Articles Posted in Supreme Court of Appeals of West Virginia

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At issue was whether the City of Fairmont, which entered into a lease purchase agreement for equipment with Comvest, Ltd., may assert claims and defenses against Blue Ridge Bank - to whom Comvest assigned its interest in the lease purchase agreement, including its right to the City’s monthly payments - based on Comvest’s conversion of funds designated for the purchase of the equipment. The Supreme Court held (1) the Bank took its assignment subject to the City’s claims and defenses arising from Comvest’s breach of the lease purchase agreement; and (2) therefore, the City may assert claims and defenses against the Bank based on Comvest’s conversion. View "Blue Ridge Bank, Inc. v. City of Fairmont" on Justia Law

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Sue Walters filed a lawsuit against Quicken Loans, Inc., alleging that Quicken Loans violated the “illegal loan” provision of the West Virginia Residential Mortgage Lender, Broker and Servicer Act, W. Va. Code 31-17-8(m)(8), in originating a primary mortgage loan for her. A jury found in favor of Walters and awarded her damages in the amount of $27,000. Walters sued additional defendants - an appraiser and the entity that serviced the loan - with whom she settled. In total, the court offset $59,500 of the $98,000 paid by the settling defendants against the total damages, costs and fees awarded against Quicken Loans. The Supreme Court affirmed in part, reversed in part and remanded, holding that the circuit court (1) did not err in allowing the illegal loan claim to go to the jury, as section 31-17-8(m)(8) applies to a single primary mortgage loan; (2) did not err in ruling that Walters was a prevailing party and thus entitled to an award of fees and costs; (3) erred in offsetting only a portion of the settlement monies received from the settling defendants against the total compensatory damages received by Walters. View "Quicken Loans, Inc. v. Walters" on Justia Law

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Robert Perry was issued a Citibank MasterCard account in 1998. The terms and conditions of the Citibank Card Agreement governing Perry’s account included an arbitration agreement. In 2010, Citibank filed a debt collection action against Perry seek to recover the balance owed on Perry’s account. In 2015, Perry filed an answer to Citibank’s complaint and a class counterclaim alleging that Citibank had violated the West Virginia Consumer Credit and Protection Act. Thereafter, Citibank filed a motion asking the court to compel arbitration of the parties’ claims. The circuit court concluded that Citibank had implicitly waived its right to arbitration by filing suit in circuit court and waiting nearly five years before seeking to invoke its contractual right to arbitrate. Citibank appealed. The Supreme Court reversed, holding that Citibank did not waive its right to compel arbitration in this matter. Remanded. View "Citibank, N.A. v. Perry" on Justia Law