ST. JOE CO. v. NRHA

Record No. 102342.

722 S.E.2d 622 (2012)

283 Va. 403

The ST. JOE COMPANY v. NORFOLK REDEVELOPMENT AND HOUSING AUTHORITY.

Supreme Court of Virginia.

March 2, 2012.


Attorney(s) appearing for the Case

Thomas B. Kelly (Bowman Green Hampton & Kelly, on briefs), for appellant.

W. Ryan Snow ( Amy McClure ; Crenshaw, Ware & Martin, on brief), for appellee.

Present: All the Justices.


OPINION BY Justice S. BERNARD GOODWYN.

In this appeal, we consider whether the circuit court erred in imposing a constructive trust on funds removed from a debtor's operating account, by a secured creditor with a perfected interest in the account, when those funds were entrusted to the debtor in its capacity as the agent of a third party.

Background

Norfolk Redevelopment and Housing Authority (NRHA) filed a complaint against the St. Joe Company ...

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