YAM CAPITAL III. LLC v. GS HOSPITALITY, LLC

CourtMissouri Court of Appeals
DecidedJune 15, 2022
DocketSD37387
StatusPublished

This text of YAM CAPITAL III. LLC v. GS HOSPITALITY, LLC (YAM CAPITAL III. LLC v. GS HOSPITALITY, LLC) is published on Counsel Stack Legal Research, covering Missouri Court of Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
YAM CAPITAL III. LLC v. GS HOSPITALITY, LLC, (Mo. Ct. App. 2022).

Opinion

Missouri Court of Appeals Southern District Division Two

YAM CAPITAL III, LLC, ) ) Respondent, ) ) vs. ) No. SD37387 ) GS HOSPITALITY, LLC, ) FILED: June 15, 2022 ) Appellant. )

APPEAL FROM THE CIRCUIT COURT OF TANEY COUNTY

Honorable Jeffrey M. Merrell, Judge

AFFIRMED AND REMANDED WITH DIRECTIONS

GS Hospitality, LLC (“GS Hospitality”) appeals from the circuit court’s judgment in

favor of YAM Capital III, LLC (“YAM Capital”) granting YAM Capital’s motion for summary

judgment. In nine points, GS Hospitality contends the circuit court erred in granting YAM

Capital’s motion for summary judgment on GS Hospitality’s counterclaims of abuse of process,

breach of fiduciary duty, wrongful foreclosure, assessment of exemplary or punitive damages,

declaratory judgment, and for violation of its civil rights; denying GS Hospitality’s partial

motion for summary judgment on its declaratory judgment counterclaim; and canceling GS

Hospitality’s notice of lis pendens. YAM Capital contends that GS Hospitality’s points lack

merit and has filed a motion for attorney fees incurred in this appeal under the terms of various

loan documents entered into by and between the parties. Because none of GS Hospitality’s

1 points establish circuit court error, we affirm the circuit court’s judgment, grant YAM Capital’s

motion for attorney fees, and remand to the circuit court for a hearing to determine the amount of

those fees and for entry of a judgment accordingly.

Factual and Procedural Background1

GS Hospitality defaulted on a $7.7 million note to YAM Capital secured by GS

Hospitality’s motel property in Hollister. GS Hospitality obtained bankruptcy protection for a

time, but the bankruptcy court finally allowed YAM Capital to proceed. YAM Capital then filed

a petition initiating this litigation by which it sought and procured ex parte a circuit court order

appointing a limited receiver with respect to the collateral. Shortly thereafter, GS Hospitality

filed a motion to revoke or modify the order appointing the receiver that, following a hearing, the

circuit court denied. GS Hospitality filed an appeal of that denial in this Court. Eventually, the

receiver’s final report and account were filed and approved and the receiver was discharged by

the circuit court, thereby resolving YAM Capital’s petition. Following the discharge of the

receiver, GS Hospitality’s appeal challenging the circuit court’s denial of its motion to revoke

the appointment of the receiver was dismissed by this Court as moot (“YAM 1”). A successor

trustee later oversaw the sale of the collateral by way of a nonjudicial foreclosure.

While YAM Capital’s petition was pending, GS Hospitality filed counterclaims against

YAM Capital and recorded with the Taney County office of the recorder of deeds a notice of lis

pendens. Through a series of amendments, GS Hospitality’s counterclaims ultimately included

the following six counts claiming that:

1 GS Hospitality filed a previous appeal, see YAM Capital III, LLC v. GS Hospitality, LLC, 611 S.W.3d 598 (Mo.App. 2020), which we borrow freely from without further attribution.

