In re: Debbie Reid O'Gorman

CourtUnited States Bankruptcy Appellate Panel for the Ninth Circuit
DecidedMarch 6, 2024
Docket23-1043
StatusUnpublished

This text of In re: Debbie Reid O'Gorman (In re: Debbie Reid O'Gorman) is published on Counsel Stack Legal Research, covering United States Bankruptcy Appellate Panel for the Ninth Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
In re: Debbie Reid O'Gorman, (bap9 2024).

Opinion

NOT FOR PUBLICATION FILED MAR 6 2024 UNITED STATES BANKRUPTCY APPELLATE PANEL SUSAN M. SPRAUL, CLERK OF THE NINTH CIRCUIT U.S. BKCY. APP. PANEL OF THE NINTH CIRCUIT

In re: BAP No. NC-23-1043-BSG DEBBIE REID O'GORMAN, Debtor. Bk. No. 21-10374-RLE

GRANT REYNOLDS REVOCABLE LIVING TRUST, Appellant, v. MEMORANDUM∗ TIMOTHY W. HOFFMAN, Chapter 7 Trustee, Appellee.

Appeal from the United States Bankruptcy Court for the Northern District of California Roger L. Efremsky, Bankruptcy Judge, Presiding

Before: BRAND, SPRAKER, and GAN, Bankruptcy Judges.

INTRODUCTION

Appellant, the Grant Reynolds Revocable Living Trust, appeals an order

sustaining the chapter 7 1 trustee's objection to the trust's secured claim filed

by Grant Reynolds, the trustee of the trust.2 The bankruptcy court determined

∗ This disposition is not appropriate for publication. Although it may be cited for

whatever persuasive value it may have, see Fed. R. App. P. 32.1, it has no precedential value, see 9th Cir. BAP Rule 8024-1. 1 Unless specified otherwise, all chapter and section references are to the Bankruptcy

Code, 11 U.S.C. §§ 101-1532, and all "Rule" references are to the Federal Rules of Bankruptcy Procedure. 2 We refer to the trust and Mr. Reynolds as "Reynolds."

1 that Reynolds failed to prove a secured claim in any amount and disallowed

the claim in its entirety. Seeing no reversible error, we AFFIRM.3

FACTS

A. Events leading to Reynolds's claim

Debtor Debbie Reid O'Gorman held title to real property in Calistoga,

California ("Property"). At one point, O'Gorman believed that the City of

Calistoga had violated her water rights. In 2007, Reynolds began researching

the matter for which O'Gorman paid him $5,000 per month "for many

months."

Deciding to pursue litigation, on January 1, 2008, O'Gorman, Matthew

Hickerson (her significant other), and Jeffrey Bounsall entered into an

agreement that they would share in any recovery from the water rights

litigation ("2008 Agreement"). The 2008 Agreement stated that O'Gorman and

Hickerson paid Reynolds $5,500 to further investigate the water rights claims

and that Bounsall had to either contribute his 49% share of Reynolds's fee

($2,695) or reimburse O'Gorman and Hickerson for the $5,500.

On June 1, 2010, O'Gorman signed a promissory note ("2010 Note") and

a second deed of trust ("2010 DOT") in favor of Reynolds (together, the "2010

Note and DOT"). The 2010 Note provided that O'Gorman, "for value

received," promised to pay Reynolds $4 million together with interest at 3% in

3 Prior to oral argument scheduled for September 28, 2023, the parties requested a 60-day continuance to finalize a proposed settlement, which the Panel granted, and the matter was taken off calendar. Ultimately, settlement negotiations failed. However, we conclude that this case is suitable for decision without oral argument. See 9th Cir. BAP Rule 8019-1. 2 one lump sum on June 1, 2015. The 2010 Note was secured by the 2010 DOT

against the Property. The 2010 DOT stated that it was for the purpose of

securing the payment of $4 million made by Reynolds to O'Gorman, and any

additional sums loaned to O'Gorman when evidenced by a promissory note

stating that it was secured by the 2010 DOT. Reynolds never lent $4 million to

O'Gorman.

In 2012, O'Gorman wrote a letter to Reynolds ("2012 Letter")

acknowledging that he had "not been paid in quite a while" and that he had to

mortgage his home to continue funding the water rights litigation. O'Gorman

promised Reynolds that he would be reimbursed once everything was over

and that the amount owed would be secured by the 2010 DOT.

In 2013, Reynolds, O'Gorman, Hickerson, and the Kinnamans (assignees

of Bounsall) signed an agreement ("2013 Proceeds Agreement") which

provided that the parties would share any recovery in the water rights

litigation as follows: one third to O'Gorman and Hickerson; one third to

Reynolds; and one third to the Kinnamans.

The plaintiffs were unsuccessful in the water rights litigation; the City of

Calistoga prevailed.

In 2019 and 2020, to prevent Mr. Cooper, the first lienholder, from

foreclosing on the Property, Reynolds cured O'Gorman's defaults on her

indebtedness to Mr. Cooper totaling approximately $180,000. O'Gorman does

not dispute that Reynolds paid at least this amount to Mr. Cooper on her

behalf. During this time, and unbeknownst to Reynolds or Mr. Cooper,

3 O'Gorman transferred her interest in the Property into an irrevocable trust to

prevent Reynolds from completing the foreclosure he commenced in 2020.

O'Gorman filed a chapter 7 bankruptcy case on August 19, 2021.

Timothy W. Hoffman ("Trustee") was appointed as the chapter 7 trustee.

O'Gorman valued the Property at $2.9 to $3 million, which was subject to Mr.

Cooper's lien for $800,000. O'Gorman scheduled Reynolds as a secured

creditor but disputed his alleged secured claim for $1.5 million.

Despite receiving notice of O'Gorman's chapter 7 filing, Reynolds

proceeded with a foreclosure sale for the Property on August 20, 2021. He was

the successful bidder with a credit bid of $1,499,414.78.

B. The claim objection

Reynolds filed a $1,493,674.13 secured proof of claim for what he

described as "services performed, money loaned." Attached were copies of the

2010 Note and DOT and the assignment of both documents from Mr.

Reynolds to his trust.

Trustee objected to Reynolds's secured claim in its entirety. He argued

that the 2010 Note and DOT did not reference any agreement to render

services as Reynolds contended, or to any obligation other than the $4 million

loan that was never made. Although Reynolds asserted that O'Gorman was

obligated to pay him $5,500 per month for providing years of services in the

water rights litigation, he produced no written agreement evidencing that

obligation. And other than the 2010 Note, argued Trustee, there were no

additional notes that could be secured by the 2010 DOT. While the 2012 Letter

4 acknowledged an unpaid debt to Reynolds that would be secured by the 2010

DOT, O'Gorman did not quantify its amount, the basis for the debt, or the

source for repayment. Finally, Trustee argued that the 2013 Proceeds

Agreement could not be the basis for any claim, because the water rights

litigation did not result in any recovery.

Reynolds opposed Trustee's claim objection. He contended that the 2010

Note and DOT functioned like an attorney's charging lien and was not a loan.

Reynolds argued that O'Gorman owed him for various debts which he

contended were secured by the 2010 DOT, including: (1) $774,411.05 for his

litigation services ($5,500 per month @ 3% interest for 10 years); (2) $200,000

for the loan he took out to pay Mr. Cooper; (3) $274,000 for his income taxes

due going forward from September 2012; and (4) $16,100 for property tax

payments he made on O'Gorman's behalf.

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