Springer Construction LLC

CourtUnited States Bankruptcy Court, D. Oregon
DecidedJuly 24, 2023
Docket22-31974
StatusUnknown

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Bluebook
Springer Construction LLC, (Or. 2023).

Opinion

JUIY 24, Clerk, U.S. Bankruptcy Court

Below is an opinion of the court.

Daw) We Horch _ DAVID W. HERCHER U.S. Bankruptcy Judge

UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF OREGON In re Springer Construction LLC, Case No. 22-31974-dwh7 Debtor. MEMORANDUM DECISION ON MATTSONS’ MOTION TO DETERMINE AND DIRECT PAYMENT OF SECURED CLAIM! I. Introduction Jeff and Terra Mattson have moved to determine the amount of their secured claim and direct that it be paid from property-sale proceeds the chapter 7 trustee holds.? Because the Mattsons share a last name, I will refer to Jeff Mattson as Jeff.

1 This disposition is specific to this action. It may be cited for whatever persuasive value it may have. 2 ECF No. 28. Page 1 -MEMORANDUM DECISION ON MATTSONS’ MOTION TO etc.

For the reasons below, I will grant the motion except with respect to prepetition interest. II. Background

On January 31, 2021, the chapter 7 debtor, Springer Construction LLC, agreed to build and sell the Mattsons a house on land on Allison Road in Sherwood, Oregon. They negotiated and signed an earnest-money agreement (EMA).3 The EMA set the purchase price at $1,590,949 “plus or minus changes in the construction of the House as agreed upon by the parties.”4 The EMA describes its Exhibit 1 as “the budget for construction of the House” and

states that “the amount”—referring to the budget—”may be added upon or deleted as agreed by the parties” and “[i]f there will be a change in the purchase price, the parties agree to make their changes in writing by using a change order signed by both Contractor and Buyer.”5 The EMA set July 14, 2021, as the deadline for Springer to complete construction of the house, obtain a certificate of occupancy, close the sale,6

and give the Mattsons possession.7

3 ECF No. 69-1 Ex. 1. 4 ECF No. 69-1 Ex. 1 at 1. 5 ECF No. 69-1 Ex. 1 at 2 ¶ 3. 6 ECF No. 69-1, Ex. 1 at 1 ¶ 2. 7 ECF No. 69-1, Ex. 1 at 2. On March 16, 2022, Steve Shaw, on behalf of Springer, emailed the Mattsons’ agent8 with a spreadsheet.9 Shaw described the spreadsheet as “paperwork for the SW Allison Extras you requested.” The spreadsheet’s

penultimate line says that the “Estimated New Sales Price as of 2/28/2022” was $2,225,426.64. The spreadsheet includes eight pages of narrative statements of Springer’s position on changes the Mattsons had requested, but without any associated price or cost figures.10 Shaw said in the email that amounts in the spreadsheet are “within a reasonable amount for the time that I have had to commit to this.” He concluded by asking whether the Mattsons “can afford the home at the current price (which continues to

increase daily) or not” and saying that he needed the answer “no later than tomorrow, March 17th by 9PM.” If by then the Mattsons “are not able to commit to purchasing the house and provide proof that they can,” Springer would immediately market the property “for the market price.” Two days later, the Mattsons sued Springer in state court for specific performance of the EMA and, alternatively, damages.11 They alleged that the

price was limited to the original purchase price12 plus an increase of $13,784 for upgrades to which they had agreed and for which they had paid

8 ECF No. 65-22 Ex. V. 9 ECF No. 65-25 Ex. Y. 10 ECF No. 65-25 Ex. Y at 8–15. 11 ECF No. 69-9 Ex. 10. 12 ECF No. 69-9 Ex. 10 at 6 ¶ 19. Springer.13 Three days later, Springer recorded a notice of pendency of action with respect to the lawsuit.14 In Springer’s answer to the complaint, it included a counterclaim for

breach of contract alleging that “[p]ursuant to the agreement of the parties, the price substantially increased.”15 On May 11, 2022, Springer agreed to sell the property to Michael and Brooke Matsuda for $2,775,000.16 On November 25, Springer filed its chapter 7 petition without having or resolved the Mattsons’ lawsuit or sold the property. III. Procedural status

On January 18, the chapter 7 trustee moved for authority to sell the property to the Matsudas for $2,484,252, free and clear of liens and claims, including that of the Mattsons.17 The next day, the trustee sought and obtained an order authorizing his rejection of the EMA.18 On February 7, Springer responded to the trustee’s sale motion and objected only to disbursements on account of certain secured claims, including the Mattsons’,

because Springer expected to object to the Mattsons’ secured claim.19

13 ECF No. 69-9 Ex. 10 at 5 ¶ 12. 14 ECF No. 69-4 Ex. 4. 15 ECF No. 69-10 Ex. 11 at 4 ¶ 11. 16 ECF No. 69-6 Ex. 7 at 5:38. 17 ECF No. 19. 18 ECF No. 21. 19 ECF No. 25. On February 21, the Mattsons moved to determine the amount of their secured claim and to direct that it be paid from sale proceeds when the sale closed.20 That’s the motion I decide here. The Mattsons assert a secured claim

for $380,465.47, the sum of the initial deposit of $325,000, a second deposit of $13,784, and prepetition interest of $41,681.47 from July 14, 2021, at 9 percent per year. Springer objected to the motion.21 On March 8, I granted the trustee’s motion to sell and required that he retain and not disburse proceeds payable to certain secured creditors, including the Mattsons.22 On April 21, the trustee closed the sale to the Matsudas.23

IV. Bankruptcy court authority Because the motion seeks allowance of a claim against the estate and determination of the validity of liens, it is a core proceeding under 28 U.S.C. § 157(b)(2)(B) and (K). I thus may hear and determine the motion and enter an appropriate order.24 V. Mattsons’ secured claim

The Mattsons filed an amended secured proof of claim on March 29.25 Besides claiming the amounts in the motion and asserting that the claim is oversecured, they assert entitlement to postpetition interest at 9 percent per

20 ECF No. 28. 21 ECF No. 33. 22 ECF No. 36. 23 ECF No. 61; ECF No. 69-19 Ex. 20. 24 28 U.S.C. § 157(b)(1). 25 Claim 5-2. year. Springer does not challenge the first two amounts.26 It challenges the claimed security and the interest components, and it raises defenses, including setoff.

A. Liens The Mattsons allege that their claim is secured by both an Oregon common-law equitable lien and one under 11 U.S.C. § 365(j). The property is in Oregon, and the parties have proceeded as though Oregon law applies to the claim. In Oregon, a buyer under an executory contract to buy land acquires “an estate in the land . . . in proportion as he pays the purchase price.” If the seller repudiates or fails to perform the

contract, the buyer has the right to foreclose the “equitable lien upon the premises.”27 Under 365(j), a buyer under a rejected executory contract to buy land who is not in possession has a lien on the land for the amount paid. Springer’s only argument against the two asserted liens is that they don’t arise “under the terms of the contract.”28 But neither theory requires that the lien arise under any contract.

I agree with the Mattsons that they have both types of lien. The claim is secured.

26 ECF No. 74 at 2:6 ¶ 4. 27 Stewart v. Mann, 165 P. 590, 592 (Or. 1917). See also Howard v. Linnhaven Orchard Co., 228 F. 523, 526 (D. Or. 1913). 28 ECF No. 33 at 1:24–26. B. Interest 1. Legal authority for interest The Mattsons claim entitlement to 9 percent interest, before and after the

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