Prism Partners, L.P. v. Michael D. Figlio v. Prism Partners, L.P. Larry Cherry

CourtCourt of Appeals of Tennessee
DecidedDecember 3, 2001
Docket01A01-9703-CV-00103
StatusPublished

This text of Prism Partners, L.P. v. Michael D. Figlio v. Prism Partners, L.P. Larry Cherry (Prism Partners, L.P. v. Michael D. Figlio v. Prism Partners, L.P. Larry Cherry) is published on Counsel Stack Legal Research, covering Court of Appeals of Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Prism Partners, L.P. v. Michael D. Figlio v. Prism Partners, L.P. Larry Cherry, (Tenn. Ct. App. 2001).

Opinion

IN THE COURT OF APPEALS OF TENNESSEE WESTERN SECTION AT NASHVILLE

PRISM PARTNERS, L.P., ) ) Plaintiff/Appellee, ) Davidson Circuit No. 95C-4342 ) VS. ) Appeal No. 01A01-9703-CV-00103 ) MICHAEL D. FIGLIO, ) ) Defendant/Appellant, ) ) VS. ) ) PRISM PARTNERS, L.P. ) LARRY CHERRY, ) ) Counter-Defendant/ ) Appellee, ) Third Party Defendant/ ) Appellee. )

APPEAL FROM THE CIRCUIT COURT OF DAVIDSON COUNTY AT NASHVILLE, TENNESSEE THE HONORABLE BARBARA N. HAYNES, JUDGE

STEVE NORTH MARK NORTH Madison, Tennessee Attorneys for Appellant

EDMUND W. TURNLEY, III Nashville, Tennessee Attorney for Appellant

RICHARD M. SMITH MANIER, HEROD, HOLLABAUGH & SMITH Nashville, Tennessee Attorney for Plaintiff/Appellee, Prism Partners, L.P.

W. LEE CORBETT DAVID F. LEWIS CORBETT, CROCKETT & LECKRONE Nashville, Tennessee Attorneys for Third-Party Defendant/Appellee, Larry Cherry

AFFIRMED IN PART, REVERSED IN PART & REMANDED

ALAN E. HIGHERS, J.

CONCUR:

DAVID R. FARMER, J.

HOLLY KIRBY LILLARD, J.

In this unlawful detainer action, Defendant Michael D. Figlio appeals the trial court’s

final judgment which held that Plaintiff/Appellee Prism Partners, L.P., had free and clear title to the subject property, ordered Figlio to vacate the subject property, and dismissed

Figlio’s counterclaim for conspiracy. The trial court’s judgment also dismissed Figlio’s third-

party complaint for fraud and conspiracy against Third-Party Defendant/Appellee Larry

Cherry. For the reasons hereinafter stated, we affirm in part and reverse in part the trial

court’s judgment, and we remand for further proceedings.

I. Procedural History

This lawsuit began as an unlawful detainer action filed in the Metropolitan General

Sessions Court of Davidson County by Prism Partners against Figlio. In its complaint,

Prism Partners alleged that Figlio was unlawfully detaining certain real property located at

115 Brookhollow Road in Nashville, Tennessee. The complaint sought possession of the

property and past-due rent in the amount of $63,000.

After the case was transferred to the Circuit Court for Davidson County, Figlio filed

an answer in which he asserted several affirmative defenses, including, but not limited to,

the statute of limitations, unclean hands, and conspiracy. Figlio also asserted a

counterclaim against Prism Partners for conspiracy. In support of this counterclaim, Figlio

alleged that Prism Partners received title to the subject property by quitclaim deed

executed by Third-Party Defendant Larry Cherry on October 31, 1995; that Prism Partners

paid no consideration for the property; and that Prism Partners and Cherry had conspired

to deprive Figlio of his ownership of the property.

