La Mack v. Obeid

2015 NCBC 21
CourtNorth Carolina Business Court
DecidedMarch 5, 2015
Docket14-CVS-12010
StatusPublished

This text of 2015 NCBC 21 (La Mack v. Obeid) is published on Counsel Stack Legal Research, covering North Carolina Business Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
La Mack v. Obeid, 2015 NCBC 21 (N.C. Super. Ct. 2015).

Opinion

La Mack v. Obeid, 2015 NCBC 21.

STATE OF NORTH CAROLINA IN THE GENERAL COURT OF JUSTICE SUPERIOR COURT DIVISION MECKLENBURG COUNTY 14 CVS 12010

CHRISTOPHER LA MACK, DANTE A. MASSARO, and GEMINI REAL ESTATE ADVISORS, LLC,

Plaintiffs, ORDER AND OPINION

v.

WILLIAM T. OBEID,

Defendant.

{1} THIS MATTER is before the Court upon Defendant William T. Obeid’s

(“Obeid” or “Defendant”) Motion to Dismiss Plaintiffs Christopher La Mack (“La

Mack”), Dante A. Massaro (“Massaro”), and Gemini Real Estate Advisors, LLC’s

(“Gemini”) (collectively “Plaintiffs”) First Amended Complaint (“Motion to Dismiss”)

or Alternatively to Stay the Action (“Motion to Stay”) (collectively, the “Motions”) in

the above-captioned case.

{2} After considering the parties’ pleadings, written motions and submissions,

and arguments at the October 28, 2014 hearing, the Court hereby DENIES

Defendant’s Motion to Dismiss and GRANTS Defendant’s Motion to Stay.

McGuire Woods LLP by Robert A. Muckenfuss, Elizabeth Zwickert Timmermans, and Justin T. Yedor, for Plaintiffs Christopher La Mack, Dante A. Massaro, and Gemini Real Estate Advisors, LLC.

Smith Moore Leatherwood LLP by Robert R. Marcus and C. Bailey King, Jr., for Defendant William T. Obeid.

Bledsoe, Judge. I.

BACKGROUND

{3} The Court recites the allegations set forth in the parties’ papers that are

relevant for purposes of resolving the present Motions.1

{4} Gemini is a closely held Delaware limited-liability company with its

principal place of business in New York, New York and an office in Mecklenburg

County, North Carolina. (First Am. Compl. ¶ 3.)

{5} Gemini was formed in 2003 to “acquire, own, operate, improve, manage and

dispose of commercial real estate.” (First Am. Compl. ¶ 20; Amended and Restated

Operating Agreement of Gemini Real Estate Advisors, LLC dated February 19, 2009

(“Amended Operating Agreement”),2 Ex. D.)

{6} La Mack, Massaro, and Obeid are Gemini’s only members, with each owning

a one-third membership interest in the company. (Am. Oper. Agrmt., p. 39, Ex. A;

see also First Am. Compl. ¶¶ 17–18.)

{7} Each Plaintiff is also a manager of Gemini. (Am. Oper. Agrmt., p. 45, Ex.

C.)

1 “When reviewing a motion to dismiss for lack of subject matter jurisdiction pursuant to Rule 12(b)(1),

a trial court may consider and weigh matters outside the pleadings.” Dare County v. N.C. Dep’t of Ins., 207 N.C. App. 600, 610, 701 S.E.2d 368, 375 (2010) (alteration in original) (quoting Dep’t of Trans. v. Blue, 147 N.C. App. 596, 603, 556 S.E.2d 609, 617 (2001), disc. review denied, 356 N.C. 434, 572 S.E.2d 429 (2002)). Similarly, when deciding a motion to dismiss under Rule 12(b)(6), the Court “may properly consider documents which are the subject of a plaintiff’s complaint and to which the complaint specifically refers,” even if those documents are not attached thereto. Oberlin Capital, L.P. v. Slavin, 147 N.C. App. 52, 60, 554 S.E.2d 840, 847 (2001) (citing Robertson v. Boyd, 88 N.C. App. 437, 441, 363 S.E.2d 672, 675 (1988)).

