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Sanctuary Capital, LLC v. Cloud

Court of Appeal of Louisiana, Second Circuit

April 15, 2015

SANCTUARY CAPITAL, LLC, ET AL. ON BEHALF OF NORTH LOUISIANA BIDCO, LLC, Plaintiffs-Appellants
v.
RICHARD D. CLOUD, JAMES RANDOLPH GARNER, AND NORTH LOUISIANA BIDCO, LLC, Defendants-Appellees

Appealed from the Fourth Judicial District Court for the Parish of Ouachita, Louisiana. Trial Court No. 2014-1379. Honorable Hamilton Stephens Winters, Judge.

WIENER, WEISS & MADISON, By: Roger Joseph Naus, Michael Allyn Stroud, Counsel for Appellants, Sanctuary Capital, LLC, J. Bishop Johnston, W. Clinton Raspberry, Jr., MSC Two, LLC, O. A. Cannon, Jr., Nelson D. Abell, III, R. Stewart Ewing, Jr., Carolyn W. Perry, Annette Williams Carroll, Molly Williams, and Clark M. Williams, III, on behalf of North Louisiana Bidco, LLC.

HECK LAW FIRM, LLP, By: Charles Herman Heck, Sr., Charles Herman Heck, Jr., Counsel for Appellee, James Randolph Garner.

BREITHAUPT, DUNN, DUBOS, SHAFTO, WOLLESON, L.L.C., By: Robert Alan Breithaupt, Counsel for Appellees, Richard Cloud and Nephos, LLC.

WHEELIS & ROZANSKI, By: Stephen D. Wheelis, Richard Alan Rozanski, Shawn M. Bordelon, Counsel for Appellee, North Louisiana Bidco, LLC.

HENRY A. BIEDENHARN, III, Appellee, In Proper Person.

Before BROWN, DREW and GARRETT, JJ.

OPINION

Page 891

[49,766 La.App. 2 Cir. 1] DREW, J.

Plaintiffs, Sanctuary Capital, LLC, and a group of other members of North Louisiana

Page 892

Bidco, LLC (" NLB" ), appeal from a judgment sustaining an exception of prematurity and dismissing their action against NLB. For the following reasons, we reverse and remand.

NLB was organized in 1999 and licensed as a Business Industry Development Corporation to provide financing to small businesses in North Louisiana. Soon after the company was formed, its members executed a detailed operating agreement. This agreement provides, in part, for the management and control of the company; the agreement named defendants Richard Cloud and James Garner as the company's managers. Cloud, his son, and Garner control a majority ownership interest in NLB.

In September 2013, NLB, Cloud, Garner and two other companies affiliated with Cloud and Garner were sued by Craig Taylor, Inc. (" CTI" ), a company with which these defendants had engaged in business dealings. CTI demanded, among other things, a money judgment against NLB, Cloud and Garner. CTI's 185-paragraph petition alleged that Cloud and Garner ...


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