Envirofinance Group, LLC and Earthmark Nj Kane Mitigation, llc v. Environmental Barrier Company, LLC

113 A.3d 775, 440 N.J. Super. 325
CourtNew Jersey Superior Court Appellate Division
DecidedApril 14, 2015
DocketA-2475-12 A-6202-12
StatusPublished
Cited by76 cases

This text of 113 A.3d 775 (Envirofinance Group, LLC and Earthmark Nj Kane Mitigation, llc v. Environmental Barrier Company, LLC) is published on Counsel Stack Legal Research, covering New Jersey Superior Court Appellate Division primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Envirofinance Group, LLC and Earthmark Nj Kane Mitigation, llc v. Environmental Barrier Company, LLC, 113 A.3d 775, 440 N.J. Super. 325 (N.J. Ct. App. 2015).

Opinion

NOT FOR PUBLICATION WITHOUT THE APPROVAL OF THE APPELLATE DIVISION

SUPERIOR COURT OF NEW JERSEY APPELLATE DIVISION DOCKET NO. A-2475-12T4 A-6202-12T3

ENVIROFINANCE GROUP, LLC, APPROVED FOR PUBLICATION Plaintiff-Appellant/ Cross-Respondent, April 14, 2015

and APPELLATE DIVISION

EARTHMARK NJ KANE MITIGATION, LLC,

Plaintiff,

v.

ENVIRONMENTAL BARRIER COMPANY, LLC,

Defendant-Respondent/ Cross-Appellant. ______________________________________________

Argued October 22, 2014 - Decided April 14, 2015

Before Judges Lihotz, Espinosa and St. John.

On appeal from the Superior Court of New Jersey, Chancery Division, Bergen County, Docket No. C-111-11.

Cory Mitchell Gray argued the cause for appellant/cross-respondent (Greenberg Traurig, LLP, attorneys; Mr. Gray, Robert C. Epstein and Michael R. Glanzman, on the briefs).

Paul J. Halasz (Day Pitney, LLC) and Gary H. Nunes (Womble Carlyle Sandridge & Rice, LLP) of the Virginia bar, admitted pro hac vice, argued the cause for respondent/cross- appellant (Day Pitney, LLC and Mr. Nunes, attorneys; Mr. Halasz, Mr. Nunes and Robert G. Rose, on the briefs).

The opinion of the court was delivered by

LIHOTZ, J.A.D.

In these appeals, calendared back-to-back and consolidated

for purposes of our opinion, we examine several orders, which

fix the rights of the parties. Plaintiff EnviroFinance Group,

LLC (EFG) provided construction financing to plaintiff Earthmark

NJ Kane Mitigation, LLC (Earthmark), the developer of an

environmental mitigation project to be built on Bergen County

wetlands owned by the Meadowlands Conservation Trust (MCT). The

primary contractor of the project was defendant Environmental

Barrier Company, LLC, d/b/a Geo-Con (Geo-Con).

When Geo-Con was not paid for its work, it filed two

construction liens against Earthmark's leasehold interest in the

project. Earthmark and EFG filed this action against Geo-Con,

primarily to discharge the construction liens. The motion judge

concluded Geo-Con's liens were properly asserted against the

private leasehold interest and assets of Earthmark, not against

the public realty. Geo-Con requested default and later moved

for entry of final default judgment and to fix damages against

Earthmark. EFG opposed the motion, asserting a final judgment

against Earthmark would impair its collateral interest.

Following a hearing, the judge disagreed and found EFG lacked

2 A-2475-12T4 standing to oppose determination of claims between Geo-Con and

Earthmark. A final judgment in favor of Geo-Con and against

Earthmark was entered. A second order, filed over EFG's

objection and without benefit of a testimonial hearing, required

Earthmark's payment to Geo-Con of an award of counsel fees,

costs and pre—judgment interest. The first appeal, filed by

EFG, challenges these two orders (A-2475-12). This court

declined to consider, but did not dismiss this appeal, pending

the outcome of cross-motions for summary judgment.

