Velandera Petrophysical Consulting, LLC, Gbenga Funmilayo, Keith Ferguson, Patty Abney, Cathy Brinkley, Akintunde Ademola, Olukemi Funmilayo v. Velandera Energy Partners LLC

CourtLouisiana Court of Appeal
DecidedJanuary 12, 2022
Docket54,128-CA
StatusPublished

This text of Velandera Petrophysical Consulting, LLC, Gbenga Funmilayo, Keith Ferguson, Patty Abney, Cathy Brinkley, Akintunde Ademola, Olukemi Funmilayo v. Velandera Energy Partners LLC (Velandera Petrophysical Consulting, LLC, Gbenga Funmilayo, Keith Ferguson, Patty Abney, Cathy Brinkley, Akintunde Ademola, Olukemi Funmilayo v. Velandera Energy Partners LLC) is published on Counsel Stack Legal Research, covering Louisiana Court of Appeal primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Velandera Petrophysical Consulting, LLC, Gbenga Funmilayo, Keith Ferguson, Patty Abney, Cathy Brinkley, Akintunde Ademola, Olukemi Funmilayo v. Velandera Energy Partners LLC, (La. Ct. App. 2022).

Opinion

Judgment rendered January 12, 2022. Application for rehearing may be filed within the delay allowed by Art. 2166, La. C.C.P.

No. 54,128-CA

COURT OF APPEAL SECOND CIRCUIT STATE OF LOUISIANA

*****

VELANDERA PETROPHYSICAL Plaintiffs-Appellants CONSULTING, LLC, GBENGA FUNMILAYO, KEITH FERGUSON, PATTY ABNEY, CATHY BRINKLEY, AKINTUNDE ADEMOLA, OLUKEMI FUNMILAYO

versus

VELANDERA ENERGY PARTNERS LLC Defendant-Appellee

***** Appealed from the Third Judicial District Court for the Parish of Union, Louisiana Trial Court No. 48,640

Honorable Jeffrey L. Robinson, Judge

SMITH & NWOKORIE, LLC Counsel for Appellants By: Anselm N. Nwokorie Brian G. Smith

SHOTWELL, BROWN & SPERRY, APLC Counsel for Appellee By: C. A. Martin, III

Before PITMAN, STONE, COX, STEPHENS, and HUNTER, JJ.

PITMAN, J., concurs in the result.

HUNTER, J., dissents with written reasons.

STONE, J., dissents for reasons assigned by J. HUNTER. COX, J.

Velandera Petrophysical Consulting, LLC (“Velandera Consulting”),

Gbenga Funmilayo (“Funmilayo”), Keith Ferguson (“Ferguson”), Patty

Abney (“Abney”), Cathy Brinkley (“Brinkley”), Akintunde Ademola

(“Ademola”), and Olukemi Funmilayo (“Olukemi”), collectively referred to

as “Plaintiffs,” filed a petition against Velandera Energy Partners, LLC

(“Velandera Energy”). Velandera Energy filed an exception of res judicata,

which the district court sustained. Plaintiffs now appeal. For the following

reasons, we affirm the district court’s judgment.

FACTS

Funmilayo is a member of Velandera Consulting, which has been in

business since at least 2014. As of October 2016, Velandera Consulting

employed six professionals—Funmilayo, Olukemi, Ferguson, Abney,

Brinkley, and Ademola.1 Velandera Consulting was in the business of

researching, sourcing, and negotiating oil and gas interests for other

companies to purchase.

In 2017, Funmilayo, on behalf of Velandera Consulting, approached

Manish Raj (“Raj”) about purchasing oil and gas targets that Velandera

Consulting had been developing to sell. At this time, Funmilayo would

sometimes do business as Velandera Partners, although the record does not

indicate this “partnership” was ever a registered business. Raj agreed to

fully fund and own Velandera Partners and purchase some of the oil and gas

targets that Velandera Consulting had been developing.

1 According to the transcript during the hearing on September 24, 2020, these individuals were never members of or employees of Velandera Energy Partners, LLC, and their services were obtained by Funmilayo on behalf of Velandera Consulting. Raj registered Velandera Energy with the Texas Secretary of State on

January 22, 2018. Raj and Schanti Corporation (a corporation owned by

Raj) are the sole members of Velandera Energy. Raj hired Funmilayo, in his

individual capacity, to manage Velandera Energy in June 2018. Velandera

Energy, through Funmilayo, had engaged the services of Velandera

Consulting to source, vet, and negotiate several acquisition targets, including

“Elevation, Henry, ERG, Amplify, Foothills, BlueRock, Alta Mesa, and

SWN.” On July 19, 2018, Funmilayo was removed as manager of

Velandera Energy.

