Ranes & Shine, LLC v. MacDonald Miller Alaska, Inc.
In 2005 Gordon Timmerman, sole owner of MacDonald Miller Alaska, Inc., agreed to release a claim MacDonald Miller had against Ranes & Shine, LLC, and to pay an additional $18,000 in exchange for equipment Ranes & Shine claimed to own free of any encumbrances. Five years later First National Bank Alaska contacted Timmerman, asserting a security interest in the equipment and requesting its return. First National eventually filed this suit against Timmerman in 2010 to obtain possession of the equipment. Timmerman filed a third-party complaint against Ranes & Shine and its former managing member, Thomas Ranes, asserting breach of warranty of title, misrepresentation, unfair trade practices, and common law contract claims. Ranes & Shine alleged among its other contentions that the applicable statutes of limitation barred Timmerman’s suit because First National’s publicly filed Uniform Commercial Code (UCC) financing statement should have placed Timmerman on inquiry notice of First National’s security interest in the equipment at the time of the agreement in 2005. The superior court disagreed and held Ranes & Shine liable for breach of contract and misrepresentation, while also dismissing the claims asserted against Ranes individually. Ranes & Shine appealed. After review, the Supreme Court affirmed the superior court’s statute of limitations and attorney’s fees and costs rulings, as well as various procedural rulings. But the Court reversed the superior court’s decision to dismiss the misrepresentation claim that Timmerman’s company, MacDonald Miller, had asserted against Ranes in his individual capacity, and remanded for further proceedings on that issue. View "Ranes & Shine, LLC v. MacDonald Miller Alaska, Inc." on Justia Law