Nat’l Title Agency LLC v. JPMorgan Chase Bank NA, 2018 UT App 145 (July 27, 2018)
Jul 27, 2018
The plaintiff sued a bank for releasing funds in a trust account that belonged to the plaintiff’s clients in order to satisfy judgments against the plaintiff in two unrelated lawsuits. The district court dismissed these claims as time-barred by the applicable four-year statute of limitations. On appeal, the plaintiff argued that its claims were timely because it was not seeking recovery of the funds, but rather was seeking special or consequential damages for harms that the loss of those funds later caused. The court rejected this argument and affirmed the district court, concluding that plaintiff’s claim accrued in 2010 when it sustained the loss of the escrowed funds for which it was responsible—not in 2013 when aspects of its claimed special or consequential damages at last came to fruition.