City Life Live, L.L.C., and Marcia D. Meredith v. Post Office Employees Federal Credit Union

CourtLouisiana Court of Appeal
DecidedMay 15, 2024
Docket55,483-CA
StatusPublished

This text of City Life Live, L.L.C., and Marcia D. Meredith v. Post Office Employees Federal Credit Union (City Life Live, L.L.C., and Marcia D. Meredith v. Post Office Employees Federal Credit Union) is published on Counsel Stack Legal Research, covering Louisiana Court of Appeal primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
City Life Live, L.L.C., and Marcia D. Meredith v. Post Office Employees Federal Credit Union, (La. Ct. App. 2024).

Opinion

Judgment rendered May 15, 2024. Application for rehearing may be filed within the delay allowed by Art. 2166, La. C.C.P.

No. 55,483-CA

COURT OF APPEAL SECOND CIRCUIT STATE OF LOUISIANA

*****

CITY LIFE LIVE, L.L.C. and Plaintiffs-Appellants MARCIA D. MEREDITH

versus

POST OFFICE EMPLOYEES Defendant-Appellee FEDERAL CREDIT UNION

Appealed from the First Judicial District Court for the Parish of Caddo, Louisiana Trial Court No. 582,513

Honorable Michael A. Pitman, Judge

MARCIA D. MEREDITH In Proper Person/Agent, Appellants

TAYLOR, WELLONS, POLITZ, Counsel for Appellee & DUHE, APLC By: Travis Brendon Wilkinson

Before STONE, ROBINSON, and ELLENDER, JJ. ROBINSON, J.

City Life Live, L.L.C. (“City Life”) and Marcia Meredith appeal a

judgment dismissing their claims for damages after the Post Office

Employees Federal Credit Union (“credit union”) placed an administrative

freeze on their accounts, placed Meredith’s loan in default, and accelerated

repayment of the loan.

For the following reasons, we affirm the judgment and all post-

judgment rulings.

FACTS

Meredith, who described herself as a wealth asset manager with more

than 20 years of experience in finance, started banking at the credit union in

1994 when she was 18. It was where she did her personal and business

banking. Her account number at the credit union was 10126. There were

four suffix accounts under that account number: 001, 015, 061, and 063.

In 2009, Meredith formed City Life, which provides a hotline for

interested people to call concerning live events in a city. She is its manager

and chief executive officer. Two accounts for City Life were opened at the

credit union on July 3, 2013. The account numbers were 14715 and 14716,

with the former used as an expense account and the latter used for payroll.

Meredith was the joint owner of both accounts. Account 14715 had three

suffix accounts: 001, 002, and 015. Account 14716 had two suffix accounts:

001 and 015. Meredith’s and City Life’s accounts are collectively referred

to as “the accounts.”

On July 8, 2013, Meredith pledged the funds in account 10126-001 to

secure a loan from the credit union. The loan was refinanced four months later. On November 5, 2013, she pledged funds in her account 10126-001

and in City Life’s account 14715-002 to secure a loan for $64,399.59.

Jeremy Landau was one of City Life’s investors. In July of 2013, he

wired $250,000 into the accounts.

James David Smith was the manager and chief executive officer of the

credit union in February of 2014. He has known Meredith for most of her

life. Smith described the credit union as small, having only $40 million in

assets. Meredith was personally known to the other employees at the credit

union.

Fred McCoy was the credit union’s accountant in February of 2014.

He has been its chief executive officer since October of 2015.

On February 4, 2014, someone identifying himself as Loren Dawson,

an investigator for the District Attorney of Orange County, California, called

McCoy. Dawson told McCoy that they were conducting an investigation in

Orange County and he wanted to obtain some records of a credit union

member. The member was not identified. Dawson said they would send

over a search warrant.

On February 5, 2014, a search warrant was faxed from Dawson to

McCoy at the credit union. It ordered the production of records in the name

of City Life, a City Life account, Meredith, and any account in which

Meredith is an authorized signer thereof.

McCoy brought the warrant to Smith. Smith asked McCoy to call

Dawson and obtain some clarification about what was being sought by

Dawson. According to Smith, no action was taken on this warrant.

2 The same day that the warrant was received, McCoy found online the

phone number for the office of the Orange County District Attorney, called

it, and asked to speak to Dawson. When he was connected to Dawson,

McCoy told Dawson that he had shown the warrant to his manager, who had

some questions and wanted to know more information about the situation.

Dawson said that a school board member had stolen $250,000, and that they

had traced the money to a credit union account. McCoy conveyed that

information to Smith. The warrant was provided to David White, the

attorney for the credit union.

On February 9, 2014, a second search warrant was faxed to the credit

union. Because that date was a Sunday, the credit union did not see the

second warrant until the next day. This warrant commanded the credit union

to seize all moneys in accounts 14715, 14716, and 10126. The warrant

stated that the funds could be seized by agreement and consent if the credit

union held the accounts in suspension and did not allow any transactions

relating to the accounts without an order from the California court.

After discussing the matter with McCoy, Smith contacted White.

Smith made the decision to freeze Meredith’s and City Life’s accounts and

to place her loan in default.

The administrative freeze was placed on February 10, 2014. On that

same date, the credit union removed $38,452.08 from Meredith’s account

10126-001 and $24,458.28 from City Life’s account 14715-002. McCoy

could not recall the order in which the actions were done, but emphasized

the freeze and the loan acceleration were entirely separate actions.

3 Meredith first learned the accounts were frozen on February 11 when

she tried to use the ATM and learned that she had a zero balance. Upon

entering the credit union, she asked to speak with Smith, who told her that

the credit union had placed a freeze on the accounts. Smith eventually gave

her the search warrant documents. He also told Meredith that she probably

needed to get an attorney.

Meredith claimed that Smith told her they were copying City Life’s

and her financial records and information in response to the search warrants.

She asked Smith not to turn over the records. Smith denied that he ordered

copies of the record to be made in response to the warrants.

Meredith conferred with two out-of-state attorneys who had advised

her in business matters. On their advice, she hired a local attorney on

February 20.

On February 21, 2014, City Life and Meredith filed a motion in the

First Judicial District Court of Caddo Parish for a temporary restraining

order, preliminary injunction, permanent injunction, and immediate release

of frozen funds.

On February 24, 2014, the district court signed an order that the

temporary restraining order be issued and that the credit union immediately

release the funds in accounts 14715, 14716, and 10126 to the plaintiffs. The

credit union was ordered to show cause on March 24 why a preliminary

injunction should not be issued.

The credit union immediately lifted the freeze on the accounts, which

had continued to earn interest during the freeze. When Meredith attempted

4 to make a loan payment, she learned that her loan had been satisfied through

the pledged funds.

On February 24, 2014, Meredith removed nearly all remaining funds

from her accounts at the credit union. For instance, $58,000 was withdrawn

from City Life’s account 14715-015.

The Orange County District Attorney’s Office did not contact the

credit union again after the second warrant.

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City Life Live, L.L.C., and Marcia D. Meredith v. Post Office Employees Federal Credit Union, Counsel Stack Legal Research, https://law.counselstack.com/opinion/city-life-live-llc-and-marcia-d-meredith-v-post-office-employees-lactapp-2024.