Guerin v. Fox

CourtDistrict Court, D. New Hampshire
DecidedAugust 30, 1995
DocketCV-92-314-JD
StatusPublished

This text of Guerin v. Fox (Guerin v. Fox) is published on Counsel Stack Legal Research, covering District Court, D. New Hampshire primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Guerin v. Fox, (D.N.H. 1995).

Opinion

Guerin v. Fox CV-92-314-JD 08/30/95 UNITED STATES DISTRICT COURT FOR THE DISTRICT OF NEW HAMPSHIRE

Armand Guerin, et al.

v. Civil No. 92-314-JD

Richard 0. Fox, et al.

O R D E R

The plaintiffs, Ethel and Armand Guerin, filed this lawsuit

in state court to recover losses related to their possession and

operation of a business in Milan, New Hampshire. The action was

removed to federal court by the defendant, the Resolution Trust

Corporation ("RTC")a which serves as receiver for the former

defendant, HomeBank, FSB ("HomeBank"). With the exception of

defendant Arthur Dupont ("Dupont")a all other named defendants

have been dismissed by prior order or agreement of the parties.

Before the court is the RTC's motion for summary judgment on

counts seven and eight of the plaintiffs' state court writ

(document no. 44).

Background1

On or about October 15, 1985, and January 31, 1986, Richard

and Arleen Fox ("Foxes") executed two promissory notes to

HomeBank for approximately $80,000. The notes were secured by

1The court's recitation of the facts relevant to the instant motion are either not in dispute or have been alleged by the plaintiff. mortgage liens on property located in Milan, New Hampshire, and

held by HomeBank. The Milan property included a retail store and

two gasoline pumps which were operated as the Fox Country Store

and Coffee Shop.2

On or about June 15, 1987, the Foxes filed for protection

under Chapter 13 of the United States Bankruptcy Code. In

October 1987, the bankruptcy court converted the Foxes' filing to

a petition under Chapter 7 of the Bankruptcy Code.

On or about June 26, 1987, the plaintiffs and the Foxes

executed a purchase and sale agreement ("P & S") under which the

plaintiffs would purchase both the property and the business. At

that time the Foxes encouraged the plaintiffs to take possession

of the property, and to operate and invest money in the business.

Subseguent to the signing of the P & S, but prior to the

conveyance of title, the plaintiffs did, in fact, take possession

and assume operation of the coffee shop and gas station.3

According to the plaintiffs, officials from HomeBank also

encouraged them to invest in and operate the business.

Apparently, the Foxes were also indebted to the former owners of the property, Richard and Martha Holt, who held a $10,000 mortgage on the property.

3It is unclear from the record when the plaintiffs first occupied the property, although the pleadings suggest that they moved in some time prior to October 1987. See, e.g., RTC's Memorandum of Law in Support of Motion for Summary Judgment ("RTC's Memorandum of Law") at 3.

2 At the time they signed the P & S and took possession of the

property the plaintiffs were not aware that the Foxes had

previously filed for bankruptcy and, thus, did not know that

title to the property was controlled by the bankruptcy court and

could not be conveyed without court approval. See 11 U.S.C.A. §

541 (West 1993) (property interests considered part of bankruptcy

estate). Defendant Arthur Dupont, the attorney who represented

the Foxes before the bankruptcy court and during the negotiation

and execution of the P & S, neither informed the plaintiffs that

the Foxes previously had filed for bankruptcy nor suggested that

the plaintiffs retain counsel to represent their interests

relative to the P & S.

Following their occupation of the property, the plaintiffs

negotiated with HomeBank to assume the Foxes' indebtedness on the

premises. These negotiations ultimately resulted in the

preparation of a formal commitment letter by HomeBank's attorney,

which was mailed on February 22, 1989, and signed and returned by

the plaintiffs on March 3, 1989. RTC's Memorandum of Law,

attachment, correspondence from James Burns to Mr. and Mrs.

Armand Guerin ("commitment letter"). The commitment letter

provided, inter alia, that (1) the plaintiffs would assume the

balance of the Foxes' loan obligations to HomeBank; (2) all

unpaid interest on the Foxes' loans would be capitalized; (3) the

3 plaintiffs would make a $5,000 payment to the junior lienholders

(Richard and Martha Holt) for the release of their second

mortgage; (4) the plaintiffs would pay all property taxes and

municipal assessments accrued to date of closing; and (5)

Homebank would not warrant the condition of the property nor that

of any site improvements. Id.

