SYNECTIC VENTURES I, LLC v. EVI CORP.

(CC 060404199; CA A139879 (Control), A142184; SC S059454).

294 P.3d 478 (2012)

353 Or. 62

SYNECTIC VENTURES I, LLC, an Oregon limited liability company; Synectic Ventures II, LLC, an Oregon limited liability company; Synectic Ventures III, LLC, an Oregon limited liability company, Plaintiffs-Appellants, Petitioners on Review, v. EVI CORPORATION, an Oregon corporation, dba Endovascular Instruments, Inc.; Synectic Ventures IV, LLC, an Oregon limited liability company; Synectic Ventures V, LLC, an Oregon limited liability company; and Synectic Asset Ventures, LLC, purportedly an Oregon limited liability company, Defendants-Respondents, Respondents on Review.

Supreme Court of Oregon, En Banc.

Decided December 20, 2012.


Attorney(s) appearing for the Case

Scott A. Shorr , Stoll Stoll Berne Lokting & Shlachter PC, Portland, argued the cause for petitioners on review. With him on the brief were Gary M. Berne , Mark A. Freil , and Roy Pulvers , Hinshaw & Culbertson LLP, Portland.

Kevin H. Kono , Davis Wright Tremine LLP, Portland, argued the cause for respondents on review. With him on the brief were Robert D. Newell and Derek D. Green .

Cody Hoesly , Larkins Vacura LLP, Portland, filed a brief on behalf of amicus curiae Oregon Trial Lawyers Association.


DE MUNIZ, J.

Plaintiff's — Synectic Ventures I, LLC, Synectic Ventures II, LLC, and Synectic Ventures III, LLC — entered into a loan agreement regarding money that they had loaned to defendant EVI Corporation. The loan agreement provided that the loan, which was secured by a security interest in essentially all of defendant's property, would be converted to equity ownership in defendant, if defendant obtained additional financing by a certain date. Shortly...

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