2 Gemini’s Amended Operating Agreement is attached to Plaintiff’s Complaint and First Amended

Complaint as Exhibit A. {8} Under the Amended Operating Agreement, Obeid was appointed Gemini’s

initial Operating Manager. (See First Am. Compl. ¶¶ 22–23; Am. Oper. Agrmt. §

5.16.) As Operating Manager, Obeid was “empowered to carry out the management

and operational policies of the Company as set forth and determined by the

Managers.” (Am. Oper. Agrmt. § 5.16.) The Agreement provided that Obeid could

“act on behalf of the Company and [] execute any and all documents, instruments and

agreements . . .” with La Mack and Massaro’s approval. (See Am. Oper. Agrmt. §

5.16; First Am. Compl. ¶ 24.)

{9} Over time, each of the managers began to pursue different types of projects

based on his particular skillset and interests. In particular, Obeid focused on

hospitality projects, with an emphasis on independent and boutique hotels, while La

Mack and Massaro focused on Gemini’s retail projects, including grocery, fitness, and

department stores. Obeid alleges that over time, his projects “performed significantly

better” than La Mack and Massaro’s projects, and that his greater relative

contribution to Gemini became even more pronounced over the last five years. (Def.’s

Br. Supp. Mot., p. 4.)

{10} In mid-2013, Obeid proposed restructuring Gemini to mitigate the risks

between its retail and hospitality sectors and to allow each members’ economic

interest in Gemini to more accurately reflect his respective contribution. (Def.’s Br.

Supp. Mot., p. 5.) La Mack, Massaro, and Obeid agreed to discuss Obeid’s proposal

at a March 28, 2014 meeting. (Def.’s Br. Supp. Mot., p. 5.) At the meeting, Gemini’s

members allegedly agreed in principle to create two new LLC’s – one dedicated to Gemini’s retail business and the types of projects La Mack and Massaro had been

pursuing (the “Retail LLC”) and the other dedicated to Gemini’s hospitality business

and the types of projects Obeid had developed (the “Hospitality LLC”). (Def.’s Br.

Supp. Mot., p. 5.) Under the alleged agreement, Gemini would wholly own the Retail

LLC but only retain a 30% interest in the Hospitality LLC, with Obeid owning the

remaining 70% interest. (Def.’s Br. Supp. Mot., p. 5.)

{11} After allegedly agreeing to this new business model, however, Obeid

contends that La Mack and Massaro advised him that they wanted a “business

divorce” and to negotiate his separation from Gemini. (Def.’s Br. Supp. Mot., p. 6.)

Obeid asserts that thereafter he called a special meeting of the managers to discuss

the “business divorce” on July 1, 2014, but that at that meeting, La Mack and

Massaro, without prior notice to Obeid, voted to remove Obeid as Operating Manager

and replace him with Massaro. (Def.’s Br. Supp. Mot., p. 6; see also Pls.’ Resp. Opp.

Def.’s Mot., p. 4.)

{12} That same day, La Mack and Massaro, “individually and as members of and

on behalf of Gemini,” filed this action against Gemini and Obeid (“individually and

as a manager of Gemini”) in Mecklenburg County, North Carolina Superior Court

(the “North Carolina Action”) (Compl., pp. 1, 4; see Def.’s Br. Supp. Mot., pp. 1, 6),

purporting to allege direct and derivative claims against Obeid to recover damages

arising out of Obeid’s alleged breach of the Amended Operating Agreement, breach

of fiduciary duty, conversion, negligent misrepresentation, and unjust enrichment

(Compl. ¶ 1). {13} Contemporaneously with the filing of the Complaint, La Mack and Massaro

filed a notice of designation of this case to the North Carolina Business Court. The

case was thereafter designated a mandatory complex business case and assigned to

the undersigned on July 7, 2014.

{14} La Mack and Massaro did not attempt service of the North Carolina Action

on Obeid until approximately six weeks after filing. (Def.’s Br. Supp. Mot., p. 2.)

{15} On August 1, 2014, Obeid filed an action in the United States District Court

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