In re: FRANK LANE ITALIANE, JR. andALICIA ITALIANE

CourtUnited States Bankruptcy Appellate Panel for the Ninth Circuit
DecidedOctober 4, 2021
DocketEC-20-1247-SGF
StatusPublished

This text of In re: FRANK LANE ITALIANE, JR. andALICIA ITALIANE (In re: FRANK LANE ITALIANE, JR. andALICIA ITALIANE) 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: FRANK LANE ITALIANE, JR. andALICIA ITALIANE, (bap9 2021).

Opinion

FILED ORDERED PUBLISHED OCT 4 2021 SUSAN M. SPRAUL, CLERK U.S. BKCY. APP. PANEL OF THE NINTH CIRCUIT

UNITED STATES BANKRUPTCY APPELLATE PANEL OF THE NINTH CIRCUIT

In re: BAP No. EC-20-1247-SGF FRANK LANE ITALIANE, JR. and ALICIA ITALIANE, Bk. No. 1:11-bk-63503 Debtors. Adv. No. 1:12-ap-01053 FRANK LANE ITALIANE, JR., Appellant, v. OPINION JEFFREY CATANZARITE FAMILY LIMITED PARTNERSHIP; ERON MARTIN; WOLFGANG GREINKE, Trustee of the Greinke Family Trust; WESLEY LARSEN; BRIAN HICKS, Trustee of the Hicks Family Trust U/D/T 10/01/2001; STEVEN NAZAROFF, Trustee of the Steven Nazaroff Retirement Trust; THE NAZAROFF FAMILY PARTNERSHIP; TRICIA PRENTICE; ROBERT STROHBACH, Trustee of the Strohbach Living Trust; CATHY GALIE- LEWIS; LEASON V. “CHET” LEEDS, Trustee of the Leason V. Leeds Trust; LYNAE ARNOLD; LIZ MALONE, Trustee of the Malone Family Trust, Appellees.

Appeal from the United States Bankruptcy Court for the Eastern District of California Rene Lastreto, II, Bankruptcy Judge, Presiding

APPERANCES: Appellant Frank Lane Italiane, Jr. argued pro se; Joseph Scott Klapach of Klapach & Klapach, P.C. argued for appellees.

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

Opinion by Judge Spraker Concurrence by Judge Faris

SPRAKER, Bankruptcy Judge.

INTRODUCTION

Chapter 7 1 debtor Frank Lane Italiane, Jr. (“Lane”) appeals from a

judgment excepting a $1.5 million judgment from discharge under

§ 523(a)(2)(A). During trial in the state court action, Lane consented to

entry of the judgment on the claim of fraudulent concealment in favor of

investors he induced to invest in his roofing products company. The

bankruptcy court determined that the stipulated judgment for fraudulent

concealment should be given issue preclusive effect entitling the plaintiff

investors to summary judgment on their § 523(a)(2)(A) claim for relief.

The circumstances surrounding the state court’s entry of the

stipulated judgment support the application of issue preclusion in this

case. Accordingly, we AFFIRM.

Unless specified otherwise, all chapter and section references are to the 1

Bankruptcy Code, 11 U.S.C. §§ 101–1532.

2 FACTS2

A. Lane’s involvement with ArmorLite Roofing, LLC.

Lane formed ArmorLite Roofing, LLC (“ArmorLite”) in 2004 to

develop, produce, and sell a patented high-tech roofing system that was

both very durable and highly fire resistant. He also served as an officer,

director, and manager. In those capacities, he “materially assisted” in the

preparation of “Offering Materials” for ArmorLite. Lane and ArmorLite

developed the Offering Materials for the purpose of persuading others to

invest in the company. Lane knew the Offering Materials would be used

for that purpose; he reviewed, revised, and approved the Offering

Materials. He also made oral representations to prospective and existing

investors at public meetings.