Following execution of the commitment letter, HomeBank and

the plaintiffs jointly petitioned the bankruptcy trustee to

permit the Foxes to transfer title to the property to the

plaintiffs. RTC's Memorandum of Law at 3-4, attachment,

affidavit of Ronald Beaudoin ("Beaudoin Affidavit") at I 12. The

bankruptcy trustee denied the petition and the Foxes have never

been permitted to convey title to the plaintiffs.

The plaintiffs' difficulty with the property was compounded

on May 3, 1989, when a motor vehicle swerved off the road and

collided with the fuel pumps located in front of the country

store.4 Following a post-accident safety inspection, the Town of

Milan ordered the plaintiffs to cease use of the damaged fuel

pumps.5 The town's order, in turn, caused the plaintiffs to

4The driver of the vehicle, Timothy Kay, was a named as a defendant in the original state court writ but later was dropped as a party.

5The Town of Milan was named as a defendant in the original state court writ but later was dropped as a party.

4 breach an agreement with their fuel supplier, who ultimately

removed the pumps from the property.

Later that month the plaintiffs indicated that they no

longer desired to consummate the deal agreed upon in the

commitment letter. Instead, in a May 22, 1989, letter the

plaintiffs' attorney wrote that they were "prepared to offer the

Bank $30,000.00, which the Bank must finance, to purchase the

property 'AS IS,' which should not be unattractive to the Bank

due to the horrendous state the property is in." RTC's

Memorandum of Law, exhibit B (correspondence from Edward Beasley

to James Burns). The offer was not accepted and, since that

time, the parties engaged in various other discussions but never

finalized a financing agreement.

The plaintiffs have responded to interrogatories propounded

by the RTC. In interrogatory numbers three and four the RTC

asked:

Do you assert that you had an agreement with Homebank, FSB, or with the RTC as Receiver for HomeBank, FSB, with respect to your occupation of the premises ? If yes, what were the terms of the agreement?

Response:

Yes. We did. We dealt with Donald Heath who was a vice president of Home Bank in Gorham. He sent us a letter telling us we could buy the store and assume the mortgage (s) . We were given permission to buy the place, to move in, and to take it over. We were already in the store

5 and operating it at that time. We were informed by Mr. Gage and others that we would be able to purchase the store subject to the mortgages: also that this would reguire the approval of the Bankruptcy Court as the Foxes had filed for Bankruptcy through Arthur DuPont.

RTC's Memorandum of Law, attachment. Plaintiffs' Responses to

RTC's First Set of Interrogatories ("Plaintiffs' Responses to

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

Related

Anderson v. Liberty Lobby, Inc.
477 U.S. 242 (Supreme Court, 1986)
Samuel Mesnick v. General Electric Company
950 F.2d 816 (First Circuit, 1991)
Dinhora Quintero De Quintero v. Awilda Aponte-Roque
974 F.2d 226 (First Circuit, 1992)
Steven Wynne v. Tufts University School of Medicine
976 F.2d 791 (First Circuit, 1992)
Caledonia, Inc. v. Trainor
459 A.2d 613 (Supreme Court of New Hampshire, 1983)
Manchester Bank v. Connecticut Bank & Trust Co.
497 F. Supp. 1304 (D. New Hampshire, 1980)
Proctor v. Bank of New Hampshire, N.A.
464 A.2d 263 (Supreme Court of New Hampshire, 1983)
Munson v. Raudonis
387 A.2d 1174 (Supreme Court of New Hampshire, 1978)
Ingaharro v. Blanchette
440 A.2d 445 (Supreme Court of New Hampshire, 1982)
Hydraform Products Corp. v. American Steel & Aluminum Corp.
498 A.2d 339 (Supreme Court of New Hampshire, 1985)
Jay Edwards, Inc. v. Baker
534 A.2d 706 (Supreme Court of New Hampshire, 1987)
Island Shores Estates Condominium Ass'n v. City of Concord
615 A.2d 629 (Supreme Court of New Hampshire, 1992)
Boardman v. Cushing
12 N.H. 105 (Superior Court of New Hampshire, 1841)

Cite This Page — Counsel Stack

Bluebook (online)
Guerin v. Fox, Counsel Stack Legal Research, https://law.counselstack.com/opinion/guerin-v-fox-nhd-1995.