Bright Green Corporation v. Fikany

CourtUnited States Bankruptcy Court, D. New Mexico
DecidedJune 6, 2025
Docket25-01010
StatusUnknown

This text of Bright Green Corporation v. Fikany (Bright Green Corporation v. Fikany) is published on Counsel Stack Legal Research, covering United States Bankruptcy Court, D. New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Bright Green Corporation v. Fikany, (N.M. 2025).

Opinion

UNITED STATES BANKRUPTCY COURT DISTRICT OF NEW MEXICO

In re: BRIGHT GREEN CORPORATION, No. 25-10195-j11 a Delaware corporation,

Debtor. BRIGHT GREEN CORPORATION,

Plaintiff, v. Adversary No. 25-1010-j

JOHN FIKANY,

Defendant.

MEMORANDUM OPINION REGARDING THE MOTION TO ABSTAIN AND REMAND THIS ADVERSARY PROCEEDING TO STATE COURT This matter is before the Court on the Motion to Abstain from Exercising Jurisdiction over New Mexico Lawsuit and to Remand Lawsuit Back to the Thirteenth Judicial State District Court of New Mexico (“Motion to Abstain and for Remand” – Doc. 4) filed by Defendant John Fikany. The Court held a final evidentiary hearing on the Motion to Abstain and for Remand on May 28, 2025. The Court will abstain from exercising jurisdiction and remand this adversary proceeding to state court. BACKGROUND This background is derived from the allegations in Debtor’s amended complaint filed in the State Court Action (defined below) and the statement of facts in Mr. Fikany’s Motion to Abstain and for Remand (Doc. 4) and are undisputed. It is provided as background for the Court’s findings of fact, set forth below, which are based on the evidence presented at a hearing held on May 28, 2025. Bright Green Group of Companies of New Mexico Inc. (“Bright Green Group of Companies”) applied for a New Mexico medical marijuana license in or around April 2015 but later withdrew the application. The Stockwells have also been involved other Bright Green entities, including Bright Green Grow Innovations, LLC. Bright Green Corporation was incorporated in 2019. To differentiate Bright Green Corporation from other entities with names that include “Bright Green,” the Court will refer to Bright Green Corporation as “Debtor.” A business plan was developed to construct large greenhouse facilities for growing and

researching medicinal plants, the production and sale of cannabis products for pain management, and the manufacture and sale of health drinks, oils, and other products in compliance with federal law. A plan was developed to lease land from the Acoma Pueblo, a federally recognized tribal entity, to construct a much larger greenhouse facility (the “Acoma Pueblo Project”) to produce and export federally legal cannabis, cannabis extracts, and THC. Debtor currently owns property in Grants, New Mexico, on which certain greenhouse facilities had been constructed. However, Debtor has never operated those greenhouse facilities and is not currently generating any income. FACTS1 The relevant facts are primarily related to the pending state court action for which

abstention and remand is sought, Bright Green Corporation vs. John Fikany, D-1333-CV-2020- 0023 (the “State Court Action”), and the procedural history of this adversary proceeding (the “Adversary Proceeding”) and the Debtor’s related chapter 11 bankruptcy case, Case Number 25- 10195-j11 (the “Bankruptcy Case”). (Bk Doc. 1).2

1 At the evidentiary hearing on May 28, 2025, the Court heard testimony and admitted documentary exhibits. It also took judicial notice of the dockets in the Bankruptcy Case and the Adversary Proceeding, as well as the documents filed on the dockets. Findings of fact in this section not accompanied by a citation to exhibits or documents on the record are based on the testimony at the hearing. 2 References to “Bk Doc. __” are references to the docket number of documents filed in Debtor’s Bankruptcy Case (No. 25-10195-j11). References to “AP Doc. __” are references to the docket number of documents filed in this Adversary Proceeding (No.25-1010). - 2 - 1. The State Court Action On October 23, 2020, Debtor commenced the State Court Action before the New Mexico District Court in the Thirteenth Judicial District by filing a complaint against Mr. Fikany seeking a declaratory judgment. (Exhibits A, N). Debtor filed an Amended Complaint for Declaratory Judgment (the “Amended Complaint”) on January 22, 2021. (Exhibits A, N). The Amended

