Administracion de Compensacion por Accidentes de Automoviles v. INVESCO Real Estate Fund II

847 F. Supp. 2d 323, 2012 WL 957546, 2012 U.S. Dist. LEXIS 39584
CourtDistrict Court, D. Puerto Rico
DecidedMarch 22, 2012
DocketCivil No. 11-1706 (FAB)
StatusPublished

This text of 847 F. Supp. 2d 323 (Administracion de Compensacion por Accidentes de Automoviles v. INVESCO Real Estate Fund II) is published on Counsel Stack Legal Research, covering District Court, D. Puerto Rico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Administracion de Compensacion por Accidentes de Automoviles v. INVESCO Real Estate Fund II, 847 F. Supp. 2d 323, 2012 WL 957546, 2012 U.S. Dist. LEXIS 39584 (prd 2012).

Opinion

OPINION AND ORDER1

FRANCISCO A. BESOSA, District Judge.

Before the Court is plaintiff Administración de Compensación por Accidentes de Automóviles’ (“ACAA”) motion to remand this case to the Commonwealth court, (Docket No. 11) and defendants’ opposition (Docket No. 17). For the reasons set forth below, plaintiffs motion is GRANTED and the Court REMANDS this case to the Commonwealth court.

DISCUSSION

I. Background

A. Facts

Plaintiff ACAA is a public corporation of Puerto Rico. (Docket No. 7-1, pp. 1-2, ¶ 1.) Go-defendant INVESCO Institutional N.A., Inc. (“IIN”) is a “foreign corporation with principal offices in Atlanta, Georgia.” Id. at p. 2, SI 3. Co-defendant INVESCO Real Estate Fund II, L.P. (“INVESCO LP”) is a limited partnership of the state of Delaware. Id. at SI 2. Plaintiff ACAA alleges that in 2002, IIN managed its investment portfolio. Id. at p. 3, ¶ 5. Around [325]*325the same time, IIN presented ACAA with an opportunity to invest in INVESCO Real Estate Fund I. Id. at ¶ 6. Prior to investing in the fund, ACAA amended its investment policy to allow capital investment in real estate. Id. at ¶8. The investment policy provides, however, that ACAA may only invest a maximum of seven percent of its total investment portfolio in real estate. Id. at ¶ 9. ACAA alleges that the defendants were aware of ACAA’s real estate investment limits. Id. at pp. 3-4, SI 10. On October 7, 2007, ACAA joined INVESCO LP. Id. at p. 4, ¶ 14. On that date, ACAA entered into a Subscription Agreement and agreed to make a ten-million-dollar contribution. Id.

On May 19, 2011, INVESCO LP served ACAA with a capital demand notice requesting a two million dollar contribution on or before June 9, 2011. Id. at p. 5, ¶ 18. ACAA claims that the contribution would exceed its real estate investment policy were it to comply with that request. Id. at SI 19. ACAA alleges that it notified INVESCO LP on June 3, 2011 that it would not make the contribution pursuant to its rights under Section 3.8(a) of the Agreement of Limited Partnership. Id. at pp. 5-7, ¶¶21, 22. Section 3.8(a) provides a limited partner with a Limited Opt-Out Right. (Docket No. 12-1, p. 26.) This right affords limited partners the option not to participate in “one or more Portfolio Investments and in any item of income, gain, loss, deduction, credit or distribution ____” Id. According to ACAA, INVESCO LP has not responded to its letter announcing its decision to opt out of the capital contribution. (Docket No. 7-1, p. 8, ¶ 24.)

B. Procedural History

On June 17, 2011, plaintiff ACAA sued INVESCO LP and IIN in the Puerto Rico Court of First Instance, San Juan Superior Division (Civil No. KPE ll-2442[907]). (Docket No. 7-1.) ACAA sought a declaratory judgment to validate its right to elect the Limited Opt-Out Right. Id. at p. 8, ¶ 26. ACAA also sought a preliminary injunction pending the issuance' of the declaratory judgment. Id. On July 20, 2011, defendants removed the case to this Court, alleging that federal jurisdiction was present (1) because' defendant INVESCO LP was a nominal defendant, and as such, its citizenship should be disregarded when determining diversity of the parties, (2) because this Court has original jurisdiction and, (3) because the statutory requirements for removal were met. (Docket No. I, pp. 2-10.)

Subsequently, plaintiff ACAA filed a motion to remand the case to the Commonwealth court on August 23, 2011. (Docket No. 11.) ACAA argues that (1) complete diversity does not exist because INVESCO LP is a resident of Puerto Rico, (2) INVESCO LP was not fraudulently joined,2 (3) INVESCO LP is not a nominal party, and (4), a forum selection clause restricts jurisdiction to the Commonwealth courts. Id. at pp. 4-8.

On September 9, 2011, the defendants filed an opposition to plaintiffs motion to remand, responding that (1) there is complete diversity between the real parties in interest and (2) the forum selection clause does not preclude removal. (Docket No. 17.) The Court will address each argument in turn.

II. Standards

A. Removal

A defendant may remove a case to federal court only when the action could [326]*326have originally been filed in federal court. 28 U.S.C. § 1441. When a notice of removal is presented, “defendants have the burden of showing the federal court’s jurisdiction.” See, e.g., Danca v. Private Health Care Sys., 185 F.3d 1, 4 (1st Cir. 1999) (citing BIW Deceived v. Local S6, 132 F.3d 824, 831 (1st Cir.1997)). If there are any doubts about the propriety of the removal, however, “all doubts should be resolved in favor of remand.” Boyer v. Snap-on Tools Corp., 913 F.2d. 108, 111 (3d Cir.1990) (quoting Steel Valley Auth. v. Union Switch and Signal Div., 809 F.2d 1006, 1010 (3d Cir.1987)).

B. Federal Diversity Jurisdiction

Federal courts have original jurisdiction over cases where the “matter in controversy exceeds the sum or value of $75,000 and is between” diverse citizens. 28 U.S.C. § 1332. Removal based upon “diversity jurisdiction requires complete diversity of citizenship.” ConnectU LLC v. Zuckerberg, 522 F.3d 82, 91 (1st Cir. 2008) (internal citation omitted). The burden to demonstrate federal jurisdiction rests upon the party that asserts it. Bull HN Info. Sys. v. Hutson, 229 F.3d 321, 328 (1st Cir.2000).

The Court will first determine if the plaintiffs claim satisfies complete diversity. Then the Court will determine if INVESCO LP is a nominal defendant. Finally, the Court will consider if the forum selection clause mandates the forum for the claim. As an initial matter, the Court finds that the plaintiffs claim meets the requisite amount in controversy because the amount is not disputed by the parties. See Esquilin-Mendoza v. Don King Prods., Inc., 638 F.3d 1, 4 (1st Cir.2011) (citing Barrett v. Lombardi, 239 F.3d 23, 30 (1st Cir.2001) (“[T]he amount specified by the plaintiff controls, as long as that amount is asserted in good faith.”)).

III. Legal Analysis

A. INVESCO LP is a Citizen of Puerto Rico

The plaintiff first argues that defendant INVESCO LP is a citizen of'Puerto Rico and thus complete diversity does not exist. (Docket No. 11.) The defendants do not dispute INVESCO LP’s citizenship. (Docket No.

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Bluebook (online)
847 F. Supp. 2d 323, 2012 WL 957546, 2012 U.S. Dist. LEXIS 39584, Counsel Stack Legal Research, https://law.counselstack.com/opinion/administracion-de-compensacion-por-accidentes-de-automoviles-v-invesco-prd-2012.