Thursday, May 15, 2014
Ind. Decisions - Court of Appeals issues 1 today (and 6 NFP)
For publication opinions today (1):
In Riviera Plaza Investments, LLC and Haresh Shah v. Wells Fargo Bank, N.A., a 19-page opinion, Judge Bradford writes:
On July 7, 2006, Appellant-Defendant Riviera Plaza Investments, LLC executed a fixed rate promissory note (“Note”) by which it promised to pay Citibank N.A., a national banking association, successor, by merger, to Citibank, FSB, a federal savings bank (“Citibank”) the sum of $2,925,000.00 plus interest. On that same date and in connection to the Note, Riviera also executed a mortgage on certain real estate owned by Riviera, and any improvements located thereon (“Mortgage”), and Appellant-Defendant Haresh Shah executed a loan guaranty (“Guaranty”). Riviera subsequently defaulted on the loan.NFP civil opinions today (4):
The Note, Mortgage, and Guaranty (collectively the “Loan Documents”) were eventually assigned to Appellee-Plaintiff Wells Fargo Bank, N.A. (“Wells Fargo”), which then became involved in ongoing collection and foreclosure proceedings against Riviera and Shah (collectively, “Appellants”). On May 13, 2013, the trial court issued its order of judgment. With regard to Riviera, the trial court granted Wells Fargo’s motion for summary judgment. With regard to Shah, the trial court entered judgment in favor of Wells Fargo and against Shah.
On appeal, Appellants contend that the trial court erred in finding in favor of Wells Fargo. Specifically, Appellants claim that the record does not support the trial court’s determination that (1) the Loan Documents were properly assigned to Wells Fargo, (2) Wells Fargo was entitled to recover from Appellants, (3) the assignment of the right, title, and interest of the Loan Documents did not amount to a material alteration of the Loan Documents which would release Shah from his obligation under the Guaranty, and (4) Wells Fargo was entitled to an award of interest. Finding no error by the trial court, we affirm.
NFP criminal opinions today (2):
Posted by Marcia Oddi on May 15, 2014 10:55 AM
Posted to Ind. App.Ct. Decisions