Acadia Resources, Inc. v. VMS, LLC

[¶ 1] Acadia Resources, Inc., appeals from a judgment of the District Court (Portland, Woodman, J.) dismissing its fraudulent transfer complaint as having been filed outside the applicable statute of limitations. Because we agree with Acadia that the court should have treated the motion to dismiss filed by VMS, LLC, and VEI, LLC, as a motion for summary judgment, we vacate the judgment and remand the matter for further proceedings.

[¶ 2] In April 2016, Acadia filed a complaint against VMS and VEI alleging the following facts. Acadia agreed to lend VMS money through a line of credit on or about…