Craig Schubiner v. Can IV Packard Square LLC

CourtMichigan Court of Appeals
DecidedJuly 17, 2026
Docket371134
StatusPublished

This text of Craig Schubiner v. Can IV Packard Square LLC (Craig Schubiner v. Can IV Packard Square LLC) is published on Counsel Stack Legal Research, covering Michigan Court of Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Craig Schubiner v. Can IV Packard Square LLC, (Mich. Ct. App. 2026).

Opinion

If this opinion indicates that it is “FOR PUBLICATION,” it is subject to revision until final publication in the Michigan Appeals Reports.

STATE OF MICHIGAN

COURT OF APPEALS

CRAIG SCHUBINER, FOR PUBLICATION July 17, 2026 Plaintiff-Appellant, 2:33 PM

V No. 371134 CAN IV PACKARD SQUARE, LLC, Oakland Circuit Court LC No. 2023-200199-CB Defendant-Appellee.

CAN IV PACKARD SQUARE, LLC,

Plaintiff-Appellee,

V CRAIG SCHUBINER, No. 377133 Defendant-Appellant, Oakland Circuit Court LC No. 2018-167408-CB and

BCL PROPERTIES LIMITED PARTNERSHIP,

Intervenor,

and

305 ASSOCIATES, LLC,

Intervenor-Appellant.

Before: MALDONADO, P.J., and RIORDAN and YOUNG, JJ.

YOUNG, J.

-1- These consolidated appeals1 are the latest chapter in the lengthy litigation between Craig Schubiner and Can IV Packard Square LLC (Can IV). In Docket No. 371134, Schubiner appeals as of right the trial court’s February 26, 2024 order that granted summary disposition in favor of Can IV on Schubiner’s claim for relief from judgment pursuant to MCR 2.612(C)(3). In Docket No. 377133, Schubiner and 305 Associates, LLC (305), appeal as of right the trial court’s March 14, 2025 order, which (1) found that Schubiner had engaged in a fraudulent transfer of real estate and (2) voided the transfer. In both docket numbers, we affirm.

I. FACTUAL BACKGROUND AND PROCEDURAL HISTORY

In Can IV Packard Square, LLC v Schubiner, unpublished per curiam opinion of the Court of Appeals, issued April 29, 2021 (Docket Nos. 352510, 354185, 354821, and 354186) (Schubiner I), pp 2-6, this Court summarized the lengthy history between these parties as follows:

This case arises out of a nearly $54 million loan that [Can IV] made to [Schubiner’s] company, Packard Square, LLC (“Packard Square”), in October 2014 to finance the construction of a luxury retail and residential development project in Ann Arbor, Michigan. As Packard Square’s principal, [Schubiner] signed a guaranty contract as security for the construction loan. After multiple construction delays, [Can IV] sued Packard Square in Washtenaw Circuit Court in October 2016 (“the Washtenaw action” or “the Washtenaw case”); [Can IV] requested the appointment of a receiver to manage the construction project and sought foreclosure on the mortgage that Packard Square had granted to [Can IV] to secure the loan.

At the outset of the Washtenaw action, the trial court granted [Can IV’s] request for the appointment of a receiver, and this Court affirmed the appointment of the receiver. Following the issuance of this Court’s opinion affirming the Washtenaw Circuit Court’s order appointing the receiver, Packard Square applied for leave to appeal in our Supreme Court, which denied the application for leave to appeal.

Meanwhile, during its appeal of the receivership order, Packard Square filed for bankruptcy. The bankruptcy court dismissed the bankruptcy case and noted that “[a] dismissal will avoid any needless confusion or doubt about the ability of the Receiver and the state court in the receivership case to carry on, as if no bankruptcy had been filed.” In affirming the bankruptcy court’s dismissal of the bankruptcy petition, the United States District Court for the Eastern District of Michigan stated that “the [Washtenaw Circuit Court] found, and the Michigan Court of Appeals affirmed those findings, that [Packard Square] had mismanaged the Project in several different ways, leading to delays and missed milestones.”

