Wachovia Bank, N.A. v. Ferretti

935 A.2d 565, 2007 Pa. Super. 320, 2007 Pa. Super. LEXIS 3546
CourtSuperior Court of Pennsylvania
DecidedOctober 25, 2007
StatusPublished
Cited by101 cases

This text of 935 A.2d 565 (Wachovia Bank, N.A. v. Ferretti) is published on Counsel Stack Legal Research, covering Superior Court of Pennsylvania primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Wachovia Bank, N.A. v. Ferretti, 935 A.2d 565, 2007 Pa. Super. 320, 2007 Pa. Super. LEXIS 3546 (Pa. Ct. App. 2007).

Opinion

OPINION BY

BENDER, J.:

¶ 1 Wachovia Bank, N.A. (“Wachovia”), the plaintiff below, appeals from the October 5, 2006 order granting judgment on the pleadings in favor of the defendants, Renee Lynne Ferretti, Esq. (“Attorney Ferretti”), and her law practice, Brown, Brown, Solt & Ferretti (collectively, “Fer-retti”) in this legal malpractice case. The trial court concluded that Wachovia’s claims of negligence and breach of contract against Ferretti were barred by the statute of limitations. For the following reasons, we affirm.

¶ 2 Wachovia commenced this action by filing a praecipe for writ of summons on September 9, 2005, followed by a complaint on January 18, 2006. However, to understand the issues in the instant case, it is first necessary to describe the history of the underlying case in which Wachovia alleges the malpractice occurred.

¶ 3 Specifically, in 1989, Attorney Fer-retti represented Wachovia’s predecessor in interest, Meridian Bank (“Meridian”), in connection with a commercial loan made to Brookside Partners (“Brookside”), a real estate development partnership, for construction of condominiums in Lehigh County. On June 12, 1989, Ralph R. Pisa-ni (“Pisani”), one of Brookside’s partners, agreed to act as a surety with respect to the loans made to the partnership. In 1990, Brookside defaulted on the loans. In 1991, Meridian confessed judgment against Brookside, Pisani, and other sureties. On December 23, 1991, Meridian filed a confession of judgment against Pisani in the amount of $6,327,075.66 in Lehigh County. On January 12, 1992, the Lehigh County judgment was transferred to Bucks County for execution against real property owned there by Pisani and his wife. Pisa-ni contested the execution and judgment proceedings and, on August 4, 1992, Meridian and Pisani entered into a settlement agreement in which Pisani and his wife agreed to pay Meridian $160,000 in exchange for Meridian’s agreement to “forever discharge” them from the confessed judgment.

¶4 In September of 1992, pursuant to Pisani’s attorneys’ request, Meridian, through Attorney Ferretti, filed a praecipe in Lehigh County indicating that the action was settled, discontinued, and ended, and also acknowledging satisfaction of the judgment. Attorney Ferretti also filed a praecipe in Bucks County, indicating that the action was settled, discontinued, and ended; however, she failed to have the Bucks County judgment marked “satisfied.” (This failure to mark the Bucks County judgment as satisfied forms the basis of the legal malpractice claim in the instant case).

¶ 5 After trying to sell his home and apply for life insurance and a credit card, Pisani discovered that the Bucks County judgment had not been marked satisfied. Accordingly, Pisani initiated proceedings against Meridian on October 20, 1994, seeking liquidated damages pursuant to 42 Pa.C.S. § 8104. 1 In August of 1995, Pisa- *568 ni’s counsel asked Attorney Ferretti to prepare a praecipe to have the Bucks County action marked satisfied, which she did. Indeed, Attorney Ferretti continued to represent Meridian in defending against Pisani’s petition for liquidated damages and remained as co-counsel when Meridian engaged another law firm to defend against the petition in 1996.

¶ 6 On November 24, 1998, the Bucks County trial court denied Pisani’s petition to assess liquidated damages, holding that because Meridian’s judgment was not paid in full, Meridian was not required to mark the judgment satisfied. Pisani appealed to our Court and, on August 12, 1999, we reversed the Bucks County court’s decision, indicating that “a judgment can be deemed satisfied ... by an agreement to accept a lesser amount as full payment.” Meridian Bank v. Pisani, 12 EDA 1999, unpublished memorandum at 6, 745 A.2d 53 (Pa.Super. filed August 12, 1999). We found that the language of the release between Meridian and Pisani revealed that Meridian agreed to “forever discharge” Pi-sani from liability on the judgments entered in Lehigh County and Bucks County in exchange for Pisani’s payment of $160,000. Id. at 8, 9. Although we concluded that all the requisites of section 8104 were met and that Pisani was entitled to liquidated damages, we remanded to the trial court for consideration of Meridian’s affirmative defenses. On October 21, 1999, we denied Meridian’s petition for reconsideration, and on April 13, 2000, the Supreme Court of Pennsylvania denied Meridian’s petition for allowance of appeal. Meridian Bank v. Pisani, 563 Pa. 618, 757 A.2d 933 (2000).

¶ 7 On December 29, 2000, upon remand and in reliance on this Court’s decision in Pantuso Motors, Inc. v. CoreStates Bank, N.A., 745 A.2d 614 (Pa.Super.1999), the Bucks County trial court found merit to Meridian’s affirmative defense that Pisa-ni’s action for liquidated damages under section 8104 was barred by a two-year statute of limitations. Pisani again appealed to our Court and, on October 2, 2001, we affirmed the trial court’s decision dismissing Pisani’s petition based on our decision in Pantuso. Meridian Bank v. Pisani, 790 A.2d 347 (Pa.Super.2001) (unpublished memorandum). Pisani filed a petition for allowance of appeal with our Supreme Court.

¶ 8 In the meantime, our Supreme Court reversed our Court’s decision in Pantuso, finding instead that a six-year statute of limitations applied to actions under section 8104. Pantuso Motors, Inc. v. CoreStates Bank, N.A., 568 Pa. 601, 798 A.2d 1277 (2002). Accordingly, the Supreme Court granted Pisani’s petition for allowance of *569 appeal and, citing their decision in Pantu-so, issued an order on September 18, 2002, which reversed our Court’s decision that had affirmed dismissal of Pisani’s petition based on a two-year statute of limitations. Mendian Bank v. Pisani, 569 Pa. 576, 806 A.2d 1258 (2002). Our Supreme Court also remanded the matter to the Bucks County trial court for consideration of Meridian’s remaining affirmative defenses. Id.

¶ 9 On June 30, 2008, upon remand, the Bucks County trial court considered Meridian’s remaining affirmative defenses, found them to be without merit, and determined that Pisani was entitled to liquidated damages under section 8104. Meridian Bank v. Pisani, No. 92-00733-16-6, 2003 WL 25480520 (Bucks Cty.2003). Thus, the trial court entered an order, dated June 30, 2003, assessing liquidated damages against Meridian and its successors in interest in the amount of $8,163,537.83.

¶ 10 Meridian filed an appeal to our Court and, on June 21, 2004, we affirmed the Bucks County trial court’s decision assessing liquidated damages against Meridian. Meridian Bank v. Pisani, 859 A.2d 843 (Pa.Super.2004) (unpublished memorandum). On July 7, 2005, our Supreme Court denied Meridian’s petition for allowance of appeal. Meridian Bank v. Pisani, 583 Pa. 696, 879 A.2d 783 (2005).

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Cite This Page — Counsel Stack

Bluebook (online)
935 A.2d 565, 2007 Pa. Super. 320, 2007 Pa. Super. LEXIS 3546, Counsel Stack Legal Research, https://law.counselstack.com/opinion/wachovia-bank-na-v-ferretti-pasuperct-2007.