 |
 |
to fill out a simple form to connect to Personal Injury Lawyers in your area.
|
|
|
|
|
Bonfiglio v. Pamer8/23/2002
UNPUBLISHED
In this case involving the theft of monies between March 1983 through September 1995, plaintiffs appeal as of right in Docket No. 222602 from a judgment entered in their favor after a jury trial. Plaintiffs were awarded $1,671,779 in damages, which included awards for conversion, embezzlement, intentional misrepresentation, silent fraud, and breaches of contract and fiduciary duties. The award for conversion and embezzlement was trebled per instruction of the court. Following a post-judgment motion, plaintiffs were also awarded equitable relief in the amount of $1,693,412.73. In Docket No. 223998, defendant Penny Pamer appeals by leave granted, and plaintiffs have filed a cross-appeal. We have consolidated these appeals to facilitate our review. In Docket No. 222602, we affirm the circuit court's denial of plaintiffs' motions for summary disposition and sanctions. In Docket No. 223998, we affirm in part, reverse in part, and remand for a new trial limited to the issue of damages.
Background Facts
At all times relevant to this case, plaintiffs have been the owners of condominium and rental properties. From 1983 through 1995, defendants Penny and Frederick Pamer oversaw the operations of these properties, both in their capacity as officers of the Condominium Association and as the owners of M & J Realty, Inc., and M & J Realty, the management companies that managed plaintiffs' properties. Plaintiffs alleged that defendants diverted funds due the individual plaintiffs, the partnerships, and the association in excess of $450,000. Dennis Echelbarger, a certified public accountant retained by plaintiffs to account for the monies stolen, testified that the total loss, without interest, was $469,995. This included $449,939 in misappropriated funds and $20,000 in "missing items." The misappropriated funds total consisted of $278,842 in documented misappropriated funds for the years 1989 through 1995, and $171,097 in "extrapolated misappropriations" for the years 1984 through 1988. The misappropriated funds were identified as coming from Bonfiglio Properties (which at various times relevant to this appeal consisted of between 8 and 16 rental units), PBS Investments, Woodshollow Investments, Ltd. I, and Woodcreek Condominium Association.
According to the testimony, full financial records were only available for the years 1989 through 1995. To calculate the losses from 1984 through 1988, plaintiffs' CPA first calculated the average loss per year for each of the four above listed entities for 1989 through September 1995. That figure was then reduced by the Consumer Price Index for each year back through 1984. Extrapolated losses were not calculated for 1983, the year M & J Realty, Inc., first began to manage the properties. Echelbarger testified that in his expert opinion, the total losses suffered by plaintiffs up to the filing of the complaint, including interest, was $608,034.
Prior to trial, settlement was reached between plaintiffs and defendants Frederick Pamer, M & J Realty, Inc., and M & J Realty. These defendants are not part of this appeal. Additionally, just prior to commencement of trial, Pamer successfully argued that the original judge assigned to preside should disqualify himself. Thereafter, another judge was assigned and presided throughout the subsequent trial and post-trial proceedings. This same judge was also assigned to the divorce action pending between Pamer and her husband. Pamer asserts that the judge also presided at a declaratory action involving plaintiffs. This last contention is not challenged by plaintiffs.
Because resolution of the issues in Docket No. 223998 impacts our review in Doc
Page 1 2 3 4 5 6 7 Michigan Personal Injury Attorneys
Personal Injury Lawyers
|
| |
to fill out a simple form to connect to Personal Injury Lawyers in your area.
|
|
By using the system, you agree to TERMS OF SERVICE
|