Kapitus Servicing, Inc. v. Timberline Four Seasons Utilities, Inc. and Canaan Valley Public Service District

CourtIntermediate Court of Appeals of West Virginia
DecidedOctober 30, 2023
Docket23-ica-22
StatusPublished

This text of Kapitus Servicing, Inc. v. Timberline Four Seasons Utilities, Inc. and Canaan Valley Public Service District (Kapitus Servicing, Inc. v. Timberline Four Seasons Utilities, Inc. and Canaan Valley Public Service District) is published on Counsel Stack Legal Research, covering Intermediate Court of Appeals of West Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Kapitus Servicing, Inc. v. Timberline Four Seasons Utilities, Inc. and Canaan Valley Public Service District, (W. Va. Ct. App. 2023).

Opinion

IN THE INTERMEDIATE COURT OF APPEALS OF WEST VIRGINIA

2023 Fall Term FILED _____________________________ October 30, 2023 released at 3:00 p.m. No. 23-ICA-22 EDYTHE NASH GAISER, CLERK

_____________________________ INTERMEDIATE COURT OF APPEALS OF WEST VIRGINIA

KAPITUS SERVICING, INC., Plaintiff Below, Petitioner,

v.

TIMBERLINE FOUR SEASONS UTILITIES, INC., and CANAAN VALLEY PUBLIC SERVICE DISTRICT, Defendants Below, Respondents.

________________________________________________________________________ Appeal from the Business Court Division of The Circuit Court of Tucker County Honorable Michael D. Lorensen, Judge Civil Action No. CC-47-2022-C-4

REVERSED AND REMANDED WITH DIRECTIONS ________________________________________________________________________

Submitted: October 12, 2023 Filed: October 30, 2023

Ancil G. Ramey, Esq. Martin P. Sheehan, Esq. Sarah C. Ellis, Esq. Sheehan & Associates, PLLC Benjamin McFarland, Esq. Wheeling, West Virginia Colton C. Parsons, Esq. Counsel for Respondent Timberline Four Steptoe & Johnson PLLC Seasons Utilities, Inc. Charleston, West Virginia Counsel for Petitioner John W. Cooper, Esq. Cooper & Preston, PLLC Davis, West Virginia

Jeffrey S. Zurbuch, Esq. Busch, Zurbuch & Thompson, PLLC Elkins, West Virginia Counsel for Respondent Canaan Valley Public Service District

CHIEF JUDGE GREEAR delivered the Opinion of the Court.

JUDGE LORENSEN, voluntarily recused.

Judge Jason Wharton, sitting by temporary assignment. GREEAR, Chief Judge: Petitioner, Kapitus Servicing Inc. (“Kapitus”) appeals the December 20, 2022, order

of the Business Court Division of The Circuit Court of Tucker County (“business court”)

granting Respondents, Timberline Four Seasons Utilities, Inc. (“Timberline”) and Canaan

Valley Public Service District’s (“Canaan PSD”) (collectively “respondents”) Motion to

Dismiss. 1

Having reviewed this matter, we find that the circuit court erred in granting

respondents’ motion to dismiss as res judicata precluded any other determination as to the

validity of the contractual relationship between Kapitus and Timberline following the

rulings of the United States Bankruptcy Court for the Northern District of West Virginia

(“bankruptcy court”). Accordingly, we reverse and remand this case to the business court

for further proceedings consistent with this opinion.

I. Background On April 28, 2017, Timberline voluntarily entered into a Revenue Based Factoring

Agreement (“Agreement”) with Kapitus. 2 Under this Agreement, Kapitus advanced

1 On April 11, 2022, Timberline and Canaan PSD jointly filed their 12(b)(6) motion to dismiss, alleging Kapitus had failed to state a claim upon which relief could be granted, and that the matter should be dismissed with prejudice. 2 Kapitus is an authorized servicing agent for First U.S. Funding. Based on the bankruptcy court’s order, Timberline had partial ownership of the sewer and water systems that were created in relation to the development of Timberline Ski Resort in the 1980s. This ownership interest was conveyed by the original developer, sometime after the 1 Timberline $130,000 in exchange for Timberline’s “future receipts, accounts, contract

rights and other obligations arising from or relating to the payment of monies,” and was

granted a security interest in Timberline’s personal property from its “customers and/or

third-party payors.” As part of the Agreement, Timberline made the following

representations to Kapitus:

1. Timberline was in good financial condition and not insolvent; 2. Timberline obtained all necessary governmental approvals to enter the Agreement; 3. Timberline was authorized to enter the Agreement; 4. Timberline would not enter into any other purchase or security agreements related to the purchased receivables; and 5. Timberline had good and marketable title to all purchased receivables, free and clear of all liabilities and liens.

