Roger L. Caplinger, Gretchen Caplinger, Innovative Builders Inc., Gun-Ho LLC, and Pass Business Terminal LLC v. Whitney Bank, a Mississippi State Chartered Bank f/k/a Hancock Bank, a Mississippi State Chartered Bank;

CourtCourt of Appeals of Mississippi
DecidedMarch 24, 2020
DocketNO. 2018-CA-01700-COA
StatusPublished

This text of Roger L. Caplinger, Gretchen Caplinger, Innovative Builders Inc., Gun-Ho LLC, and Pass Business Terminal LLC v. Whitney Bank, a Mississippi State Chartered Bank f/k/a Hancock Bank, a Mississippi State Chartered Bank; (Roger L. Caplinger, Gretchen Caplinger, Innovative Builders Inc., Gun-Ho LLC, and Pass Business Terminal LLC v. Whitney Bank, a Mississippi State Chartered Bank f/k/a Hancock Bank, a Mississippi State Chartered Bank;) is published on Counsel Stack Legal Research, covering Court of Appeals of Mississippi primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Roger L. Caplinger, Gretchen Caplinger, Innovative Builders Inc., Gun-Ho LLC, and Pass Business Terminal LLC v. Whitney Bank, a Mississippi State Chartered Bank f/k/a Hancock Bank, a Mississippi State Chartered Bank;, (Mich. Ct. App. 2020).

Opinion

IN THE COURT OF APPEALS OF THE STATE OF MISSISSIPPI

NO. 2018-CA-01700-COA

ROGER L. CAPLINGER, GRETCHEN APPELLANTS CAPLINGER, INNOVATIVE BUILDERS INC., GUN-HO LLC, AND PASS BUSINESS TERMINAL LLC

v.

WHITNEY BANK, A MISSISSIPPI STATE APPELLEE CHARTERED BANK F/K/A HANCOCK BANK, A MISSISSIPPI STATE CHARTERED BANK

DATE OF JUDGMENT: 11/14/2018 TRIAL JUDGE: HON. ROGER T. CLARK COURT FROM WHICH APPEALED: HARRISON COUNTY CIRCUIT COURT, FIRST JUDICIAL DISTRICT ATTORNEY FOR APPELLANTS: MATTHEW LOUIS PEPPER ATTORNEY FOR APPELLEE: JEFFREY R. BARBER NATURE OF THE CASE: CIVIL - CONTRACT DISPOSITION: AFFIRMED - 03/24/2020 MOTION FOR REHEARING FILED: MANDATE ISSUED:

BEFORE BARNES, C.J., GREENLEE AND McDONALD, JJ.

GREENLEE, J., FOR THE COURT:

¶1. Pass Business Terminal LLC executed a promissory note to Whitney Bank1 that was

secured by commercial real property in Pass Christian, Mississippi. Whitney Bank

subsequently filed suit in the Harrison County Circuit Court against the Guarantors2 after the

1 The record reflects that the business’s name changed to “Hancock Whitney Bank,” effective May 25, 2018. 2 We refer to Roger Caplinger, Gretchen Caplinger, Innovative Builders Inc., and Gun-Ho LLC as the “Guarantors” in this opinion. Appellants3 failed to repay that loan. In response to the suit, the Guarantors filed a

counterclaim against Whitney Bank, contending that Whitney Bank (1) breached the implied

covenant of good faith and fair dealing and (2) was negligent in connection to an appraisal

of the collateral by Integra Realty Resources - Jackson LLC (Integra), which Whitney Bank

had requested.

¶2. Whitney Bank filed a motion for summary judgment under Rule 56 of the Mississippi

Rules of Civil Procedure, stating no genuine issues of material fact existed in the Guarantors’

counterclaim. The Guarantors then moved to amend their counterclaim to add Pass Business

Terminal as a counter-plaintiff and Integra as a counter-defendant. In the interim, Pass

Business Terminal paid off the indebtedness secured by the real property. After a hearing

on the motions, the circuit court entered an order dismissing Whitney Bank’s complaint

against the Guarantors because the note had been satisfied in full, denying the Guarantors’

motion to amend, granting Whitney Bank’s motion for summary judgment, and dismissing

the Guarantors’ counterclaim.

¶3. It is from that order the Appellants appeal to this Court. The Appellants cite four

errors pertaining to Whitney Bank’s summary-judgment motion. Finding no error, we affirm.

