Hecht v. Equity Trust Co.

2022 Ohio 198
CourtOhio Court of Appeals
DecidedJanuary 27, 2022
Docket110380 & 110650
StatusPublished
Cited by3 cases

This text of 2022 Ohio 198 (Hecht v. Equity Trust Co.) is published on Counsel Stack Legal Research, covering Ohio Court of Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Hecht v. Equity Trust Co., 2022 Ohio 198 (Ohio Ct. App. 2022).

Opinion

[Cite as Hecht v. Equity Trust Co., 2022-Ohio-198.]

COURT OF APPEALS OF OHIO

EIGHTH APPELLATE DISTRICT COUNTY OF CUYAHOGA

DOUGLAS HECHT, :

Plaintiff-Appellant, : Nos. 110380 and 110650 v. :

EQUITY TRUST COMPANY, :

Defendant-Appellee. :

JOURNAL ENTRY AND OPINION

JUDGMENT: AFFIRMED IN PART, REVERSED IN PART, AND REMANDED RELEASED AND JOURNALIZED: January 27, 2022

Civil Appeal from the Cuyahoga County Court of Common Pleas Case No. CV-20-941979

Appearances:

Matthew Gilmartin, Attorney at Law, LLC, and Matthew Gilmartin, for appellant.

Ulmer & Berne LLP, Paul R. Harris, and Kathryn Bartolomucci, for appellee.

MARY J. BOYLE, J.:

Plaintiff-appellant, Douglas Hecht (“Hecht”), appeals the trial court’s

orders (1) denying Hecht’s motion for an extension of time to respond to defendant-

appellee, Equity Trust Company’s (“Equity Trust”), motion to dismiss Hecht’s complaint for failure to state a claim upon which relief can be granted; (2) granting

Equity Trust’s motion to dismiss Hecht’s complaint; and (3) denying Hecht’s motion

for relief from judgment.

For the reasons set forth below, we affirm the trial court’s order

denying Hecht’s motion for an extension of time to respond to Equity Trust’s motion

to dismiss, reverse the trial court’s order granting Equity Trust’s motion to dismiss,

and remand to the trial court to convert the motion to dismiss to a motion for

summary judgment, after giving the parties notice.

On December 23, 2020, Hecht filed a complaint against Equity Trust,

alleging breach of contract (Count 1) and breach-of-fiduciary duty (Count 2). Hecht

avers that Equity Trust, the custodian of Hecht’s individual retirement account

(“IRA”), did not timely or correctly process Hecht’s deposit and payment directives,

which resulted in late fees and diminished value of the IRA. Hecht avers that these

oversights constituted a breach of the parties’ custodial-account agreement and a

breach of Equity Trust’s fiduciary duty to Hecht.

On February 1, 2021, Equity Trust filed a motion to dismiss Hecht’s

complaint pursuant to Civ.R. 12(B)(6). Equity Trust attached to its motion two

copies of the custodial-account agreement, one signed and dated

December 21, 2012, (“2012 Agreement”) and the other unsigned and bearing a

revision date of December 2017 (“2017 Agreement”). A provision of the

2012 Agreement provides for periodic amendment: We have the right to amend this Agreement at any time. Any amendment we make to comply with the Code and related Regulations does not require your consent. You will be deemed to have consented to any other amendment unless, within 30 days from the date we mail the amendment, you notify us in writing that you do not consent.

Equity Trust points to the 2017 Agreement as one such amendment. The

2017 Agreement provides in pertinent part:

You agree that any claim or cause of action against custodian arising out of or relating in any way to this agreement or our role as custodian must be file[d] within one (1) year after the claim or cause of action accrued, or the shortest duration permitted under applicable law if such period is greater than one (1) year. You agree to waive any statute of limitation[s] to the contrary.

