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Cavalry Spv I, LLC v. Marc K. Krantz

May 17, 2012

CAVALRY SPV I, LLC PLAINTIFF-APPELLEE
v.
MARC K. KRANTZ DEFENDANT-APPELLANT



Civil Appeal from the Cuyahoga County Court of Common Pleas Case No. CV-734879

The opinion of the court was delivered by: Mary Eileen Kilbane, J.:

Cite as Calvary S.P.V. I., L.L.C. v. Krantz,

JOURNAL ENTRY AND OPINION

JUDGMENT:

AFFIRMED

BEFORE: Kilbane, J., Jones, P.J., and Cooney, J.

{¶1} Pro se defendant-appellant, Mark K. Krantz, appeals from the order of the trial court that denied his motion for summary judgment in a collection action brought by plaintiff-appellee, Cavalry SPV I, LLC ("Cavalry"), assignee of Citibank (South Dakota) N.A. ("Citibank"). For the reasons set forth below, we affirm.

{¶2} On August 23, 2010, Cavalry filed this action for collection on an account, alleging that defendant owes $16,255.36 on a credit card issued by Citibank, and that Cavalry is the purchaser and assignee of this debt. Cavalry also sought prejudgment interest in the amount of $19,613.03, the accumulated interest allegedly incurred due to nonpayment of the debt.

{¶3} Krantz denied liability. On July 27, 2011, he moved for summary judgment, asserting that the account belonged to Citibank, Cavalry lacked standing, Cavalry failed to provide a detailed accounting of the fees and charges and had not disclosed the material terms of the agreement, and the complaint was generally insufficient. In support of his motion for summary judgment, defendant submitted a "Citibank Credit Card Insurance Trust" that described certain Class A Notes underwritten by Citigroup, Lehman Brothers, and RBS Greenwich Capital, in connection with a Prospectus Supplement dated June 20, 2005. This document was not authenticated, and defendant did not establish that his debt is part of the Class A Notes from Citibank's Credit Card Insurance Trust.

{¶4} In opposition, Cavalry presented evidence that on February 27, 2008, it entered into a Bill of Sale, Assignment and Assumption Agreement with Citibank, through which it purchased various credit card accounts, including defendant's Citibank account. Based upon the last statement that Citibank issued to defendant on July 19, 2006, defendant owes $16,255.36 on the account and it is subject to a 24 percent annual rate of interest. Cavalry also presented evidence that defendant's account "became delinquent and was charged off on 7/19/06." As of that date, defendant owed $19,613.03 in accumulated interest on the account.

{ΒΆ5} On August 17, 2011, the trial court denied defendant's motion for summary judgment. The matter proceeded to a bench trial on Cavalry's complaint on September 19, 2011. At trial, Cavalry presented the testimony of John Spruill of Cavalry's accounts department. Spruill testified that Cavalry purchased defendant's account from Citibank on February 27, 2008. Cavalry's business records, as authenticated by Spruill, established that the present balance due on ...


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