Reviewing the summary judgment record, the judge upheld

Geo—Con's construction liens. He also determined EFG was liable

for cure payments under the terms of its agreement with Geo-Con

and assertions made in a February 2011 correspondence, but was

not liable for additional cost overruns outlined in a September

7, 2010 contract between Geo-Con and Earthmark, or otherwise

responsible to pay claims for work performed, despite

allegations of quantum meruit. The second matter regards cross-

appeals by EFG and Geo-Con from the summary judgment orders (A-

6202-12).

Following our review, of the arguments presented, the

record on appeal and the applicable law, we affirm.

I.

MCT owns 587 acres of environmentally sensitive wetlands in

the Richard P. Kane Natural Area located in Bergen County.

3 A-2475-12T4 Earthmark was chosen as the successful bidder following the

request for proposals to construct an environmental mitigation

bank on MCT's land. A mitigation bank is "a wetland, stream, or

other aquatic resource area that has been restored, established,

enhanced, or (in certain circumstances) preserved for the

purpose of providing compensation for unavoidable impacts to

aquatic resources permitted under . . . state or local wetland

regulation."1 Mitigation banks employ a market-based approach to

preservation, placing the implementation and success of a

project on a third party in exchange for credits, which may be

sold to future developers, whose ventures in the surrounding

area may impact the protected environment. See 33 C.F.R.

§ 332.2. The proposed mitigation bank in the Richard P. Kane

Natural Area was designed to allow transportation authorities,

including New Jersey Transit, the Port Authority of New York/New

Jersey, the New Jersey Department of Transportation and the New

Jersey Turnpike Authority, to buy credits to offset wetlands

disruption by prospective development in the Meadowlands region.

Effective January 22, 2009, MCT's Board of Directors

entered into a ground lease with Earthmark to construct the

project, at Earthmark's sole cost and expense, on a portion of

1 Mitigation Banking Factsheet, United States Environmental Protection Agency, http://water.epa.gov/lawsregs/guidance/ wetlands/mitbanking.cfm (last updated Oct. 5, 2012).

4 A-2475-12T4 MCT's land. As required by the ground lease and request for

proposal, Earthmark, MCT, and the various federal and state

agencies comprising the Meadowlands Interagency Mitigation

Council, entered into the Richard P. Kane Natural Area

Mitigation Bank – Mitigation Bank Instrument (the project).

Earthmark contracted with Geo-Con to be the project's primary

contractor (construction contract).

The project was financed through a loan from EFG.

Earthmark executed a $12 million "Secured Revolving Loan and

Security Agreement" (the pledge agreement) on July 13, 2010. To

secure repayment of the construction financing, Earthmark

executed a "Pledge and Security Agreement" (the loan documents),

granting EFG collateral security, which included 100% ownership

and membership interests in Earthmark, including its leasehold

and proceeds from the sale of mitigation credits generated by

the project.

Geo-Con and EFG also entered into a Contractor Consent

Agreement (CCA), which collaterally assigned the construction

contract between Geo-Con and Earthmark to EFG. The agreement

required Geo-Con to provide notice and a cure period to EFG, in

the event Earthmark defaulted under the construction contract.

Additionally, the CCA precluded amendment or modification of the

initial Earthmark-Geo-Con construction contract, without EFG's

prior written consent.

5 A-2475-12T4 Geo-Con commenced construction on the project in April

2010. Once EFG's financing was in place, monthly loan draw

requests were submitted by Geo-Con, which certified the work

covered had been completed as required by the project documents.

EFG asserts problems in implementing the initial construction

plan arose, creating a need for additional excavating and

grading work, which caused timetable setbacks and significant

cost overruns. The nature and treatment of these issues were

delineated in a September 7, 2010 agreement between Earthmark

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113 A.3d 775, 440 N.J. Super. 325, Counsel Stack Legal Research, https://law.counselstack.com/opinion/envirofinance-group-llc-and-earthmark-nj-kane-miti-njsuperctappdiv-2015.