Actions by Funmilayo while acting as manager prompted Velandera

Energy to fire Funmilayo. Velandera Energy and Funmilayo participated in

a mandatory arbitration, which occurred in Texas, and which arbitration was

initiated by Funmilayo after Velandera Energy filed suit to enjoin Funmilayo

from further action regarding Velandera Energy. The arbitration award was

entered on January 7, 2019, and a Texas state court confirmed the arbitration

award. The arbitration resulted in the following:

1. Manish Raj and Schanti Corp. are the sole members of Velandera Energy Partners, LLC.

2. Gbenga Funmilayo is not and never was a member of Velandera Energy Partners, LLC.

3. Funmilayo no longer has the right to act as a manager of Velandera, effective July 19, 2018 at 4:30 p.m.

4. Actions taken by Funmilayo in the purported capacity of member or manager of Velandera on or after July 19, 2018, are invalid.

5. Action taken by Funmilayo to admit members to Velandera without the participation of Manish Raj and Schanti Corp., including the admission of Akintunde Ademola, Michael O. Ojo, and Olukemi Funmilayo, are invalid.

2 6. The “Contract Agreement between Velandera Energy Partners, LLC and Gbenga Funmilayo of Velandera Petrophysical Consulting LLC” is invalid and unenforceable.

The following injunctive relief was confirmed by the Texas court:

1. Velandera Energy Partners LLC’s claims for money damages are denied.

2. Funmilayo’s claim for attorney fees in connection with his motion to compel arbitration is granted as to Velandera Energy Partners LLC in the amount of $4,900.

3. All other claims by Funmilayo are denied.

4. The administrative fees and expenses of American Arbitration Association totaling $6,250 shall be borne as incurred and previously paid to the Association, and the compensation for expenses of the arbitrator totaling $10,745 shall be borne 25% by Velandera Energy Partners LLC and 75% by Funmilayo. Therefore, Funmilayo shall reimburse Velandera Energy Partners LLC the additional sum of $8,058.75, representing that portion of said fees and expenses in excess of the apportioned costs previously incurred by Velandera Energy Partners LLC, Manish Raj and Shanti Corp.

On January 22, 2019, Plaintiffs filed a petition against Velandera

Energy in Union Parish, Louisiana. Plaintiffs alleged that in October 2017,

they secured the acquisition of SWN, located in Union Parish, Louisiana, for

Velandera Energy and continued to provide services to Velandera Energy

until July 19, 2018. They alleged that Velandera Energy agreed to assign

Velandera Consulting a 25 percent overriding royalty interest (“ORRI”) in

SWN in a contract agreement with the date of acquisition as the effective

date.2 Plaintiffs alleged in their petition that as of July 19, 2018, Velandera

2 Plaintiffs stated that they attached this contract as “Exhibit A” to the petition, but there are no attachments filed in the record. However, the contract between Velandera Energy and Funmilayo is included in the record, which includes a 25% ORRI regarding the SWN asset. This ORRI contract was ruled invalid and unenforceable by the arbitration and Texas judgment.

3 Energy owed them $4,393,553 in compensation, costs, and expenses for

services rendered. Plaintiffs also alleged that Velandera Energy agreed that

Plaintiffs would manage and operate the acquired assets and be compensated

with 25 percent of the net revenue from the asset. Velandera Energy closed

on the SWN asset on July 12, 2018. Plaintiffs alleged that Velandera Energy

has refused to assign to them the ORRI, make any payments, or record the

ORRI contract in the conveyance records of Union Parish. Plaintiffs

claimed that the value of the SWN asset was $45 million, Velandera Energy

only contributed $822,748.20 toward the acquisition, Velandera Energy was

enriched by at least $44 million, and Plaintiffs were impoverished by

$4,393,553.

Plaintiffs made the following claims in their petition: specific

performance of contract, fraudulent transfer, unjust enrichment/quantum

meruit, and fraud. Plaintiffs also requested the award of attorney fees and

costs.

On May 15, 2019, Plaintiffs amended their petition, adding Raj as an

individual defendant.

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Velandera Petrophysical Consulting, LLC, Gbenga Funmilayo, Keith Ferguson, Patty Abney, Cathy Brinkley, Akintunde Ademola, Olukemi Funmilayo v. Velandera Energy Partners LLC, Counsel Stack Legal Research, https://law.counselstack.com/opinion/velandera-petrophysical-consulting-llc-gbenga-funmilayo-keith-ferguson-lactapp-2022.