McAvoy v. Super. Ct.
Randall and Trudy McAvoy in their capacity as trustees of a family trust (McAvoys) owned a commercial building (property) that housed their carpentry studio (business) and four tenants. McAvoys sold the property and business to Charles Hughes, who formed two entities Charvania Investments LLC (Charvania), and Willster Construction, Inc. (Willster) for the transaction. In June 2004, Charvania bought the property for $2.7 million, and Willster bought the business for $750,000. The buyers deposited cash and obtained Small Business Administration (SBA) loans through Community Bank, and McAvoys carried back secured notes on the property and business. Let a peremptory writ of mandate issue directing the superior court to vacate its order denying the motion for summary judgment, to reconsider the motion, and to enter an order in compliance with statute. McAvoys are entitled to costs in the writ proceeding. This opinion is made final immediately as to this court. (Cal. Rules of Court, rule 8.264(b)(3).)
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