Complaint is the operative complaint. In short, the Amended Complaint alleges there was an oral agreement (the “Agreement”) between John Stockwell, that Mr. Fikany would (1) become the Chief Executive Officer of Bright Green Group of Companies “with the main goal of completing” the Acoma Pueblo Project, and (2) be compensated, conditioned on completion of the transaction with the Acoma Pueblo, with among other compensation, a $500,000 annual salary, a $1,000,000 bonus, and 5,000,000 shares in Bright Green Group. (Exhibit A). The Amended Complaint alleges that in or around late May 2019 Bright Green Grow Innovations, LLC merged with Bright Green Corporation with the resulting corporate survivor being Bright Green Corporation (the Debtor). Id. Debtor seeks a declaratory judgment that (i) there never was an agreement entitling Mr. Fikany to become a shareholder of Debtor, (ii) Mr. Fikany never became a shareholder of Debtor, (iii) Mr.

Fikany “did not fulfill and satisfy the agreed upon and express conditions precedent to earn the compensation [contemplated by the Agreement] by failing to complete the Acoma Pueblo Project and obtaining all necessary licenses and approvals needed to operate the hemp and cannabis growing operation” and (iv) Mr. Fikany is not entitled to any stock in Debtor. Id. Mr. Fikany filed a jury demand, an answer to Debtor’s Amended Complaint, counterclaims against Debtor, and third-party claims against Lynn Stockwell and John Stockwell in March 2021.3 Id. The facts relevant to Mr. Fikany’s claims against Debtor and his claims against Lynn Stockwell

3 The Court will refer to Debtor and the Stockwells collectively as “Debtor/Stockwells.” - 3 - and John Stockwell are inextricably interwoven. See (Exhibit B, pages 25-40). In his claims against Debtor and the Stockwells, Mr. Fikany asserts he is entitled to compensatory, punitive, and/or statutory damages under the following theories: (1) wrongful termination in violation of public policy, (2) unpaid wages under N.M.S.A. 1978, § 50-4-4(A), (3) breach of employment contract, (4) promissory estoppel, (5) fraud in the inducement, (6) breach of the duty of good faith and fair

dealing, (7) negligent misrepresentation, (8) constructive trust, (9) breach of personal guarantee, and (10) breach of contract. (Exhibit B; State Court Pretrial Order, Doc. 21-10). The parties actively litigated the State Court Action from October 2020 to April 2024. The parties engaged in extensive discovery, including written discovery involving thousands of documents and over a dozen depositions, and litigated motions to compel discovery, a motion in limine, a motion to strike Debtor/Stockwells’ expert, cross motions for summary judgment by Debtor/Stockwells and Mr. Fikany, and a motion for partial summary judgment. (Exhibit N). After a pretrial conference, the State Court entered a Pretrial Order setting a five-day trial consisting of 1) a bench trial on Debtor’s Amended Complaint seeking a declaratory judgment against Mr.

Fikany and any other claims for equitable relief, and 2) a separate a jury trial on Mr. Fikany’s claims (all for legal relief). (State Court Pretrial Order, Doc. 21-10). In the Pretrial Order, Debtor listed 29 specific exhibits it anticipated presenting at trial, and listed three “will call” witnesses and nine specific “may call” witnesses. Id. Mr. Fikany anticipated presenting 96 specific exhibits and listed six “will call” and 1 “may call” witnesses. Id. Although the entire trial—including the bench and jury trials—was anticipated to require five days, the bench trial alone took five days, beginning on Thursday, April 18, 2024, and continuing through Wednesday, April 24, 2024. (Exhibit N). At the bench trial, the State Court

- 4 - admitted over 100 exhibits. After the bench trial, the parties submitted closing briefs and proposed findings of fact and conclusions of law. Id.

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