2 (1) YAM Capital engaged in abuse of process by seeking, on an ex parte

basis and without GS Hospitality’s consent, the circuit court appointment of a

receiver (count I—abuse of process);

(2) YAM Capital acquired a fiduciary duty to GS Hospitality by way of

exercising dominion and control over the involvement of the successor trustee,

and then breached that duty in the foreclosure sale of the collateral (count II—

breach of fiduciary duty);

(3) YAM Capital did not have a lawful right to a foreclosure sale of the

collateral, it misrepresented its lack of such a right, and it breached its fiduciary

duty to GS Hospitality by engaging in such conduct (count III—wrongful

foreclosure);

(4) the conduct of YAM Capital alleged in counts I, II, and III meets the

criteria for the assessment of exemplary or punitive damages (count IV—

exemplary or punitive damages);

(5) the circuit court’s receivership order on YAM Capital’s petition is void

because it was entered without due process to GS Hospitality (count V—

declaratory judgment); and

(6) YAM Capital’s conduct in obtaining the circuit court’s receivership

order violated GS Hospitality’s civil rights under title 42, section 1983 of the

United States Code (count VI—civil rights violation).

Three motions relevant to this appeal followed. GS Hospitality filed a motion for partial

summary judgment with respect to its count V—declaratory judgment. YAM Capital filed

motions (1) to cancel GS Hospitality’s notice of lis pendens and (2) for summary judgment on

3 each of the six counts in GS Hospitality’s counterclaim. YAM Capital’s summary judgment

motion was accompanied by thirty-five numbered paragraphs denominated as statements of

uncontroverted material facts (“SUMF”) with thirty-five referenced exhibits attached.

The circuit court denied GS Hospitality’s motion and granted YAM Capital’s motions.

As to GS Hospitality’s notice of lis pendens, the court issued an order stating that “[GS

Hospitality’s] counterclaims are not based on any equitable right, claim or lien, affecting or

designed to affect real estate. Therefore, Missouri law does not permit [GS Hospitality] to

record a notice of lis pendens related to its counterclaims.”

As to its summary judgment rulings, the circuit court first denied GS Hospitality’s

motion, stating, by way of a docket entry, the following:

Having considered the pleadings of the parties and arguments of counsel in hearing, this Court denies Defendant’s motion for partial summary judgment - as to Count V of Defendant’s Third Amended Counterclaim. The Court denies Defendant’s motion having found that 1) the issue raised in Count V of Defendant’s Third Amended Counterclaim has previously been ruled by the Court and has become the law of the case, and 2) the matter is now moot, and 3) Defendant was provided that amount of Due Process afforded by the contract of the parties and by the law, and 4) Defendant’s motion for partial summary judgment fails to fully address Plaintiff’s affirmative defenses to Defendant’s Third Amended Counterclaim, and 5) Defendant’s motion fails to meet its burden for declaratory relief.

The circuit court thereafter granted YAM Capital’s motion for summary judgment on all

counts in GS Hospitality’s counterclaim and entered its judgment making the following

determinations:

1. The only pending claims or causes of action in this action are those asserted by GS Hospitality in its Counterclaim against YAM Capital: Count I for abuse of process; Count II for breach of fiduciary duty; Count III for wrongful foreclosure; Count IV for “assessment of exemplary or punitive damages”; Count V for declaratory judgment; and Count VI for “recovery for violation of civil rights.”

2. With respect to Count I, the uncontroverted material facts establish that GS Hospitality cannot meet its burden to prove YAM employed an “illegal, improper, perverted use of process, a use neither warranted nor authorized by the process.”

4 Trs. of Clayton Terrace Subdivision v. 6 Clayton Terrace, LLC, 585 S.W.3d 269, 277 (Mo. bane 2019); see also Ritterbusch v. Holt, 789 S.W.2d 491, 493 (Mo. banc 1990) and Stafford v. Muster, 582 S.W.2d 670, 678 (Mo. banc 1979). The Court is guided by Moffett v.

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YAM CAPITAL III. LLC v. GS HOSPITALITY, LLC, Counsel Stack Legal Research, https://law.counselstack.com/opinion/yam-capital-iii-llc-v-gs-hospitality-llc-moctapp-2022.