In May of 2017, Kapitus issued full payment to Timberline. By late June of 2017,

Timberline had stopped making payments to Kapitus under the Agreement. 3 In February

of 2019, the West Virginia Public Service Commission (“PSC”) filed a petition in the

Circuit Court of Tucker County to place Timberline in receivership. The circuit court

appointed Canaan PSD as receiver for Timberline in March of 2019. According to Kapitus,

it did not receive notice of Timberline’s receivership prior to filing a civil suit against

completion of Resort to other individuals. Those individuals then transferred a portion of these utilities to Respondent Timberline Four Seasons Utilities, Inc. 3 Kapitus’ complaint alleges that Timberline breached the Agreement by only making a total of $42,794 in payments. 2 Timberline in the Commonwealth of Virginia, Hanover County on May 16, 2019, for

payments missed under the Agreement. On January 28, 2020, the Circuit Court of Hanover

County granted default judgment in favor of Kapitus against Timberline (“Virginia

judgment order”).

On March 11, 2021, Timberline filed for Chapter 11 bankruptcy protection.

Thereafter, Kapitus filed, in bankruptcy court, its initial proof of claim on May 20, 2021,

and an amended proof of claim on August 2, 2021. The amended proof of claim asserted a

secured claim against Timberline for $166,355.71 plus interest, attorneys’ fees, and any

other fees/costs. The bankruptcy court noted that Kapitus had previously perfected its

security interest by filing its financial statement on August 10, 2016, and renewed the

company’s financial statement on June 10, 2021. Timberline filed objections to both

Kapitus’ original and amended proof of claims.

On August 5, 2021, the bankruptcy court held an evidentiary hearing on

Timberline’s objections. The court overruled the objections and found that Kapitus’ claim

was supported by the Virginia judgment order. On September 8, 2021, Timberline filed a

motion to reconsider with the bankruptcy court, arguing that Hanover County lacked

jurisdiction to grant judgment against Timberline, and further asserted that the Agreement

between Kapitus and Timberline was void because it was not approved by the PSC, per

West Virginia Code § 24-2-12 (1984).

3 On October 25, 2021, the bankruptcy court issued an order setting aside the Virginia

judgment order based upon a lack of jurisdiction. As to Timberline’s objection to Kapitus’

claim, the bankruptcy court first addressed whether the Agreement was enforceable

without PSC approval. On this issue, it was determined that while West Virginia Code §

24-2-12 (1984) generally states that contracts entered into by a public utility to sell or

otherwise dispose of “franchises, licenses, permits, plants, equipment, business, or other

property” require PSC approval, there are recognized exceptions to this requirement.

Through those limited exceptions, it was concluded that the Agreement was valid

notwithstanding a lack of PSC approval. See generally In re Timberline Four Seasons

Utilities, Inc., No. 2:21-BK-00125, 2021 WL 4952613, at *6-8 (Bankr. N.D.W. Va. Oct.

25, 2021). The bankruptcy court also found that even though the Agreement was

enforceable without PSC approval, due to the fraud and misrepresentations by Timberline,

the Agreement was voidable. Specifically, the bankruptcy court concluded that:

[T]he [A]greement is voidable at Kapitus’[sic] discretion and may be enforced if it so chooses.

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Kapitus Servicing, Inc. v. Timberline Four Seasons Utilities, Inc. and Canaan Valley Public Service District, Counsel Stack Legal Research, https://law.counselstack.com/opinion/kapitus-servicing-inc-v-timberline-four-seasons-utilities-inc-and-wvactapp-2023.