Justice Robert McDonald
Plaintiffs sought damages based on a failed 1987 real estate investment with Skydell in this action for claims of fraud and conversion. Skydell sought dismissal arguing the claims were barred by res judicata as plaintiffs already obtained a judgment against him for the claims alleged. He also argued plaintiffs lacked standing to bring the suit as they previously assigned their claims to another party, Sales, and they were bared by the applicable statute of limitations. Skydell executed two confessions of judgment regarding the investments in the name of plaintiffs. Sales thereafter purchased all of plaintiffs’ judgments, including all other claims against Skydell. Skydell claimed plaintiffs received over $1 million, thus refused to pay plaintiffs additional money when requested in 2012. The court found plaintiffs’ fraud, conversion and breach of contract claims were all barred by the applicable statutes of limitations. Further, it noted copies of the judgments indicated the amounts sued for were previously paid, finding plaintiffs failed to refute such fact. Also, the court found plaintiffs had no standing to seek payment for the investments they sold to Sales, including "any and all claims, asserted or unasserted" against Skydell, granting dismissal.
