L. B. Benon Family Limited Partnership v. Wells Fargo Bank, N.A.

CourtDistrict Court, W.D. Texas
DecidedAugust 15, 2024
Docket5:21-cv-01115
StatusUnknown

This text of L. B. Benon Family Limited Partnership v. Wells Fargo Bank, N.A. (L. B. Benon Family Limited Partnership v. Wells Fargo Bank, N.A.) is published on Counsel Stack Legal Research, covering District Court, W.D. Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
L. B. Benon Family Limited Partnership v. Wells Fargo Bank, N.A., (W.D. Tex. 2024).

Opinion

IN THE UNITED STATES DISTRICT COURT FOR THE WESTERN DISTRICT OF TEXAS SAN ANTONIO DIVISION

L. B. BENON FAMILY LIMITED § PARTNERSHIP, BENON MARITAL § TRUST, HASSON FAMILY TRUST, § SA-21-CV-01115-XR GREENS FAMILY LIMITED § PARTNERSHIP, § Plaintiffs § § -vs- § § N.F. MGT., INC., TEXAS NAME § MERCANTILE INVESTMENT, LLC, § TEXAS NAMED LIMITED, L.P., § ANUAR NAME YAPUR, JESUS NAME § YAPUR, SIMON NAME YAPUR, § MERCANTILE BUILDING COUNCIL § OF CO-OWNERS, DOES 1-100, § Defendants §

ORDER On this date, the Court considered Defendants’ partial motion to dismiss Plaintiffs’ Third Amended Complaint (ECF No. 90), Plaintiffs’ response (ECF No. 92), and Defendants’ reply (ECF No. 93). After careful consideration, the Court GRANTS IN PART and DENIES IN PART Defendants’ motion to dismiss. BACKGROUND Plaintiffs L.B. Benon Family Limited Partnership, Benon Marital Trust, Hasson Family Trust, and Greens Family Limited Partnership (collectively, “Plaintiffs”) allege that Defendants breached their contractual and fiduciary duties in the maintenance of The Mercantile Building (“the Building”), a commercial condominium project located at 40 NE Loop 410, San Antonio, Texas. ECF No. 71.1

1 Specifically, Plaintiffs bring suit against N.F. Mgt., Inc., and Texas Name Ltd., LP, for breach of contract; against Anuar Name Yapur, Jesús Antonio Name Yapur, and Simón Name Yapur for breach of fiduciary duty; against Texas Name Mercantile Investment LLC, Anuar Name Yapur, Jesús Antonio Name Yapur, Simón Name Yapur, for Plaintiffs assert that Defendants Anuar Name Yapur, Jesús Antonio Name Yapur, and Simón Name Yapur (“the N-Y Brothers”) own Units 2–7 of the Building through one or more shell entities, including at various times Defendants Texas Name Ltd., LP (“Texas Name Ltd.”) and Texas Name Mercantile Investment LLC (“TNMI”). Id. ¶¶ 37, 41. Plaintiffs own Unit 1, the

only other unit in the Building. Id. ¶ 38. A “Condominium Declaration” and “Condominium Bylaws” control the governance of the Building. Id. ¶¶ 45–48. The Condominium Declaration establishes a Condo Association, which is vested with “the authority and responsibility . . . to maintain, repair, replace, operate, and regulate and manage the Common Elements” of the Condo Building. Id.¶¶ 54, 57. Pursuant to the Condominium Declaration, Plaintiffs (the owner of Unit 1) own a 24.465% interest in the Condo Building’s Common Elements, while Defendant TNMI (the owner of Units 2–7) owns 75.535% of the Common Elements. Id. ¶ 53. Because each unit owner is entitled to cast the number of Condo Association votes equal to the percentage of undivided interest in the Common Elements, Defendant TNMI is entitled to approximately 76% of the Condo Association

votes, and Plaintiffs are entitled to approximately 24% of the Condo Association votes. Id. ¶ 55. Plaintiffs assert that Defendant TNMI’s “approximately three-to-one advantage over Plaintiffs” renders “Plaintiffs’ votes meaningless because there is no scenario in which TNMI controls less than a supermajority of Condo Association votes.” Id. ¶ 55. Likewise, Plaintiffs allege that the structure of the Condo Association’s Board of Directors (“Condo Board”), which is composed of the three N-Y Brothers and one Plaintiffs’ representative,

