Enterprise Bank & Trust v. VanLerberg

CourtCourt of Appeals of Kansas
DecidedJune 10, 2016
Docket113784
StatusUnpublished

This text of Enterprise Bank & Trust v. VanLerberg (Enterprise Bank & Trust v. VanLerberg) is published on Counsel Stack Legal Research, covering Court of Appeals of Kansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Enterprise Bank & Trust v. VanLerberg, (kanctapp 2016).

Opinion

NOT DESIGNATED FOR PUBLICATION

No. 113,784

IN THE COURT OF APPEALS OF THE STATE OF KANSAS

ENTERPRISE BANK & TRUST, Appellee,

v.

STEVEN VANLERBERG, et al., (GREGORY D. PRIEB and the GREGORY D. PRIEB REVOCABLE TRUST), Appellants.

MEMORANDUM OPINION

Appeal from Johnson District Court; DAVID W. HAUBER, judge. Opinion filed June 10, 2016. Affirmed.

Lawrence L. Ferree, III and Brett T. Runyon, of Ferree, Bunn, Rundberg, Radom & Ridgway, Chartered, of Overland Park, for appellants Gregory D. Prieb and Gregory D. Prieb Revocable Trust.

J. Loyd Gattis and W. Joseph Hatley, of Spencer Fane LLP, of Kansas City, Missouri, for appellee.

Before HILL, P.J., McANANY and ARNOLD-BURGER, JJ.

Per Curiam: This case returns to this court after a prior panel issued an opinion on crediting the proceeds from a mortgage foreclosure sale. Gregory D. Prieb raises six district court errors that deal with: miscalculating the postjudgment interest rate and amount owed; failing to properly credit some payments; refusing to admit some emails and tax documents into evidence; and denying recovery for an expert's deposition fee. Our review of the record yields no reversible errors. We affirm.

1 A brief history of this business endeavor provides a context for our holdings.

In 2009, Prieb, Albert VanLerberg, and Roger Campbell formed Arbor Lake, LLC, to assume control of the property development of Prairie Star West, LLC. Arbor Lake made a commercial loan agreement with First National Bank of Olathe for $4,156,093.71. The promissory note provided for an interest rate of 4 percent in the first year, and a rate based on the Bank's prime rate thereafter. In the event of default, the promissory note stated that the annual interest rate would increase to 18 percent. The promissory note was secured by a mortgage.

Prieb, VanLerberg, and Campbell each gave personal guarantees for a "Share of the Indebtedness" of the loan to Arbor Lake. Specifically, Prieb and VanLerberg each guaranteed 25 percent of the loan and Campbell guaranteed 12.5 percent.

In 2011, the Bank sued the guarantors after Arbor Lake defaulted on its promissory note. During the litigation, the Bank entered receivership with the Federal Deposit Insurance Corporation. The FDIC assigned Arbor Lake's promissory note to Enterprise Bank & Trust.

In 2012, the district court rejected each of the guarantors' challenges to the guaranty agreements and entered total judgment against the guarantors in favor of Enterprise for $4,941,904.74, "at the rate of 18 percent per annum, calculated using a 360-day year, which is $2053.04 per day." The $4,941,904.74 reflected the unpaid principal of $4,106,086.99 plus the 18 percent daily accrued prejudgment interest of $2,053.04 on the unpaid principal.

The district court also ruled that Enterprise was entitled to $35,713.10 ($5879.30 + $29,833.80) in attorney fees for expenses incurred prior to judgment. The guarantors

2 appealed the district court's decision, arguing, inter alia, that the 18 percent default interest rate was unenforceable.

While the guarantors' appeal was pending, Arbor Lake confessed judgment to Enterprise. The district court ordered the mortgaged property sold. About six weeks later, Enterprise was the highest bidder at the sheriff's sale for $3,180,000. The district court subsequently confirmed the sheriff's sale, applied the after-tax proceeds of $3,061,120.51 to Arbor Lake's debt, and entered a deficiency judgment against Arbor Lake for the remaining amount.

Arbor Lake appealed the order confirming the sheriff's sale. The guarantors filed a separate appeal seeking to have the amount credited to Arbor Lake for the sale of the property applied to reduce their obligations under their respective guaranty agreements. Then, in 2013, this court affirmed the district court's March 2012 order in Enterprise Bank & Trust v. VanLerberg, No. 107,448, 2013 WL 1859202 (Kan. App. 2013) (unpublished opinion) (Arbor Lake I). In doing so, the panel rejected the guarantors' challenge to the enforceability of the 18 percent default interest rate in the promissory note, finding that the guarantors had contractually obligated themselves to pay this 18 percent interest by signing the guaranty agreements. 2013 WL 1859202, at *9-10.

