Birchwood-Manassas Assocs., LLC v. Birchwood at Oak Knoll Farm, LLC

Plaintiff was an LLC formed to own, develop, and sell real estate. Defendants were two entities formed to develop and sell real estate under the management and control of two of Plaintiff’s managers. The managers transferred funds from Plaintiff to Defendants, which used the funds to develop and sell their respective properties. Plaintiff was later dissolved, and a liquidating trustee appointed by the circuit court demanded the immediate repayment of the money owed by Defendants to Plaintiff. Plaintiff then filed an amended complaint against Defendants alleging breach of contract, unjust enrichment, and breach of fiduciary duty and seeking the imposition of constructive trusts on Defendants’ respective properties and proceeds from the sale of their properties. The circuit court granted Defendants’ plea in bar and dismissed the amended complaint, concluding that the complaint was time barred. The Supreme Court affirmed, holding that Plaintiff did not prove its entitlement to the tolling of the statute of limitations. View "Birchwood-Manassas Assocs., LLC v. Birchwood at Oak Knoll Farm, LLC" on Justia Law