Fred Smith Co. v. Smith

2025 NCBC 70
CourtNorth Carolina Business Court
DecidedNovember 14, 2025
Docket25-CVS-4428
StatusPublished

This text of 2025 NCBC 70 (Fred Smith Co. v. Smith) is published on Counsel Stack Legal Research, covering North Carolina Business Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Fred Smith Co. v. Smith, 2025 NCBC 70 (N.C. Super. Ct. 2025).

Opinion

Fred Smith Co. v. Smith, 2025 NCBC 70.

STATE OF NORTH CAROLINA IN THE GENERAL COURT OF JUSTICE JOHNSTON COUNTY SUPERIOR COURT DIVISION 25CV004428-500 FRED SMITH COMPANY, a North Carolina Corporation; FSC I, LLC, a North Carolina Limited Liability Company; FSC RANCH, LLC, a North Carolina Limited Liability Company; FSC RANCH II, LLC, a North Carolina Limited Liability Company; WALTON FARMS, LLC, a North Carolina Limited Liability Company; RWAC RENTAL, LLC, a North Carolina Limited Liability Company; RWAC RENTAL III, LLC, a North Carolina Limited Liability Company; RWAC RENTAL IV, LLC, a North Carolina Limited Liability Company; RWAC RENTAL VI, LLC, a North Carolina Limited Liability Company; RWAC RENTAL VII, LLC, a North Carolina Limited Liability Company; MINGO CREEK INVESTMENTS II, LLC, a North Carolina Limited Liability Company; MINGO CREEK INVESTMENTS III, LLC, a North ORDER AND OPINION ON Carolina Limited Liability Company; DEFENDANT’S MOTION TO BLACK & GOLD INVESTMENTS II, LLC, a North Carolina Limited DISMISS THE COMPLAINT Liability Company; LIONS SPRING HOUSING ASSOCIATES, LLC, a North Carolina Limited Liability Company; BLACKWOLF RUN III-2, LLC, a North Carolina Limited Liability Company; RIVERWOOD RANCH TOWNHOMES, LLC, a North Carolina Limited Liability Company; LIONSGATE TOWNHOMES, LLC, a North Carolina Limited Liability Company; SMITH-EDWARDS, LLC, a North Carolina Limited Liability Company; RGC 2, LLC, a North Carolina Limited Liability Company; SANS SOUCI FARM, LLC, a North Carolina Limited Liability Company,

Plaintiffs, v. VIRGINIA REID SMITH, Defendant. THIS MATTER is before the Court on Defendant Virginia Reid Smith’s

Motion to Dismiss the Complaint (“Motion to Dismiss” or the “Motion,” ECF No. 19).

Having considered the Motion, the parties’ briefs and other submissions, the

arguments of counsel, the applicable law, and all other appropriate matters of record,

the Court concludes that the Motion to Dismiss should be GRANTED for the reasons

set forth below.

K&L Gates, LLP, by A. Lee Hogewood, III, Robert B. Womble, Daniel Drew McClurg, and Derek Sutton, for Plaintiffs Fred Smith Company; FSC I, LLC; FSC Ranch, LLC; FSC Ranch II, LLC; Walton Farms, LLC; RWAC Rental, LLC; RWAC Rental III, LLC; RWAC Rental IV, LLC; RWAC Rental VI, LLC; RWAC Rental VII, LLC; Mingo Creek Investments III, LLC; Black & Gold Investments II, LLC; Lions Spring Housing Associates, LLC; Blackwolf Run III-2, LLC; Riverwood Ranch Townhomes, LLC; Lionsgate Townhomes, LLC; Smith-Edwards, LLC; RGC 2, LLC; and Sans Souci Farm, LLC.

McGuireWoods LLP, by Ryan Park, for Defendant Virginia Reid Smith.

Davis, Judge.

INTRODUCTION

1. In this case, the Court reaffirms the well-established rule in North

Carolina that a Superior Court judge lacks the authority to interfere with proceedings

in an equitable distribution action pending in District Court.

FACTUAL AND PROCEDURAL BACKGROUND

2. “The Court does not make findings of fact on the Motions. Rather, the

Court recites the allegations asserted in the Complaint that are relevant to the

Court’s determination of the Motions.” Pridgen v. Carlson, 2025 NCBC LEXIS 89, at

*2 (N.C. Super. Ct. July 25, 2025). 3. Defendant Virginia Reid Smith (“Mrs. Smith”) is a resident of New

Hanover County, North Carolina. (Compl., ECF No. 3, ¶ 105.)

