Miriam Equities, LLC v. Lb-Ubs 2007-C2 Millstream Rd., LLC

2021 NCBC 71
CourtNorth Carolina Business Court
DecidedNovember 1, 2021
Docket19-CVS-8523
StatusPublished

This text of 2021 NCBC 71 (Miriam Equities, LLC v. Lb-Ubs 2007-C2 Millstream Rd., LLC) 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
Miriam Equities, LLC v. Lb-Ubs 2007-C2 Millstream Rd., LLC, 2021 NCBC 71 (N.C. Super. Ct. 2021).

Opinion

Miriam Equities, LLC v. LB-UBS 2007-C2 Millstream Rd., LLC, 2021 NCBC 71.

STATE OF NORTH CAROLINA IN THE GENERAL COURT OF JUSTICE SUPERIOR COURT DIVISION GUILFORD COUNTY 19 CVS 8523

MIRIAM EQUITIES, LLC, a New Jersey Limited Liability Company,

Plaintiff,

v. ORDER AND OPINION ON DEFENDANT’S MOTION FOR LB-UBS 2007-C2 MILLSTREAM SANCTIONS ROAD, LLC, a North Carolina Limited Liability Company,

Defendant.

1. THIS MATTER is before the Court on Defendant’s Motion for Sanctions

(the “Motion”), (ECF No. 76), pursuant to Rules 26 and 37 of the North Carolina Rules

of Civil Procedure (the “Rule(s)”). After considering the Motion, Defendant’s brief in

support of the Motion, 1 arguments from counsel for both parties at a hearing held on

the Motion on 19 October 2021, and the relevant record, the Court determines that

the Motion should be GRANTED as more specifically provided below.

Revolution Law Group, by C. Scott Meyers, for Plaintiff Miriam Equities, LLC.

Kilpatrick Townsend & Stockton LLP, by James H. Pulliam and Elizabeth L. Winters, for Defendant LB-UBS 2007-C2 Millstream Road, LLC.

Earp, Judge.

1 Plaintiff’s Response in Opposition to Defendant’s Motion for Sanctions was not timely submitted and, consequently, was not considered. (Order on Pl.’s Mot. for Extension of Time ¶¶ 12–13, ECF No. 80.) FACTUAL AND PROCEDURAL BACKGROUND

2. The Complaint in this action was filed on 13 September 2019. (Compl.,

ECF No. 3.) In summary, the case is about the attempted sale of commercial property

in Guilford County, North Carolina (the “Property”) by Defendant to Plaintiff. The

sale fell through when Plaintiff failed to meet the terms required to close by 3 July

2019. Plaintiff argues that it was prevented from meeting those terms because,

contrary to their agreement, Defendant would not allow it to have access to the

Property so that it could satisfy conditions necessary to secure funding (the “Access

Right”).

3. From 25 August 2020 until a 30(b)(6) deposition on 5 August 2021,

Plaintiff has consistently responded to Defendant’s discovery requests and made

statements in its pleadings that it intended to secure a loan through Ameris Bank to

purchase the property, and that access was needed for an appraisal. However, during

Plaintiff’s 30(b)(6) deposition, Mr. Sam Sprei, Plaintiff’s corporate representative,

disavowed that plan and testified for the first time that Plaintiff’s intention was to

borrow the funds from Bernard Rubin and his partner and not from Ameris Bank (the

“alternative funding plan”). (Def.’s Suppl. Br. in Supp. of Mot. for Summ. J. Ex. 1 at

83:24–84:2, 87:25–88:4 [hereinafter “Sprei Deposition”], ECF No. 66.1.) Bernard

Rubin is the father of Jonathan Rubin, a principal in Miriam Equities, LLC. Mr.

Rubin’s partner is unidentified. Thus, Mr. Sprei testified that the requested access

was for Bernard Rubin’s appraiser, not for an appraiser from Ameris Bank. (Sprei

Deposition 80:5–81:11.) 4. Defendant objects to Plaintiff’s recent disclosure and moves to sanction

Plaintiff for failing to reveal the alternative funding plan until the very end of an

already extended discovery period. 2 The Motion requests “that Plaintiff be prohibited

from introducing any evidence in support of its new theory that Plaintiff intended to

obtain funds from Bernard Rubin, or any source other than Ameris Bank, to complete

its purchase of the Property.” (Br. in Supp. of Def.’s Mot. for Sanctions 2, ECF No.

