MSMTBR, Inc., and Russell David Balusek v. Mid-Atlantic Finance Co., Inc.

CourtCourt of Appeals of Texas
DecidedJuly 24, 2014
Docket01-12-00501-CV
StatusPublished

This text of MSMTBR, Inc., and Russell David Balusek v. Mid-Atlantic Finance Co., Inc. (MSMTBR, Inc., and Russell David Balusek v. Mid-Atlantic Finance Co., Inc.) is published on Counsel Stack Legal Research, covering Court of Appeals of Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
MSMTBR, Inc., and Russell David Balusek v. Mid-Atlantic Finance Co., Inc., (Tex. Ct. App. 2014).

Opinion

Opinion issued July 24, 2014

In The

Court of Appeals For The

First District of Texas ———————————— NO. 01-12-00501-CV ——————————— MSMTBR, INC. AND RUSSELL DAVID BALUSEK, Appellants V. MID-ATLANTIC FINANCE CO., INC., Appellee

On Appeal from the 190th District Court Harris County, Texas Trial Court Case No. 2011-30123

MEMORANDUM OPINION ON REHEARING

Appellee, Mid-Atlantic Finance Co., Inc. (“Mid-Atlantic”), has filed a

motion for rehearing of our March 11, 2014 opinion and judgment. We deny the motion for rehearing, but withdraw our opinion and judgment of March 11, 2014

and issue the following opinion and a new judgment in their stead.

Appellants, MSMTBR, Inc. and Russell David Balusek (collectively,

“MSMTBR”), challenge the trial court’s rendition of summary judgment in favor

of Mid-Atlantic in its suit against MSMTBR for conversion and recovery under the

Texas Theft Liability Act (“TLA”).1 In three issues, MSMTBR contends that the

trial court erred in granting Mid-Atlantic summary judgment on its conversion and

TLA claims.

We reverse and remand.

Background

On October 30, 2009, Mid-Atlantic, a finance company in the business of

purchasing installment sales contracts from automobile dealers, entered into a Flex

Line Program Agreement (the “Agreement”) with MSMTBR to purchase certain

automobile installment sales contracts. Pursuant to the Agreement, MSMTBR,

after executing an automobile installment sales contract with a customer, would

present the contract to Mid-Atlantic for consideration. If Mid-Atlantic approved

the contract, MSMTBR and Mid-Atlantic would then agree to a purchase price,

through a “Decision Callback,” and Mid-Atlantic would buy the contract. Mid-

Atlantic would make an initial cash advance to MSMTBR and then make

1 See TEX. CIV. PRAC. & REM. CODE ANN. §§ 134.001–.005 (Vernon 2011). 2 additional payments to MSMTBR as the consumer performed on the installment

sales contract. If the consumer defaulted on the contract within six months, Mid-

Atlantic could recover its losses by repossessing and selling the automobiles or

demanding that MSMTBR repurchase the installment sales contract. If the

consumer defaulted on the contract after the sixth month, the Agreement provided

for a “Bonus Pool” to be “used to satisfy expenses” and “deficiency balances” at

Mid-Atlantic’s “discretion.”

Once Mid-Atlantic purchased an installment sales contract, “all rights under

the Contract immediately transferred to Mid-Atlantic,” and it became the “lawful

owner thereof, free and clear of all claims, liens or encumbrances whatsoever.”

And after the transaction was processed by the Texas Department of Motor

Vehicles (“DMV”), MSMTBR was obligated to deliver the original title to Mid-

Atlantic to “hold” the title.

In connection with the Agreement, MSMTBR also granted Mid-Atlantic a

“Limited Power of Attorney,” authorizing Mid-Atlantic as

our true and lawful attorneys for us and in our names, place and stead, and for our use and benefit, to ask, demand, sue for, recover, collect and receive all sums of money, debts, due accounts, interest, and demands whatsoever as are now or shall hereafter become due, owing, payable or belonging to [MSMTBR] solely with respect to the Contracts specifically set forth in Schedule A.

And it further authorized Mid-Atlantic to

3 have, use and take all lawful ways and means in [MSMTBR’s name] or otherwise for the recovery thereon, by attachment, distress or otherwise, and to compromise and agree for the same, and in [MSMTBR’s] name[] to make, seal and deliver all instruments necessary for said premises: to bargain, contract for, agree, receive and take possession of all security . . . .

In its original petition, Mid-Atlantic alleged that after it had purchased

eighty-two automobile installment sales contracts under the Agreement and was

holding titles to the automobiles to protect its security interests, MSMTBR applied

for and received substitute titles to fifty-one of the automobiles. In regard to some

of the automobiles, MSMTBR “converted the collateral for its own benefit and use

by repossessing the collateral and reselling it.” On one contract, MSMTBR

collected “insurance proceeds from a casualty loss of the collateral.” Mid-Atlantic

demanded return of the titles, but MSMTBR refused. Mid-Atlantic further alleged

that, upon its purchase of the installment sales contracts at issue, it became “the

legal owner . . . together with all rights under the[] Contracts, including the right to

receive payments, the right to hold title, the right to be designated the lienholder on

the title, and all rights to any collateral securing payment under the Contracts.” At

the time it filed suit, Mid-Atlantic had purchased the eighty-two contracts for an

agreed price of $364,498.27, of which $234,526.94 was “paid immediately, with

the balance becoming due if the underlying Contracts performed for an agreed-

upon period.”

4 Mid-Atlantic sought damages from MSMTBR in the amount of the fair

market value of the collateral, or $294,525, for conversion and recovery under the

TLA, which provides that a person who commits theft “is liable for the damages

resulting from the theft.”2 Mid-Atlantic also sought a statutory penalty of $1,000

for each instance of theft. For those automobiles that MSMTBR did not transfer

title to a third party, Mid-Atlantic requested, in the alternative, restoration of good

title.

In its answer, MSMTBR generally denied the allegations and raised the

affirmative defenses of failure of consideration, waiver, and estoppel. MSMTBR

alleged that Mid-Atlantic had first breached the Agreement by failing to pay all the

sums due to MSMTBR.

In its summary-judgment motion, Mid-Atlantic argued that it was entitled to

summary judgment as a matter of law on its conversion and TLA claims because

there were no genuine issues of material fact. Mid-Atlantic explained that, after it

had purchased the eighty-two installment sales contracts at issue, MSMTBR

falsely certified to the DMV that MSMTBR was the “lienholder or authorized

agent of the lienholder” on fifty-one of the automobiles and the “original title

covering said vehicle[s] ha[d] been lost or destroyed.” MSMTBR knew, however,

that the titles had not been lost because it “had already sold all rights to those

2 See id. § 134.003. 5 vehicles” and had delivered the original titles to Mid-Atlantic. During the

pendency of the lawsuit, MSMTBR returned to Mid-Atlantic five of the fifty-one

contested Certificates of Title, but it refused to return the remaining forty-six or to

produce two titles it had never delivered. Of those forty-eight vehicles, MSMTBR

repossessed and resold at least twenty to third parties. Because Mid-Atlantic did

not possess good title to any of the remaining fourteen vehicles, it was prevented

from disposing of the three vehicles it had repossessed and could not deliver title to

one customer who had paid for his vehicle in full.

Mid-Atlantic attached to its summary-judgment motion the Agreement and

Limited Power of Attorney; the original title, as delivered by MSMTBR, for each

contested installment sales contract; a “Decision Call Back” form; for each of the

contested contracts, a “Guarantee of Title,” wherein MSMTBR guaranteed “to

provide [Mid-Atlantic] with a clean and marketable title to the collateral . . . within

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