Then, in 2014, another panel of this court considered Arbor Lake's appeal challenging the sheriff's sale (Case No. 12CV2606) and the guarantors' complaint that the district court should have applied the proceeds of the foreclosure sale to the judgments against them (Case No. 11CV1291). Arbor Lake, LLC v. Enterprise Bank & Trust, No. 109,757, 2014 WL 4723732 (Kan. App. 2014) (unpublished opinion) (Arbor Lake II). After confirming the sheriff's sale, this panel found that the district court erred by refusing to credit the proceeds from the foreclosure sale as partial satisfaction of the judgment against the guarantors or when determining each guarantor's liability based on the percentage of the loan guaranteed. 2014 WL 4723732, at *1, 9.

3 In finding the district court erred, the Arbor Lake II panel applied the merger doctrine, i.e., the principle that a contract between parties is merged into a court order rendering any right of action under the contract unenforceable because the obligations imposed are by the order, not the contract. 2014 WL 4723732, at *7. The Arbor Lake II panel concluded that Enterprise was precluded under the merger doctrine from "using the terms of the guaranty agreements to modify or construe the judgment against the guarantors" because the guaranty agreements, which governed the prejudgment interest, merged into the judgment against the guarantors and ceased to exist, resulting in a postjudgment rate of interest controlled by statute. 2014 WL 4723732, at *8 (citing Shields v. State Emp. Retirement System, 363 Ill. App. 3d 999, 1009, 844 N.E.2d 438 [2006]). The Arbor Lake II panel explained,

"What Enterprise Bank now has is a $4.9 million judgment against the guarantors subject to the judgment rule, requiring they be credited with money the bank has received in satisfaction of the economic loss the judgment remedies. . . . [T]hat includes the proceeds from the sale of the Arbor Lake property. "In addition, the judgment against the guarantors caps their liability to Enterprise Bank. That is, as the judgment reflects, each guarantor is liable for a percentage of that judgment corresponding to the percentage of the loan to Arbor Lake the guarantor agreed to repay. The judgment against the guarantors cuts off their liability for any interest accruing on the judgment against Arbor Lake and for any attorney fees Enterprise Bank incurred in efforts to enforce the judgment against Arbor Lake." 2014 WL 4723732, at *8.

On remand, Prieb and VanLerberg (Campbell settled) submitted revised proffers of satisfaction of judgment under Supreme Court Rule 186 (2015 Kan. Ct. R. Annot. 280) but primarily disagreed with Enterprise about what rate the postjudgment interest should be and how the district court should credit the proceeds from the Arbor Lake sale.

4 The district court followed our mandate.

In February 2015, after an evidentiary hearing on Enterprise's proffer, the district court issued an order resolving the parties' disputes. First, the district court rejected the guarantors' argument that it was required under K.S.A. 16-204 to apply a postjudgment interest rate of 4.75 percent. Instead, the district court found that K.S.A.

Free access — add to your briefcase to read the full text and ask questions with AI

Related

Schwartz v. Western Power & Gas Co., Inc.
494 P.2d 1113 (Supreme Court of Kansas, 1972)
Lytle v. Stearns
830 P.2d 1197 (Supreme Court of Kansas, 1992)
Morris v. Francisco
708 P.2d 498 (Supreme Court of Kansas, 1985)
Paul v. City of Manhattan
511 P.2d 244 (Supreme Court of Kansas, 1973)
TMG Life Insurance v. Ashner
898 P.2d 1145 (Court of Appeals of Kansas, 1995)
Draskowich v. City of Kansas City
750 P.2d 411 (Supreme Court of Kansas, 1988)
Wagnon v. Slawson Exploration Co.
874 P.2d 659 (Supreme Court of Kansas, 1994)
Iola State Bank v. Bolan
679 P.2d 720 (Supreme Court of Kansas, 1984)
Bell v. City of Topeka
553 P.2d 331 (Supreme Court of Kansas, 1976)
State v. Cremer
676 P.2d 59 (Supreme Court of Kansas, 1984)
Ettus v. Orkin Exterminating Co.
665 P.2d 730 (Supreme Court of Kansas, 1983)
Carnes v. Meadowbrook Executive Building Corp.
836 P.2d 1212 (Court of Appeals of Kansas, 1992)
Shields v. State Employees Retirement System
844 N.E.2d 438 (Appellate Court of Illinois, 2006)
Leffel v. CITY OF MISSION HILLS
270 P.3d 1 (Court of Appeals of Kansas, 2011)
Hall v. Shelter Mutual Insurance
253 P.3d 377 (Court of Appeals of Kansas, 2011)
State v. Raschke
219 P.3d 481 (Supreme Court of Kansas, 2009)
Wiles v. American Family Life Assurance Co.
350 P.3d 1071 (Supreme Court of Kansas, 2015)
State v. Brown
809 P.2d 559 (Court of Appeals of Kansas, 1991)
Master Finance Co. v. Pollard
283 P.3d 817 (Court of Appeals of Kansas, 2012)
Sharp v. Barker
11 Kan. 381 (Supreme Court of Kansas, 1873)

Cite This Page — Counsel Stack

Bluebook (online)
Enterprise Bank & Trust v. VanLerberg, Counsel Stack Legal Research, https://law.counselstack.com/opinion/enterprise-bank-trust-v-vanlerberg-kanctapp-2016.