(Emphasis deleted.) Equity Trust contends that this one-year limitations provision

bars Hecht’s claims because Hecht alleged in his complaint that the parties’

contractual relationship ended in March 2018, yet Hecht filed his complaint in

December 2020, outside the agreed-upon limitations period. Equity Trust also

argues that Hecht’s complaint fails to allege the essential elements of breach of

contract and breach-of-fiduciary duty.

On February 19, 2021, Hecht moved for an extension of time to

respond to Equity Trust’s motion to dismiss, which contained a stipulation by both

parties that Hecht would have until February 22, 2021, to respond to Equity Trust’s

motion to dismiss and that the parties had agreed to stay discovery until the trial

court ruled on Equity Trust’s motion.

On February 23, 2021, the trial court granted Equity Trust’s motion

as “unopposed in its entirety.” In its journal entry, the trial court acknowledged that

“in resolving a Civ.R. 12(B)(6) motion, a court is confined to the averments set forth in the complaint and cannot consider outside evidentiary materials unless the

motion is converted into one for summary judgment under Civ.R. 56.” The trial

court found that Hecht “can prove no set of facts in support of his claim[s] which

would entitle him to relief.” The trial court dismissed Hecht’s complaint with

prejudice.

Later that same day, February 23, the trial court denied Hecht’s

motion for extension of time to respond to Equity Trust’s motion to dismiss. The

trial court observed that Hecht had until February 16, 2021, to file his response to

the motion or request leave for additional time to respond and had “failed to do

either.”1

On March 24, 2021, Hecht moved for relief from judgment and filed

a notice of appeal in Hecht v. Equity Trust Co., 8th Dist. Cuyahoga No. 110380, the

following day. On March 26, 2021, the trial court stayed proceedings pending the

appeal. On April 26, 2021, this court remanded the matter to the trial court for the

sole purpose of ruling on Hecht’s motion for relief from judgment. On

June 23, 2021, the trial court denied the motion stating that Hecht missed both the

initial February 16, 2021 and stipulated February 22, 2021 deadlines to respond to

Equity Trust’s motion to dismiss and had failed to request leave to respond. On

July 12, 2021, Hecht filed a second notice of appeal, which is the matter currently

before the court.

1The trial court was closed on February 15, 2021, 14 days after service, in observance of Presidents’ Day. Hecht’s March 25 and July 12 appeals were consolidated for

disposition. Hecht raises the following five assignments of error, which we shall

discuss together where appropriate:

ASSIGNMENT OF ERROR ONE

The Common Pleas Court erred in denying Douglas A. Hecht an extension to respond to [Equity Trust’s] 12(B)(6) Motion because Hecht was still within his time to oppose the motion.

ASSIGNMENT OF EROR TWO

The Common Pleas Court erred in granting [Equity Trust’s] 12(B)(6) Motion because it relied on matters outside of the record and thus violated Civ.R. 12(B).

ASSIGNMENT OF ERROR THREE

The Common Pleas Court erred in denying Hecht’s motion for relief from judgment to set aside the judgment per Civ.R. 60(B) because counsel to Hecht was not neglectful in filing for an extension of time or in filing a brief in opposition to [Equity Trust’s] motion to dismiss.

ASSIGNMENT OF ERROR FOUR

The Common Pleas Court erred in denying Hecht’s motion to set aside the judgment pursuant to Civ.R. 60(B) because even had counsel to Hecht been neglectful in filing for an extension of time or in filing an opposition to [Equity Trust’s] 12(B)(6) motion to dismiss, the neglect was excusable.

ASSIGNMENT OF ERROR FIVE

The Common Pleas Court erred in denying Hecht’s motion to set aside the judgment pursuant to Civ.R. 60(B) because Hecht had multiple meritorious claims and defenses to assert against [Equity Trust’s] 12(B)(6) motion to dismiss.

Extension of Time

In his first assignment of error, Hecht claims that the trial court erred

in denying his request for an extension of time to respond to Equity Trust’s motion to dismiss.

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