FACTS AND PROCEDURAL BACKGROUND

¶4. On November 6, 2014, Pass Business Terminal, the debtor, executed a consolidated

promissory note in favor of its lender, Whitney Bank, in the amount of $473,162.64. On the

3 The “Appellants” is a reference to Pass Business Terminal LLC and the Guarantors.

2 same day, the Guarantors also executed continuing-guaranty agreements. The loan was

secured by commercial real property located in Pass Christian, Mississippi.4

¶5. One year later, on November 6, 2015, Pass Business Terminal’s note matured under

its terms. The Appellants failed to repay Whitney Bank. On December 29, 2015, Whitney

Bank and the Appellants entered into a forbearance agreement that extended the loan’s

termination date by six months, to May 6, 2016. In addition to extending the loan’s

termination date, the forbearance agreement postponed foreclosure of the collateral, included

a clause that stated Whitney Bank had no further obligation to forbear, and included language

that gave Whitney Bank the sole discretion to extend the forbearance period beyond the May

6, 2016 termination date.

¶6. Following the expiration of the forbearance agreement, the Appellants failed to repay

Whitney Bank. Subsequently, Whitney Bank initiated a foreclosure sale scheduled for

October 14, 2016. However, Pass Business Terminal filed a Chapter 11 bankruptcy petition

in the United States Bankruptcy Court for the Southern District of Mississippi on October

11, 2016, staying the foreclosure.5

¶7. During the bankruptcy case, Whitney Bank demanded the Guarantors remit their

obligations under their continuing-guaranty agreements and the forbearance agreement. The

4 The commercial real property consisted of roughly 5.1 acres and a 44,796 square- foot (gross) building area. The property was used for the owner’s business use and leasing of space to third parties. 5 The matter was docketed as case number 16-51767-KMS.

3 Guarantors refused, which Whitney Bank alleges breached their guarantee agreements and

forbearance agreement.

¶8. In the bankruptcy proceedings, Whitney Bank and Pass Business Terminal reached

an agreement on February 7, 2017, that was reflected in an agreed order entered by the

bankruptcy court, granting (1) “Conditional Abandonment and Conditional Relief From

Automatic Stay”; (2) “Determination of Single Asset Real Estate Status”; (3) “Forms of

Adequate Protection”; and (4) “Conditional Use of Cash Collateral.”6 That order provided

in part:

I. Nothing in this Order shall be construed as consent by the Bank of the terms of any plan or any amendment or modification to the Motion or the Motion to Prohibit or this Order. The Bank’s consent to the relief herein will not constitute a waiver of any of its rights, claims and defenses against the Debtor or the Guarantors under the Loan Documents and applicable law (state and federal).

....

M. The stipulations, terms and conditions of this Order shall be binding upon the Debtor and the Bank.

N. The Debtor hereby waives and releases any and all claims or causes of action it may have or claim to have against the Bank and those acting on its behalf (including, but not limited to, its officers, directors, shareholders, employees, agents, accountants, and attorneys) through and including the date of this Order to the full extent provided for in Section VII.D of the Forbearance Agreement. The Debtor waives the right to injunctive relief (including under Section 105 of the Code) that is inconsistent with the terms and conditions of this Order. . . .

6 The circuit court took judicial notice of the “Agreed Bankruptcy Order” under Mississippi Rule of Evidence 201.

4 ¶9. On April 4, 2017, before Pass Business Terminal subsequently satisfied its loan,

Whitney Bank filed suit against the Guarantors in Harrison County, Mississippi.7 Seven days

after the suit was filed, Pass Business Terminal, which was not a party to the suit, filed a

suggestion-of-bankruptcy exhibit, which was the bankruptcy court’s agreed order. On May

9, 2017, the Guarantors filed an “Answer and Counterclaim.” The counterclaim alleged that

Whitney Bank (1) breached the implied covenant of good faith and fair dealing and (2) was

“wilful[ly] and intentionally negligent in its valuation practice” because Whitney Bank

“deliberately undervalued the property so that it could obtain the property using unfair

lending practices and[/]or fraud or artifice.” On June 15, 2017, Whitney Bank filed its

“Second Amended Reply and Affirmative Defenses to Counterclaim of Defendants.”

¶10. On October 27, 2017, the bankruptcy case was dismissed without a confirmed Chapter

11 plan. Whitney Bank reinitiated foreclosure on the commercial real property, but before

the completion of that foreclosure sale, Pass Business Terminal satisfied its loan in full to

Whitney Bank on March 29, 2018.

¶11. Over the next year, the parties failed to engage in discovery. Whitney Bank filed a

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Roger L. Caplinger, Gretchen Caplinger, Innovative Builders Inc., Gun-Ho LLC, and Pass Business Terminal LLC v. Whitney Bank, a Mississippi State Chartered Bank f/k/a Hancock Bank, a Mississippi State Chartered Bank;, Counsel Stack Legal Research, https://law.counselstack.com/opinion/roger-l-caplinger-gretchen-caplinger-innovative-builders-inc-gun-ho-missctapp-2020.