In 2008, Lane suffered a severe stroke. He partially recovered from

the mental disabilities he experienced after a very long convalescence. As a

result of his illness, he stepped down as president and chief executive

officer of ArmorLite.

In 2009, ArmorLite’s board of directors elected to file bankruptcy for

the company. According to plaintiffs, ArmorLite went bankrupt because it

failed to convert its successful prototypes into a product that could be mass

produced and sold at a competitive price. In contrast, Lane insisted that

ArmorLite’s patented, high-tech, fire-resistant roofing product was

2 We exercise our discretion to take judicial notice of documents electronically filed in the bankruptcy case and in plaintiffs’ nondischargeability action. See Atwood v. 3 “market ready” and that ArmorLite’s failure was a product of the Great

Recession and his illness. Lane also attributed the company’s problems to

the mismanagement and hostile takeover machinations of ArmorLite’s

reconstituted board of directors, which included some of the plaintiffs.

B. ArmorLite’s investors sue Lane.

In February 2010, plaintiffs filed a complaint in the Los Angeles

County Superior Court against Lane and others for, among other things,

securities fraud under California law, fraudulent misrepresentation,

fraudulent nondisclosure, and conspiracy to commit fraud. Plaintiffs

claimed that Lane fraudulently induced them to acquire roughly $2.4

million in membership interests in ArmorLite based on his affirmative

misrepresentations and nondisclosure of material facts regarding

ArmorLite’s roofing product. The alleged misrepresentations included:

(1) that ArmorLite had fully developed a patented, high-technology

roofing system that had obtained a Class “A” fire rating — the highest fire

resistance rating available; and (2) that ArmorLite was ready to market its

Class “A” rated product to contractors and the general public. Plaintiffs

additionally alleged that Lane fraudulently failed to disclose that

ArmorLite had changed the formula for ArmorLite’s roofing product and

that the product as modified had not been tested before being mass

produced and marketed. Plaintiffs maintained that the modified roofing

product ultimately failed to pass the Class “A” rating test when a testing

Chase Manhattan Mortg. Co. (In re Atwood), 293 B.R. 227, 233 n.9 (9th Cir. BAP 2003). 4 agency later audited the product. Years of litigation followed, including

discovery and motion practice.

C. Lane files for bankruptcy and the state court action proceeds to trial.

In December 2011, in the midst of this litigation, Lane filed his

chapter 7 bankruptcy case. Plaintiffs timely filed their nondischargeability

adversary proceeding under § 523(a)(2)(A) based largely on the same

allegations stated in their state court action. The bankruptcy court sua

sponte entered an order abstaining from adjudicating Lane’s liability for

fraud based on its conclusion that “it appears that the State Court Action

arises out of the same set of facts and includes essentially the same claims

for relief as pled in the adversary proceeding.” The bankruptcy court

granted relief from stay to permit plaintiffs to litigate their fraud claims to

final judgment in the state court. The court specifically noted in its

abstention order that the nondischargeability action would resume if

necessary to determine the dischargeability of any fraud judgment

plaintiffs might obtain from the state court. The bankruptcy court further

noted that, if the nondischargeability action resumed, it might then

consider applying issue preclusion to the state court’s findings of fact and

conclusions of law if appropriate.

The parties resumed their state court litigation. In September 2013,

the state court denied plaintiffs’ motion for summary judgment against

Lane. As part of the motion, the state court considered extensive evidence

5 presented by both sides. It initially observed that plaintiffs had established

a prima facie case of securities fraud under California law. The court

explained that the burden then shifted to Lane to establish the existence of

a triable issue of material fact. After considering Lane’s evidence, the court

ultimately concluded that there was a triable issue as to whether he made

any material misrepresentations or omissions.

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In re: FRANK LANE ITALIANE, JR. andALICIA ITALIANE, Counsel Stack Legal Research, https://law.counselstack.com/opinion/in-re-frank-lane-italiane-jr-andalicia-italiane-bap9-2021.