCL, and

the escrow agent, Premium Title. Capital River sought quiet title against the grantor-

defendants, asking the court to declare the two deeds void. It brought a claim of

negligence against Premium Title, arguing that Premium Title breached its fiduciary

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