Figueroa Tower I v. U.S. Bank Nat. Assn. CA2/5

INTRODUCTION

Plaintiffs and appellants Figueroa Tower I, LP, Figueroa Tower II, LP, and Figueroa Tower III, LP (plaintiffs) brought an action against defendants and respondents U.S. Bank National Association (the Bank)1 and Witkin & Eisinger (collectively defendants) asserting seven causes of action based on actions defendants took in enforcing the provisions of a promissory note (Note) and a deed of trust. The trial court sustained without leave to amend defendants’ demurrer to five of plaintiffs’ causes of action. It granted defendants’ motion for summary judgment as to plaintiffs’ two remaining causes of action as well as to two of the causes of action as to which it had already sustained defendants’ demurrer. On appeal, plaintiffs challenge the trial court’s demurrer ruling as to two of their causes of action and its summary judgment ruling. We reverse the trial court’s ruling on defendants’ demurrer and its ruling on defendants’ summary judgment motion except as to one of plaintiffs’ causes of action.

BACKGROUND

In 2006, plaintiffs executed the Note in favor of German American Capital Corporation (GACC) in the principal sum of $62 million. The Note had a maturity date of…