72.)

Plaintiff’s History of Noncompliance with Discovery Rules and Orders

5. Whether Plaintiff’s Access Right was breached, and if so, whether

damages resulted, are central issues in this case. (Am. Verified Compl. ¶¶ 10–15,

ECF No. 5.) The Amended Complaint contends that the breach occurred when

Defendant refused entry to the Property for Plaintiff and Plaintiff’s agents and

contractors to “conduct[] tests[,] . . . site inspections[,] and investigations.” (Am.

Verified Compl. ¶ 10.) Consequently, the identity of the funding source and the

appraiser who was to come on site are important facts in the case. Unfortunately,

Plaintiff’s failure to abide by the rules and orders of this Court has unfairly delayed

the ability of Defendant to determine these facts.

6. “Defendant properly served its First Set of Interrogatories and Requests

for Production of Documents on Plaintiff on July 16, 2020 . . . .” (Order on Mot. to

Withdraw and Providing for Limited Modification to Current Am. Case Management

Order ¶ 6, ECF No. 40.) Relevant to this Motion, Defendant’s Interrogatory No. 2

2 As discussed infra, the Court reopened and extended discovery on the Access Right issue

because the record was underdeveloped. (ECF No. 59) asked: “Identify each person who has knowledge of the facts, allegations, and claims

asserted in your Amended Verified Complaint.” (Br. in Supp. of Def.’s Mot. for

Sanctions 2.) Interrogatory No. 6 requested that Plaintiff “[i]dentify all efforts by [it]

to borrow or otherwise secure funds to close on the Property.” (Br. in Supp. of Def.’s

Mot. for Sanctions 3.)

7. In its unverified responses served 25 August 2020, Plaintiff did not list

Bernard Rubin, or any person associated with Bernard Rubin, as individuals with

knowledge of the facts, allegations, and claims asserted in response to Interrogatory

No. 2. (Pl.’s Resps. to Def.’s First Set of Interogs. and Reqs. for Produc. of Docs. 4,

ECF No. 51.) Beyond initial objections, Plaintiff responded to Interrogatory No. 6 by

stating only that it “had a commitment from Ameris Bank. Miriam paid commitment

fees and legal fees related to the commitment from Ameris Bank.” (Pl.’s Resps. to

Def.’s First Set of Interoggs. and Reqs. for Produc. of Docs. 6.)

8. Bernard Rubin was also not identified in Plaintiff’s response to

Defendant’s requested production of “[a]ll documents and communications regarding

Plaintiff’s efforts to borrow or otherwise secure funds to close on the Property.” (Pl.’s

Resps. to Def.’s First Set of Interoggs. and Reqs. for Produc. of Docs. 13.) Moreover,

in its brief opposing summary judgment, Plaintiff continued to recognize only Ameris

Bank as the financing source for the purchase of the Property. (Pl.’s Br. in Opp. to

Def.’s Mot. for Summ. J. 7, Ex. 4, ECF No. 47) (discussing the purported loan

commitment from Ameris Bank); (Pl.’s Sur-Reply Br. 4, ECF No. 55.1) (arguing against any unfair surprise to Defendant because Plaintiff “fairly disclosed its

financing arrangements with Ameris Bank in its Answers to Interrogatory No. 6.”)

9. In fact, Plaintiff has repeatedly represented that it could not close on the

purchase of the Property without the Ameris Bank funding. (See e.g., Jonathan Rubin

Aff. ¶¶ 8, 11, ECF No. 47.3; Eli Shapiro Aff. ¶ 11, ECF No. 47.2.) In summary,

throughout this litigation and until the 30(b)(6) deposition on 5 August 2021, Plaintiff

never suggested that it had relied in any way on the alternative funding plan.

10. Plaintiff’s attempt to fault Defendant for waiting too long to conduct the

30(b)(6) deposition at which the alternative funding plan was disclosed is specious.

Defendant properly noticed Plaintiff’s Rule 30(b)(6) deposition for 24 August 2020, a

year before it ultimately took place. At Plaintiff’s urging, Defendant agreed to

reschedule the deposition to accommodate Plaintiff’s and its counsel’s schedules,

resulting in a joint motion to extend discovery.

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2021 NCBC 71, Counsel Stack Legal Research, https://law.counselstack.com/opinion/miriam-equities-llc-v-lb-ubs-2007-c2-millstream-rd-llc-ncbizct-2021.