George A. Petrakopoulos v. Gus Vranas

CourtCourt of Appeals of Georgia
DecidedNovember 21, 2013
DocketA13A1055
StatusPublished

This text of George A. Petrakopoulos v. Gus Vranas (George A. Petrakopoulos v. Gus Vranas) is published on Counsel Stack Legal Research, covering Court of Appeals of Georgia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
George A. Petrakopoulos v. Gus Vranas, (Ga. Ct. App. 2013).

Opinion

THIRD DIVISION ANDREWS, P. J., DILLARD and MCMILLIAN, JJ.

NOTICE: Motions for reconsideration must be physically received in our clerk’s office within ten days of the date of decision to be deemed timely filed. http://www.gaappeals.us/rules/

November 21, 2013

In the Court of Appeals of Georgia A13A1055. PETRAKOPOULOS et al. v. VRANAS.

MCMILLIAN, Judge.

George A. Petrakopoulos, Sam Mellas and Alpha Soda Company (“Alpha

Soda”) appeal, claiming error in the trial court’s appointment of a “receiver/special

master” and its grant of preliminary and permanent injunctive relief without the

proper notice and hearing in an action filed by Gus Vranas arising out of a business

dispute among the parties. Petrakopoulos, Mellas and Alpha Soda also appeal the trial

court’s denial of their motions for summary judgment as to certain claims for

damages asserted by Vranas in his complaint as amended. For the reasons set forth

below, we reverse the trial court’s order appointing a receiver/special master, and we

affirm in part and reverse in part the denial of summary judgment. In 1991, Mellas, Vranas, and Petrakopoulos formed a partnership known as

“MVP Investment Company” (“MVP”)1 “for the purpose of conducting the general

business of developing, buying, selling, renting and investing in real property.”2 Each

partner had a one-third share of the partnership’s profits and losses. Petrakopoulos

was named as managing partner in MVP’s “Partnership Agreement” (the “Partnership

Agreement”), which required him, inter alia, to “keep accurate books of account in

which all matters relating to the [p]artnership, including all income, expenditures,

assets, and liabilities thereof, shall be entered.” Additionally, Petrakopoulos and

Mellas were given the duties of collecting and receiving rentals on the partnership’s

1 Although MVP was named as a defendant in this lawsuit, it is not a party to this appeal. 2 We note at the outset that Vranas’s brief fails to comply with Court of Appeals Rule 25 requiring that “[r]ecord and transcript citations shall be to the volume or part of the record or transcript and the page numbers that appear on the appellate record or transcript as sent from the trial court.” (Emphasis supplied.) Instead, the brief cites to the original page numbers found on the deposition transcripts incorporated into the appellate record. This lack of compliance has greatly hampered the Court’s review, as the deposition page numbers appear at the top of the page, under the appellate record binding. Additionally, both sides, when citing to documents, failed to cite to the pages in the appellate record where those documents actually appear, instead citing to pages where such documents were discussed, further hampering our review.

2 property, paying bills and expenses incurred in the operation and management of the

property, and supervising and coordinating maintenance personnel.

The Partnership Agreement provided that the partnership was to survive until

dissolved by mutual agreement of the partners or upon other specified events. It also

provided that if a partner defaulted, a majority interest of the remaining partners could

elect, upon giving the proper notice, to terminate the defaulting partner’s interest,

“without affecting a termination of the Partnership.”3 The partners who choose to

terminate a defaulting partner’s interest are then required to purchase the terminated

partner’s interest according to a formula set out in the Partnership Agreement, either

in cash or by note, at the purchasing partners’ election.

In 1999, MVP entered into a ten-year lease with Alpha Soda (the “Lease”)

whereby Alpha Soda rented restaurant space in a building owned by MVP.

Petrakopoulos and Mellas owned Alpha Soda, and Petrakopoulos executed the Lease

both as MVP’s managing partner and as Alpha Soda’s president. Under the terms of

the Lease, Alpha Soda paid $8,000 per month for the first lease year, with a five

3 It appears that the use of the word “affecting” may have been a typographical error, and that the provision should more properly read “without effecting a termination of the Partnership.”

3 percent increase per year through the ten-year lease term. Vranas described Alpha

Soda as MVP’s “major tenant.”

In December 2008, Petrakopoulos notified Vranas that Alpha Soda was having

economic difficulties and was cutting its rent back to $6,000 per month. Under the

terms of the Lease, the monthly rent would have been around $13,000 at that time.

Vranas told Petrakopoulos that the rent reduction “[was] not right,” and he should

handle the situation “as [if] the landlord was a stranger and not us.” Vranas felt that

a $6,000 rental payment was below the market.

Despite the disagreement about Alpha Soda’s reduced rent, however, Vranas

agreed to sign a guaranty of MVP’s refinancing of a bank loan in May 2009 (the

“May 2009 Guaranty”).4 Shortly thereafter, Petrakopoulos notified Vranas that Alpha

Soda was “no longer profitable” and could no longer pay rent. And in a series of

letters and emails, Petrakopoulos asked Vranas for additional capital contributions

to pay MVP’s debts and to cover management fees he claimed were owing to him and

to his son, who had assisted him in managing the partnership.

4 The bank has not made a demand on Vranas’s guaranty, and the loan is not in default.

4 But Vranas contends that during this same period, Petrakopoulos and Mellas

were, inter alia, taking funds from MVP’s accounts without authorization, improperly

crediting Alpha Soda’s account with payments that were never made to MVP, and

paying Petrakopoulos’s son management fees and other amounts with MVP funds

without the approval of the other partners. Vranas also presented evidence that

Petrakopoulos and Mellas had not properly accounted for all of these transactions in

the partnership records.

On December 10, 2009, Petrakopoulos notified Vranas that “[due] to personal

and health reasons,” he would not longer be able to serve as MVP’s managing partner

and requested that Vranas take over the management duties. And on December 16,

2009, Petrakopoulos sent Vranas a certified letter giving him ten days to pay a capital

contribution of $51,446.73 or he would be in default, entitling Mellas and

Petrakopoulos to exercise their rights under the Partnership Agreement to buy Vranas

out.5 Vranas replied by letter dated December 28, 2009, refusing to make any

payment and asserting that the other partners were not in compliance with the

5 Nevertheless, Petrakopoulos stated that he returned Vranas’s $15,000 check sent as a capital contribution in July 2009.

5 Partnership Agreement. His letter further indicated that his partnership interest was

“up for sale.”

On March 10, 2010, Petrakopoulos, as MVP’s managing partner, sent Vranas

a letter declaring him to be in default under the Partnership Agreement and proffering

notes from Petrakopoulos and Mellas in payment for Vranas’s partnership interest.

But by letter dated March 18, 2010, Vranas notified Petrakopoulos and Mellas that

they were in default of the Partnership Agreement by failing to fulfill their duties

thereunder and that Vranas “[was] prepared to vigorously defend his interests in the

[p]artnership.” Subsequently, Mellas and Petrakopoulos had Vranas removed from

the tax records of the partnership and allegedly split Vranas’s capital account between

them.

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