Kimbro Stephens Insurance Trust and A.K. Tennessee Irrevocable Residuary Trust v. James E. Smith, Jr.; Kimberly Woodyard; And Smith Akins & Gladden, P.A.

2021 Ark. App. 127
CourtCourt of Appeals of Arkansas
DecidedMarch 17, 2021
StatusPublished
Cited by1 cases

This text of 2021 Ark. App. 127 (Kimbro Stephens Insurance Trust and A.K. Tennessee Irrevocable Residuary Trust v. James E. Smith, Jr.; Kimberly Woodyard; And Smith Akins & Gladden, P.A.) is published on Counsel Stack Legal Research, covering Court of Appeals of Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Kimbro Stephens Insurance Trust and A.K. Tennessee Irrevocable Residuary Trust v. James E. Smith, Jr.; Kimberly Woodyard; And Smith Akins & Gladden, P.A., 2021 Ark. App. 127 (Ark. Ct. App. 2021).

Opinion

Cite as 2021 Ark. App. 127 Elizabeth Perry I attest to the accuracy and ARKANSAS COURT OF APPEALS integrity of this document DIVISION II 2023.06.23 10:24:05 -05'00' No. CV-19-134 2023.001.20174 KIMBRO STEPHENS INSURANCE Opinion Delivered: March 17, 2021 TRUST AND A.K. TENNESSEE IRREVOCABLE RESIDUARY TRUST APPEAL FROM THE GARLAND APPELLANTS COUNTY CIRCUIT COURT [NO. 26CV-16-27] V.

JAMES E. SMITH, JR.; KIMBERLY HONORABLE JOHN HOMER WOODYARD; AND SMITH AKINS & WRIGHT, JUDGE GLADDEN, P.A. APPELLEES AFFIRMED; MOTION TO DISMISS DENIED

RITA W. GRUBER, Judge

The appellants, Kimbro Stephens Insurance Trust and A.K. Tennessee Irrevocable

Residuary Trust, appeal the Garland County Circuit Court’s order granting summary

judgment in favor of appellees James E. Smith, Jr. (Smith), Kimberly Woodyard

(Woodyard), and the firm Smith Akins & Gladden, P.A. (Smith-Akins). The circuit court

determined that the appellees were immune from liability under Arkansas Code Annotated

section 16-22-310 (Supp. 2019), the attorney-immunity statute, because the appellants and

the appellees were not in direct privity of contract. The circuit court also determined that

neither of the exceptions to the privity requirement—for fraud and misrepresentation and

for third-party beneficiaries of counsel’s services—applied.

On appeal, the appellants argue that the circuit court erred when it determined that

they failed to offer proof of fraud to warrant an exception to direct privity. The appellees have filed a motion to dismiss the appeal for lack of jurisdiction, and they alternatively assert

that the appeal has no merit. We deny the motion to dismiss and affirm the order granting

summary judgment.

I. Factual Background

Kimbro Stephens (Kimbro) is the beneficiary of appellant Kimbro Stephens

Insurance Trust. He was formerly a beneficiary of appellant A.K. Tennessee Irrevocable

Trust, which, following a divorce, is now exclusively for the benefit of Kimbro’s ex-wife,

Daphna Alice Stephens (Alice). Kimbro, Alice, and other members of the Stephens family

owned various entities—all using a variation of the name “Living Hope”—that provided

psychiatric services in Arkansas. The factual background of the dispute between the

appellants and the appellees involves separate federal bankruptcy cases filed by two of those

entities, Living Hope Southwest, LLC (Southwest), and Living Hope Southeast, LLC

(Southeast), which was represented by the appellees.

A. The Southwest Bankruptcy

The Southwest bankruptcy began when Pinewood Enterprises L.C. (Pinewood)

sued Southwest in the Miller County Circuit Court for overdue lease payments on a

building that Southwest rented. Pinewood’s lawsuit and other circumstances led Southwest

to file a petition for reorganization under Chapter 11 of the United States Bankruptcy Code

on July 18, 2006. The petition was filed in the United States Bankruptcy Court for the

Western District of Arkansas (Western District), and it triggered an automatic stay of

collection by Southwest’s creditors, including Pinewood.