After the appointment of the receiver, the Washtenaw case proceeded with discovery. [Can IV] eventually moved for summary disposition on its foreclosure

1 Schubiner v Can IV Packard Square LLC, unpublished order of the Court of Appeals, entered December 30, 2025 (Dockets Nos. 371134 and 377133).

-2- claim, seeking foreclosure both on Packard Square’s mortgage and on a higher priority mortgage securing an additional loan that [Can IV] had made to the receiver to complete construction. In September 2018, the trial court granted summary disposition to [Can IV] on its foreclosure claim and “entered a judgment of foreclosure authorizing the sale of the property at a sheriff’s sale.” The property was sold to [Can IV] for a $75 million credit bid at the November 15, 2018 foreclosure sale, and Packard Square filed an appeal from the judgment of foreclosure. This Court dismissed Packard Square’s appeal as moot after Packard Square failed to redeem the property within the redemption period as provided in MCL 600.3140. Following the issuance of this Court’s opinion dismissing the appeal, Packard Square applied for leave to appeal in our Supreme Court, which denied the application for leave to appeal.

On February 15, 2019, the Washtenaw Circuit Court entered an order granting summary disposition to [Can IV] regarding counterclaims that Packard Square had asserted against [Can IV] in the Washtenaw case. . . .

On July 30, 2018, [Can IV] filed [an] action against [Schubiner] for breach of the guaranty contract. [Can IV] alleged that, under the terms of the guaranty contract, [Schubiner] had agreed to be liable for the full amount of [Can IV’s] loan to Packard Square upon the occurrence of certain recourse triggers. Among those recourse triggers were the filing by Packard Square or [Schubiner] of a voluntary bankruptcy proceeding and opposition by Packard Square or [Schubiner] to a motion of [Can IV] for relief from the automatic bankruptcy stay. [Can IV] asserted that, through bankruptcy filings made by [Schubiner] on behalf of Packard Square, [Schubiner] breached the guaranty contract and triggered the recourse provisions of the guaranty contract. Those actions made [Schubiner] liable to [Can IV] for the full amount of the loan, including all principal, interest, advances, fees, and charges.

On December 17, 2018, [Schubiner] filed an answer denying liability and asserted affirmative defenses and counterclaims. . . .

The parties filed competing motions for summary disposition pursuant to MCR 2.116(C)(10) regarding both [Can IV’s] breach of contract claim and [Schubiner’s] counterclaims. On December 11, 2019, the trial court issued an opinion and order granting summary disposition to [Can IV] on both its breach of contract claim and [Schubiner’s] counterclaims. On December 17, 2019, the trial court entered a judgment for [Can IV] and against [Schubiner] in the amount of $13,992,936.05, along with attorney fees, consultant fees, continuing interest, and costs.

Extensive postjudgment litigation ensued regarding [Can IV’s] collection efforts against [Schubiner] and entities associated with [Schubiner]. On January 16, 2020, the trial court entered an order enjoining [Schubiner] from transferring assets outside of the normal course of business pending the satisfaction of the judgment.

-3- On March 6, 2020, proposed intervenors, BCL [Properties Limited Partnership] and 305, filed trial court motions to intervene, quash garnishments, set aside judgment liens, and vacate orders to seize property. According to proposed intervenors, [Can IV] had improperly attempted to execute the December 17, 2019 judgment in this case against multiple properties that are each owned by either BCL or 305 which are located in Birmingham, Michigan, or Ann Arbor, Michigan. 305 was owned by a number of trusts of which [Schubiner] and members of his family were beneficiaries. BCL was owned by [Schubiner] as a general partner and a limited partner named Richard Rogel. Proposed intervenors sought to intervene in order to protect their ownership interests in the properties and to prevent [Can IV] from undertaking collection efforts against the properties owned by proposed intervenors. [Schubiner] filed a concurrence in proposed intervenors’ motion.

. . . .

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Craig Schubiner v. Can IV Packard Square LLC, Counsel Stack Legal Research, https://law.counselstack.com/opinion/craig-schubiner-v-can-iv-packard-square-llc-michctapp-2026.