4. Mrs. Smith married non-party Fred J. Smith, Jr. (“Mr. Smith”) on 9

November 1980. (Compl. ¶ 112.) Mr. and Mrs. Smith separated on or about 14 July

2024. (Compl. ¶ 113.)

5. Following their separation, Mrs. Smith initiated a lawsuit against Mr.

Smith in New Hanover County District Court seeking an equitable distribution of the

marital estate (the “ED Action”) on 18 July 2024. (Compl. ¶ 114; see also Smith v.

Smith, New Hanover Cnty. Dist. Ct. File No. 24CVD002733-640.)

6. In the ED Action, Mrs. Smith has alleged that since their separation Mr.

Smith has taken certain actions with respect to various businesses he owns or

otherwise controls that have significantly diminished the value of the marital estate.

(See generally Compl. Ex. A.)

7. On 23 June 2025, Mrs. Smith filed a motion for preliminary injunction

(the “PI Motion”) in the ED Action seeking, among other things, to enjoin Mr. Smith

from “disposing, transferring, wasting, hiding, converting, selling, pledging,

assigning, or in any manner alienating any marital or divisible assets[.]” (Compl.

¶ 129; Compl. Ex. A at 1.)

8. The PI Motion further stated the following:

[Mr. Smith] should be ordered to notify [Mrs. Smith] in writing of any proposed sale of a business entity, assignment of any membership interest, or any proposed refinance of any debt associated with a business entity, asset, or interest as soon as he learns of any prospective sale, assignment, or refinance. [Mr. Smith] should be ordered not to proceed with any such transaction without [Mrs. Smith’s] written consent or entry of any order of the Court permitting the same.

[Mr. Smith] should be enjoined from authorizing or proceeding forward with any transactions in excess of one hundred thousand dollars whether individually or associated with any business entity in which he has management control without [Mrs. Smith’s] written consent or entry of a Court order.

[Mr. Smith] should be ordered to obtain [Mrs. Smith’s] written consent or entry of a Court order prior to further encumbering any stock or other assets in [Mr. Smith’s] individual name or associated with any business entity in which he has management control.

[Mr. Smith] should be ordered to provide [Mrs. Smith] with all documents relating to potential sales or new loan agreements/refinances in a timely manner, including closing statements, loan applications, and sales contracts. [Mr. Smith] should be ordered not to proceed with the transaction without [Mrs. Smith’s] written consent or entry of any order of the Court permitting the same.

(Compl. Ex. A ¶¶ 14–17.)

9. The Plaintiffs in the present lawsuit consist of twenty companies who

are largely controlled—either directly or indirectly—by Mr. Smith. (Compl. ¶¶ 9–

100.)

10. Plaintiff Fred Smith Company (“FSC”) is a North Carolina corporation

that maintains its principal place of business in Johnston County, North Carolina.

(Compl. ¶¶ 2–3.) Mr. Smith is the sole shareholder and current President of FSC.

(Compl. ¶¶ 5–6.)

11. Plaintiffs FSC I, LLC; FSC Ranch, LLC; FSC Ranch II, LLC; Walton

Farms, LLC; RWAC Rental, LLC; RWAC Rental III, LLC; RWAC Rental IV, LLC;

RWAC Rental VI, LLC; RWAC Rental VII, LLC; Mingo Creek Investments III, LLC;

Black & Gold Investments II, LLC; Lions Spring Housing Associates, LLC; Blackwolf Run III-2, LLC; Riverwood Ranch Townhomes, LLC; Lionsgate Townhomes, LLC;

Smith-Edwards, LLC; RGC 2, LLC; and Sans Souci Farm, LLC (together with FSC,

“Plaintiffs”) are limited liability companies organized under North Carolina law that

maintain their principal places of business in Johnston County, North Carolina.

(Compl. ¶¶ 9–10, 14–15, 19–20, 24–25, 29–30, 34–35, 39–40, 44–45, 49–50, 54–55,

59–60, 64–65, 69–70, 74–75, 79–80, 84–85, 89–90, 94–95, 99–100.)

12. The following is a description of the ownership and management of each

of these entities:

a. FSC is the sole owner and manager of FSC I, LLC. (Compl.

¶¶ 12–13.)

b. Mr. Smith and one of his children are the owners of FSC Ranch,

LLC, and Mr. Smith is the manager. (Compl. ¶¶ 17–18.)

c. Mr. Smith is the sole owner and manager of FSC Ranch II, LLC.

(Compl. ¶¶ 22–23.)

d. Mr. Smith and FSC are the owners of Walton Farms, LLC, and

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Bluebook (online)
2025 NCBC 70, Counsel Stack Legal Research, https://law.counselstack.com/opinion/fred-smith-co-v-smith-ncbizct-2025.