GPB Debt Holdings II, LLC v. Burroughs

CourtUnited States Bankruptcy Court, W.D. Arkansas
DecidedJune 18, 2025
Docket5:24-ap-07026
StatusUnknown

This text of GPB Debt Holdings II, LLC v. Burroughs (GPB Debt Holdings II, LLC v. Burroughs) is published on Counsel Stack Legal Research, covering United States Bankruptcy Court, W.D. Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
GPB Debt Holdings II, LLC v. Burroughs, (Ark. 2025).

Opinion

IN THE UNITED STATES BANKRUPTCY COURT WESTERN DISTRICT OF ARKANSAS FAYETTEVILLE DIVISION

In re: HUNTER MATTHEW BURROUGHS, Debtor Case No. 5:24-bk-70106 Chapter 7

GPB DEBT HOLDINGS II, LLC PLAINTIFF

v. 5:24-ap-07026

HUNTER MATTHEW BURROUGHS DEFENDANT

ORDER AND OPINION GRANTING IN PART AND DENYING IN PART MOTION FOR SUMMARY JUDGMENT On December 31, 2024, GPB Debt Holdings II, LLC [GPB] filed a motion for summary judgment and supporting brief that included a statement of undisputed material facts and exhibits. On February 28, 2025, Hunter Matthew Burroughs [Burroughs or the debtor] filed his response to GPB’s motion for summary judgment.1 On March 14, 2025, GPB filed its reply. For the reasons stated below, the Court grants in part and denies in part GPB’s motion for summary judgment.

I. Background2

1 Under General Order 37, the debtor’s response was due on January 28, 2025; however, the parties informally agreed that the debtor had until February 28, 2025, to respond.

2 The facts recited in this section were taken, largely verbatim, from GPB’s statement of undisputed material facts (Dkt. No. 26), HRD’s first amended state court counterclaim (Dkt. No. 26-3), the Order on Motion to Strike for Fraud upon the Court and for Default Judgment entered by the state court on December 28, 2020 [default judgment] (Dkt. No. 26-7), and the Agreed Final Judgment by Judge [agreed judgment] (Dkt. No. 26-9). These facts are therefore undisputed. To the extent the facts were taken directly from HRD’s counterclaim, all allegations contained therein were deemed admitted upon entry of the default judgment, as discussed infra; because the debtor did not dispute the facts in GPB’s statement of undisputed material facts, those facts are considered undisputed for purposes of summary judgment pursuant to Federal Rule of Civil Procedure 56(e) (“[i]f a party fails to properly support an assertion of fact or fails to properly address another In 2017, Burroughs owned and operated two companies, Common Compounds, Inc. [CCI] and EzPharmaRX [EZ], which he agreed to sell to Health Right Discoveries, Inc. [HRD] for $6,100,000. Burroughs and HRD memorialized the terms of the sale in a Securities Purchase Agreement dated August 17, 2017 [SPA]. The SPA provided that HRD would pay Burroughs $3,600,000 by wire transfer and execute and deliver a promissory note for the balance of the purchase price at closing. The SPA also provided that the companies would have no less than $263,400 in net working capital at closing. Additionally, the SPA contained a representation by Burroughs that the companies had not violated any federal laws, and included a non-compete agreement which prohibited Burroughs from competing, directly or indirectly, with HRD.

After the closing on September 29, 2017, a dispute arose between Burroughs and HRD regarding, among other things, the actual amount of net working capital left by Burroughs at closing. On August 18, 2018, Burroughs filed suit against HRD in the Circuit Court of the Eleventh Judicial Circuit, Miami-Dade County, Florida [Florida or state court]3 for breach of contract and other causes of action. Burroughs amended his complaint against HRD on September 25, 2018, to add a fraud claim. On February 25, 2019, HRD answered Burroughs’s first amended complaint and filed a counterclaim against Burroughs for breach of contract, breach of implied covenant of good faith and fair dealing, fraud in the inducement, and indemnification. On April 3, 2019, Burroughs filed his answer and affirmative defenses to HRD’s counterclaim. On April 29, 2020, Burroughs filed his second amended complaint against HRD and, the same day, HRD filed its first amended counterclaim against Burroughs, adding causes of action for breach

party's assertion of fact as required by Rule 56(c), the court may . . . consider the fact undisputed for purposes of the motion.”); and, the factual findings made by the state court in the default judgment are binding on this Court. See Hageman v. Barton, 817 F.3d 611, 614 (8th Cir. 2016) (“[t]he Rooker-Feldman doctrine precludes lower federal courts from exercising jurisdiction over actions seeking review of, or relief from, state court judgments.”); see also Jewell v. Lewis (In re Lewis), 637 B.R. 832, 851 (Bankr. W.D. Ark. 2022) (accepting a state court judgment “as is” and finding “[i]t is a final and binding judgment on issues directly related to the factual predicates of the [c]laimants’ effort to deny dischargeability of debt[]” under the Full Faith and Credit Act, 28 U.S.C. § 1738).

3 GPB also references the state court as the “Miami court.” of express warranties and representations, breach of confidentiality and non-compete agreements, and tortious interference with business relationships. On May 19, 2020, Burroughs filed his answer and affirmative defenses to HRD’s amended counterclaim, and on August 4, 2020, HRD filed its answer and affirmative defenses to Burroughs’s second amended complaint.

The parties engaged in considerable discovery in the state court litigation, exchanging written discovery and taking depositions. On October 24, 2019, Burroughs sat for his first deposition, during which his then-attorney advised him not to answer questions relating to his alleged breach of the confidentiality and non-compete agreements. On May 14, 2020, HRD filed a motion to compel and for sanctions, asking the state court to order Burroughs to sit for another deposition and respond to the questions he had been instructed not to answer during his first deposition. On June 7, 2020, the state court granted HRD’s motion in part and ordered Burroughs to appear for a second deposition. Between his first and second depositions, Burroughs produced documents in response to HRD’s requests for production. On September 24, 2020, Burroughs appeared for his second deposition.

Burroughs’s actions during the discovery process, his testimony at the second deposition, and his interrogatory responses resulted in HRD filing a Motion to Strike Pleadings for Fraud Upon the Court and for Default Judgment on November 2, 2020 [motion to strike] in state court. In its motion to strike, HRD alleged that Burroughs had perpetrated a widespread fraud on the state court by doctoring emails produced in response to HRD’s request for production, withholding documents responsive to HRD’s request for production, destroying evidence, giving false interrogatory responses, and committing perjury during his second deposition on September 24, 2020. On December 9, 2020, Burroughs filed an errata sheet for his September 24, 2020 deposition, in which he modified 192 of the responses he had given during his deposition. On December 15, 2020, the state court held an evidentiary hearing on the motion to strike [December 15 hearing]. Burroughs appeared with counsel at the December 15 hearing on HRD’s motion to strike. The transcript from Burroughs’s September 24, 2020 deposition and the associated errata sheet were entered into evidence by stipulation of counsel. HRD called Burroughs as a witness, but he asserted his Fifth Amendment privilege against self-incrimination and refused to answer questions. On December 28, 2020, the state court entered its Order on Motion to Strike for Fraud upon the Court and for Default Judgment [default judgment]. In the default judgment, the state court made several findings of fact related to Burroughs’s misconduct during the discovery process.

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GPB Debt Holdings II, LLC v. Burroughs, Counsel Stack Legal Research, https://law.counselstack.com/opinion/gpb-debt-holdings-ii-llc-v-burroughs-arwb-2025.