Oregon Public Employees' Retirement Board v. Simat, Helliesen & Eichner

This complex, factually dense case concerns the construction of an aircraft maintenance facility at Portland International Airport (PDX) and the financing of a start-up company to operate that facility. Defendants Michael Reinbold and David Simon, developers of the combined project, appeal from a trial court judgment in favor of plaintiff, the Oregon Public Employees’ Retirement Board (OPERB), which guaranteed the bonds that financed the project. Plaintiff cross-appeals. On appeal, we: (1) reverse the judgment against both Reinbold and Simon on plaintiffs fraud claim; (2) affirm the judgment…