After numerous phones calls from concerned citizens, the NPJ decided to look into some questionable filings pertaining to James Rex “Kip” Fair, Jr., who passed away Jan. 7, 2018. The calls the NPJ received raised questions of negligence on the part of the Fair Law Firm and how many people it’s affected, those known and those yet unknown.
A hearing will be held Monday, Feb. 26 at 1 pm (today) in the Natchitoches Parish Courthouse regarding a Petition for Damages, filed Feb. 1, 2018, titled: Delta Bank versus James Rex Fair Jr., APLC et al.
The defendants include the Fair Law Firm (APLC), the Estate of James Rex Fair Jr., Continental Casualty Company, and Commonwealth Land Title Insurance Company (APLC and Fair were authorized title insurance agents for Commonwealth).
According to the filing, Delta Bank retained the Fair Law Firm to perform a real estate closing consisting of an acquisition of a Burger King in St. Francisville and the refinancing of an existing Burger King in Baton Rouge.
On Nov. 20, 2017, $2 million was wired to Fair’s Client Trust account. On Nov. 29 a cash deed was executed to transfer the property in St. Francisville.
As the closing party, the Fair Law Firm had a duty to collect and safe keep the funds, but when lawyers were appointed to inventory the firm’s files, Delta Bank was informed the funds weren’t in the bank account they’d been wired to. Allegedly, evidence exists that the funds were transferred to an outside party.
The suit claims Fair was negligent on the following:
Failing to protect Delta Bank funds
Failing to deliver funds to proper party
Allowing funds to be delivered to parties not involved in transaction
Delta Bank also paid for a closing protection letter through Commonwealth, but claims it is entitled to indemnification because it never received said letter.
The Fair Law Firm had a Lawyers Proffessional Liability Policy through Continental, which requires said company to compensate Delta Bank for its losses.
READ PETITION: Delta Bank vs Fair
A Petition for Damages filed on Feb. 16, 2018 involves TTT Properties versus Continental Casualty Company and James Rex Fair Jr., APLC. TTT Properties is represented by its Manager, Taylor Townsend.
Because a succession for Fair’s Estate hasn’t been opened, nor has a succession representative been appointed, APLC is unable to pay debts owed. Because of this, TTT Properties has a right of direct action against Continental.
On Feb. 20, 2015, TTT Properties hired the Fair Law Firm to perform all legal work to perfect a sale of a certain piece of immovable property from Fair Properties LLC to TTT Properties. Unbeknownst to TTT Properties, there was a second mortgage on the property in favor of Adolph Sklar Jr. and Ann Weaver Sklar dated July 31, 2013.
The filing alleges that Fair failed to obtain partial release of the mortgage executed by Fair Properties LLC from the Sklars. TTT Properties alleges that failure to properly perform the closing of this transaction has caused and will continue to cause damages and losses as it pertains to the ownership of said property.
Also, Continental is compelled to compensate TTT Properties for the losses it has suffered.
READ PETITION: TTT Properties VS Continental Causalty Co
The Sklars filed for Executroy Process against Fair Properties LLC, et al, which was refiled March 23, 2017 to amend the original petition, titling it Supplemental and Amending Petition to Enforce Mortgage on Real Estate via Ordinaria.
The Sklars are asking for $4 million with unpaid and accrued interest of $3.3 million, a 1% keepers fee on any amount foreclosed upon, 18% interest from Feb. 1, 2017, reasonable attorney fees, a late payment of 5% on the amount due, and all costs of proceedings.
READ PETITION: Sklar V Fair
Another petition for Suit and Damages is titled: Ramson Edgar Cason, Et Ux versus The Unopened Succession of James Rex Fair Jr. This filing alleges that Fair, and now his unopened succession, is indebted to petitioners for $1 million and 10% per annum interest from Jan. 25, 2017. After Jan. 18, 2018, interest increases to 18% thereafter until paid. The suit also includes reasonable attorney fees and all costs of collection.
READ PETITION: Cason V Fair
These suits, filled with allegations of negligence, misconduct and mysterious circumstances will continue to reveal themselves in court.
Notice of Public Records