2 After Southwest filed its petition for bankruptcy, it transferred its business to a new

company, Southeast, which Kimbro created on May 5, 2006, shortly before Southwest filed

its petition. 1 This transfer became a focal point of the Southwest bankruptcy following the

conversion of the bankruptcy petition from Chapter 11 to Chapter 7 in 2008.

The conversion to Chapter 7 led to the appointment of a bankruptcy trustee (SW

Trustee), who, in exercise of her fiduciary duty to Southwest’s creditors, initiated an adverse

proceeding (AP) against Southeast in 2009. Specifically, the trustee filed a complaint that

challenged the postpetition transfer of assets from Southwest to Southeast, alleging that

Kimbro committed postpetition fraud by transferring Southwest’s funds to Southeast and

using Southwest’s human and financial resources to operate Southeast. Later in 2009, the

SW Trustee, Southeast, and the Stephens family reached a settlement in the AP.

The AP settlement was reversed in October 2012, and shortly thereafter, the SW

Trustee filed an amended complaint in the Western District. The SW Trustee again alleged

that Southwest had made unauthorized postpetition transfers to Southeast, and she sought a

constructive trust in favor of Southwest “on a sufficient number of Southeast’s assets which

will compensate [Southwest] for the wrongful transfer of assets for the use and benefit of

Southwest and its creditors.” The Western District set the AP for trial on January 15, 2013.

According to the exhibits attached to the complaint filed in the Garland County case,

the relationship between Kimbro and the appellees began to break down shortly before the

AP trial. In an affidavit, Mike Grundy, the chief executive officer (CEO) of Southeast,

1 As a consequence of this transfer, Southeast was added as a defendant to the Pinewood lawsuit in Miller County.

3 described a December 2012 meeting in which Smith and Kimbro had a difference of

opinion regarding Southeast’s defense in the AP trial. According to Grundy, Smith

explained that it “was useless to defend the [AP] case.” Kimbro, however, wanted to put

on a defense because an adverse judgment in the AP “would be damaging to him and

[Southeast] in the upcoming trial in Miller County.” Grundy claimed that Smith remained

on the case despite twice threatening to resign during the conversation.

The minutes of a January 3, 2013 “emergency” meeting of Southeast’s board of

directors further demonstrated Kimbro’s and Smith’s differences of opinion concerning trial

strategy in the AP proceeding. The minutes indicate that Smith again recommended that

Southeast concede the case because Southeast was formed “with the financial and human

resources of [Southwest],” as the SW Trustee alleged. Rather than follow Smith’s advice,

however, Kimbro “wanted to defend the case . . . and put on witnesses and exhibits to

prove and corroborate [that] no . . . assets were transferred.” Therefore, according to the

minutes, Kimbro explained that he wanted to file a motion to intervene in the AP trial, and

Smith allegedly assured Kimbro that he would not object to the motion to intervene.

Grundy’s affidavit claimed, however, that the appellees later reneged on Smith’s

promise to stay silent. He alleged that when the AP trial convened on January 15, 2013,

Woodyard told the bankruptcy court that Southeast “was not in favor of the intervention

and that [Kimbro’s] complaint was not proper.” Grundy further alleged that the chairman

of the board, Steve Ward, subsequently attempted to terminate the appellees as Southeast’s

counsel over the allegedly reneged promise, but the bankruptcy judge “denied a motion for

continuance and allowed [the appellees] to proceed with the [AP] trial anyway.” According

4 to Grundy, Smith “then proceeded to stipulate to all 82 or so exhibits submitted by [counsel

for the SW Trustee] without consulting with [Grundy] about their relevance or accuracy.”

At the close of the AP trial, the bankruptcy judge announced that the SW Trustee

was entitled to a judgment of $1.19 million against Southeast. The judge also announced

that he was taking under advisement the issue of whether the SW Trustee was entitled to a

constructive trust on Southeast’s assets. 2

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2021 Ark. App. 127, Counsel Stack Legal Research, https://law.counselstack.com/opinion/kimbro-stephens-insurance-trust-and-ak-tennessee-irrevocable-residuary-arkctapp-2021.