conversion; and against Anuar Name Yapur, Jesús Antonio Name Yapur, Simón Name Yapur, and Texas Name Mercantile Investment LLC for civil conspiracy. Plaintiffs also bring this action for breach of fiduciary duty in the right of and on behalf of the Mercantile Building Council of Co-Owners (the “Condo Association”) as members, co- owners, partners and/or shareholders and on behalf of all other such persons and/or entities similarly situated. also provides the N-Y Defendants2 with a super majority of the Condo Board. Id. ¶ 56. The Condo Board is required to “conduct regular and special meetings according to the Bylaws” and to “employ a professional management company (‘Manager’), approved by a Majority of Owners, to perform such services and duties as set forth in the Bylaws.” Id. ¶ 58. The Condo Board is also

required to “determine” “convenient” times and places for meetings of the entire Condo Association. Id. Plaintiffs allege that the N-Y Defendants exploited their control of the Condo Association and Condo Board to commit a series of business torts. First, Plaintiffs contend that the N-Y Brothers breached their fiduciary duty of loyalty to Plaintiffs by hiring N.F. Mgt., an alleged “non- professional management company” solely owned by the N-Y Brothers, to maintain and service the Building. Id. ¶ 69, 97. On January 1, 2014, Defendants Texas Name Ltd. and N.F. Mgt. executed a Property Management Agreement that named N.F. Mgt. as the “Manager” of the Building responsible for “operating, maintaining, servicing[,], and improving” the Building pursuant to any requests by the Building’s owners. Id. Plaintiffs allege that by hiring an entity that

the N-Y Brothers owned to address all Building repairs, the N-Y Brothers created an unresolvable conflict of interest because this structure incentivizes “N.F. Mgt. to inflate its assessments and fees while minimizing its costs by doing as little and as low-quality work as possible, all while knowing that Plaintiffs are powerless to challenge this misconduct before the Condo Association or Condo Board.” Id. ¶¶ 70–71. Further, Plaintiffs allege that Defendant N.F. Mgt. breached its contractual duty to maintain and repair the Building, including the Common Elements, to the standard required by the Property

2 Plaintiffs define the “N-Y Defendants” as the N-Y Brothers and Defendants N.F. Mgt., Inc. (“N.F. Mgt.”), Texas Name Ltd., TMNI, and Does 1-50, the unknown shell entities controlled by the N-Y Brothers to allegedly conceal their assets. Management Agreement. Id. ¶ 97. Plaintiffs identify twenty-seven “necessary repairs” to the Building that Defendant N.F. Mgt. has failed to perform.3 Id. ¶ 78. Likewise, Plaintiffs assert that Defendant Texas Name Ltd. “breached its duty” to enforce the Property Management Contract and require Defendant N.F. Mgt. to perform such repairs. Id. ¶¶ 79, 97.

In addition, Plaintiffs allege that Defendants TNMI and the N-Y Brothers misappropriated and converted litigation settlement funds that should have been used to repair storm damage to the Building. Id. 71 ¶ 80. Following a 2016 hailstorm that severely damaged the roof of the Building, Defendant TNMI filed a claim against the Building’s insurer, Cincinnati Insurance Company. Id. 71 ¶ 81. In 2018, Defendant TNMI resolved the lawsuit for approximately $867,000 after attorneys’ fees. Id. ¶ 82. Defendant TNMI then spent $230,000 of the settlement on repairs to the Building and allegedly either pocketed the remainder or transferred it to the N-Y Brothers, despite the fact that this settlement resulted from the insurer’s failure to pay for repairs to the General Common Elements of the Building. Id. ¶¶ 80–83. In doing so, the N-Y Brothers, acting in their roles as the sole owners and directors of TNMI, allegedly converted Plaintiffs’ personal property

and engaged in a civil conspiracy. Id. ¶¶ 82–83, 163–68.

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Bluebook (online)
L. B. Benon Family Limited Partnership v. Wells Fargo Bank, N.A., Counsel Stack Legal Research, https://law.counselstack.com/opinion/l-b-benon-family-limited-partnership-v-wells-fargo-bank-na-txwd-2024.