Rincon EV Realty LLC v. CP III Rincon Towers, Inc.
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In 2007, Plaintiffs borrowed $110 million from Bear Stearns to finance the purchase of a San Francisco apartment complex. In 2010, after plaintiffs defaulted, CP purchased the property at a nonjudicial foreclosure sale. Plaintiffs sued CP and others, alleging legal claims (breach of contract, fraud, slander of title, trade secret misappropriation), and equitable claims (unfair competition, to set aside the foreclosure sale, and for an accounting). Judge Miller struck plaintiffs’ jury demand based on provisions in the contracts, held a bench trial, and entered judgment for defendants. The court of appeal concluded Judge Miller erred by striking plaintiffs’ jury demand as to the legal claims, finding no error as to the equitable claims, and remanded the legal claims.
On remand, Judge Kahn held that Judge Miller’s findings in connection with plaintiffs’ equitable claim for unfair competition necessarily resolved plaintiffs’ legal claims because the substantive law allegations of the legal claims are also alleged as grounds that defendants violated the UCL. The court of appeal affirmed, rejecting arguments that after the partial reversal, plaintiffs were entitled to relitigate all factual issues relevant to the legal claims; that Judge Kahn violated the remittitur and the law of the case; that under the statutes governing judicial notice and summary judgment, Judge Kahn, could not consider the “truth” of the facts found by Judge Miller and even if Judge Miller’s findings had binding effect, those findings did not dispose of the legal claims.
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