In addition to asserting a counterclaim against Prism Partners, Figlio filed a third-

party complaint against Larry Cherry for fraud and conspiracy. The conspiracy count was

based on the same factual assertions as the conspiracy claim against Prism Partners. The

fraud claim, however, dated back to a series of events beginning in 1986. In support of the

fraud claim, Figlio made the following allegations:

5. That in 1986, Cherry owned and operated a financial consultant business under the style of Money Management Services.

6. That in or about February, 1986, Figlio and his wife, were experiencing financial difficulties and consulted with Cherry regarding the establishment of a plan to enable them to retain their financial stability.

2 7. That Cherry established a financial plan wherein Figlio and his wife would pay all of their income to Cherry and he would negotiate with their creditors, pay their bills, and conserve their income until such time as they had reached financial stability.

8. That Cherry further devised a plan wherein Figlio and his wife would sell their home at 115 Brookhollow Road, Nashville, Davidson County, Tennessee, to certain of Cherry’s investors for the sum of $150,000, which would give the investors a tax advantage and at the same time, provide monies needed by Figlio and his wife to bring current their obligations and have additional capital upon which to live. Said sale was described as being in actuality a loan with the right in Figlio to repurchase the property when they were financially able to either sell or refinance the property.

9. That Figlio and his wife paid all of their income to Cherry for approximately one year.

10. That Cherry failed and/or refused to properly account for monies received and many obligations of Figlio and his wife were either not paid or paid in an untimely manner, causing additional problems for Figlio and his wife, including claims filed against them by the Internal Revenue Service.

11. That Cherry fraudulently induced Figlio and his wife to execute a deed to their property to Cherry’s investors, full well knowing that the financial plan structured by him for Figlio and his wife, would never result in their ability to repurchase the property.

12. That Cherry and Figlio terminated their arrangement in or about February, 1987.

13. That Figlio paid rent on the property at the rate of $900 per month until June, 1989, when he was unable to obtain a true and accurate accounting from Cherry.

14. That from and after June, 1989, Cherry continually threatened Figlio with eviction, but full well knowing of his fraudulent acts and misrepresentations, did not bring an eviction action until June, 1994, when he filed a Detainer Warrant in the Metropolitan General Sessions Court, Docket Number 94GT4843, alleging that Figlio was in arrears in the sum of $48,600, . . . .

15. That Cherry failed to prosecute said Detainer Warrant and in December, 1995, entered a voluntary non-suit. . . .

Figlio’s third-party complaint further alleged that, having dismissed the initial detainer

warrant, Cherry conspired with Prism Partners to deprive Figlio of his property. In

furtherance of this conspiracy, Cherry allegedly executed the quitclaim deed and

transferred the property to Prism Partners for no consideration.

In response to the third-party complaint, Cherry filed a motion to dismiss, contending

that the complaint failed to state a claim upon which relief could be granted and that the

3 complaint was barred by the three-year statute of limitations for fraud actions. Prism

Partners filed a “Response to Motion to Dismiss” in which it adopted the legal arguments

set forth in Cherry’s motion to dismiss.

In March 1996, the trial court entered an order dismissing Figlio’s third-party claims

against Cherry for fraud and conspiracy based on the court’s ruling that Figlio had not pled

these claims with sufficient particularity. See T.R.C.P. 9.02.

Figlio filed a motion to vacate the trial court’s March 1996 order, supported by a

memorandum and affidavit. In his affidavit, Figlio admitted that Cherry’s fraudulent scheme

initially was exposed in 1989. Figlio asserted, however, that Cherry had engaged in an

intentional, ongoing conspiracy to deprive Figlio of funds and property which culminated

in October 1995, when Cherry quitclaimed the property to Prism Partners for no

consideration.

In April 1996, the trial court entered an order which ruled that, inasmuch as Figlio’s

third-party claim for conspiracy against Cherry had been dismissed, “the subject matter of

the Motion For Summary Judgment set for hearing April 19, 1996 [was] moot.” Because

no motion for summary judgment appears in the record, we can only surmise that the trial

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Prism Partners, L.P. v. Michael D. Figlio v. Prism Partners, L.P. Larry Cherry, Counsel Stack Legal Research, https://law.counselstack.com/opinion/prism-partners-lp-v-michael-d-figlio-v-prism-partn-tennctapp-2001.