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Merrill Ranch Props. LLC v. Austell

The plaintiff lacked standing under the Uniform Fraudulent Transfers Act to set aside transfers non-judgment debtors made following the entry of a judgment in favor of the plaintiff on a loan default.

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Appellant Merrill Ranch Properties, LLC Plaintiff or Appellant brought suit1 against appellees2 seeking, among other things, to set aside certain transfers and conveyances that Plaintiff contends were made in violation of Georgia’s Uniform Fraudulent Transfers Act, OCGA § 18-2-70 et seq. the UFTA.3 The trial court granted summary judgment to appellees, and Plaintiff filed this appeal. We now affirm in part, reverse in part, and remand for further proceedings as more fully set forth below.

The underlying facts, although somewhat complex and confusing,4 are largely undisputed.5 In 2006, the Peoples Bank of Winder, Georgia Peoples Bank extended a $100 million revolving line of credit the Loan to WHM Merrill Ranch Investments LLC the Borrower. The Loan was evidenced by a Loan Agreement dated September 28, 2006 and a Promissory Note executed of approximately even date herewith; it was secured by certain real property located in Arizona. The Loan was guaranteed by real estate developer W. Harrison Merrill Harrison Merrill and eight trust entities6 he controlled collectively Guarantors. In addition to Peoples Bank, numerous other banks held participation interests in the Loan.

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