Cofine, S.A.P.I. de C.V., SOFOM E.N.R. v. Robert Sean McNish

CourtDistrict Court, D. Connecticut
DecidedFebruary 9, 2026
Docket3:25-cv-00475
StatusUnknown

This text of Cofine, S.A.P.I. de C.V., SOFOM E.N.R. v. Robert Sean McNish (Cofine, S.A.P.I. de C.V., SOFOM E.N.R. v. Robert Sean McNish) is published on Counsel Stack Legal Research, covering District Court, D. Connecticut primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Cofine, S.A.P.I. de C.V., SOFOM E.N.R. v. Robert Sean McNish, (D. Conn. 2026).

Opinion

UNITED STATES DISTRICT COURT DISTRICT OF CONNECTICUT COFINE, S.A.P.I. de C.V., SOFOM ) 3:25-CV-00475 (SVN) E.N.R., ) Plaintiff, ) ) v. ) ) ROBERT SEAN MCNISH, ) February 9, 2026 Defendant. RULING ON MOTION TO DISMISS Sarala V. Nagala, United States District Judge. This breach of contract action arises out of three loan agreements under which Plaintiff Cofine, S.A.P.I. de C.V. SOFOM E.N.R. (“Cofine”) has loaned money to McNish Marketing, Ltd., S.A. de C.V. (“MML”). Cofine asserts one count of breach of contract, alleging that Defendant Robert Sean McNish, MML’s chairman, contracted to personally guarantee repayment of the loans in the event of MML’s default, and is thus jointly and severally liable for all amounts owed by MML under the loans and related promissory notes. McNish moves to dismiss Cofine’s claim under Federal Rule of Civil Procedure 12(b)(7), asserting that Cofine failed to join an indispensable party to the action by failing to sue MML, the original borrower. In the alternative, McNish argues that this case should be dismissed under forum non conveniens, asserting that a Mexican court would be better positioned to resolve this dispute. Cofine opposes McNish’s motion. For the reasons explained below, the Court holds that Cofine did not fail to join an indispensable party, but grants McNish’s motion to dismiss on forum non conveniens grounds. I. FACTUAL BACKGROUND The Court accepts the following allegations in Cofine’s First Amended Complaint (“FAC”), ECF No. 17, as true for purposes of deciding McNish’s motions to dismiss. See Ashcroft v. Iqbal, 556 U.S. 662, 678 (2009). Cofine is a Mexican corporation. ECF No. 17 ¶ 1. McNish resides in Connecticut, and is

a citizen of the State of Connecticut for diversity jurisdiction purposes. Id. ¶ 2. Cofine alleges that the Court has subject matter jurisdiction because there is complete diversity between the parties and the amount in controversy exceeds $75,000. Id. ¶ 3. Several agreements among relevant entities and McNish are pertinent to this case: a Guaranty Agreement executed on June 24, 2021, and three Loan Agreements (together with associated promissory notes) entered into in 2023. Cofine has submitted all of these agreements to the Court in Spanish, and has included English translations of the Guaranty Agreement and the three Loan Agreements—but has not included English translations of the promissory notes that accompany the Loan Agreements. See Guaranty Agr., ECF No. 17-7 (Spanish) & ECF No. 17-8

(English); First Loan Agr. ECF No. 17-1 (Spanish) & ECF No. 17-4 (English); Second Loan Agr., ECF No. 17-2 (Spanish) & ECF No. 17-5 (English); Third Loan Agr., ECF No. 17-3 (Spanish) & ECF No. 17-6 (Spanish); First Promissory Note, ECF No. 17-9 (Spanish); Second Promissory Note, ECF No. 17-10 (Spanish); and Third Promissory Note, ECF No. 17-11 (Spanish). A. Guaranty Agreement On June 24, 2021, various relevant parties executed an irrevocable trust guaranty agreement with a right of reversion. ECF No. 17 ¶ 6. In the Guaranty Agreement, MML is identified as “Trustor and Successor Trustee”; Cofine is identified as “Primary Trustee”; Cofine’s Fiduciary Division is identified as “Fiduciary”; and Defendant McNish is identified as “Bailee.” ECF No. 17-8 at 2. Under the Guaranty Agreement, MML—who was represented in the transaction by McNish—contributed certain real estate into a trust, as security for its existing and future loan obligations to Cofine and its affiliates. See id. at 2–3. Specifically, MML contributed two parcels of land in Manzanillo, Colima, to a trust “in order to guarantee the payment” of its obligations to Cofine, the “primary trustee.” Id. at 4; McNish Decl., ECF No. 27-1 at 32 ¶ 11. This guarantee,

by its terms, extended to “any other obligation that may be acquired in accordance with the purposes of this trust.” ECF No. 17-8 at 4. MML appointed Cofine’s “fiduciary division” as the fiduciary of the trust in order to ensure that the real estate (the “Trust Property”) would guarantee full and timely payment owed under existing and future credit agreements between the parties to the Guaranty Agreement and Cofine. Id.; see also id. at 10. Pursuant to the agreement, McNish, as bailee, continued to hold “material possession” of the real estate, and could exploit it as he wished, id. at 7, 12, but MML transferred ownership of the real estate to Cofine’s fiduciary division, id. at 10–11. MML retained a right of reversion, such that ownership of the real estate would return to MML upon the satisfaction of all

of its payment obligations to Cofine. Id. at 11, 14. On the other hand, if Cofine were to notify its fiduciary division that MML defaulted on its payment obligations to Cofine, the fiduciary division was to initiate an “Extrajudicial Alienation Procedure,” id. at 13—essentially a non-judicial foreclosure process for the Trust Property. The Guaranty Agreement is governed by Mexican law. Id. at 35. According to McNish, MML and Cofine are engaged in ongoing litigation in Mexico concerning the enforceability of the Guaranty Agreement and the trust through which Cofine’s fiduciary division took ownership of the real property. ECF No. 27-1 at 32–33 ¶ 12. In that action, MML alleges that the structure of the guaranty and trust create a conflict of interest under Mexican law, because the trustee responsible for selling the Trust Property in the event of default (Cofine’s fiduciary division) is also affiliated with a beneficiary of the sale proceeds: Cofine itself. Id. On that basis, MML seeks to declare the Guaranty Agreement unenforceable in its entirety in the Mexican litigation. Id. B. Loan Agreements and Promissory Notes In addition to the Guaranty Agreement, Cofine, McNish, Cofine’s “fiduciary division,” and

MML also entered into at least three loan agreements in 2023. First, in January of 2023, the parties entered into a simple line of credit agreement under which Cofine granted MML (the “borrower”) a loan of MX$ 20,600,000. ECF No. 17 ¶ 5(a); ECF No. 17-4 at 8–9. McNish was declared the “guarantor and joint obligor” under this agreement, ECF No. 17-4 at 2, and agreed to “guarantee the obligations of the [borrower, MML] arising from this [a]greement” by signing the related promissory note, id. at 5–6, 13 (naming McNish a “Solidary Debtor” in accordance with various provisions of Mexican law). McNish therefore “guarantee[d] full compliance with the Loan repayment” and MML’s other obligations under the First Loan Agreement. Id. at 13. Cofine’s fiduciary division granted Cofine (and any other lender that might loan funds under the First Loan Agreement) a “fiduciary guarantee” over “the rights

they hold” in certain property, including the Trust Property referenced in the Guaranty Agreement. Id. at 14. Second, in June of 2023, the parties executed a substantially similar agreement under which Cofine granted MML a loan of MX$ 4,150,000, secured by a mortgage on the Trust Property owned by Cofine’s fiduciary division. See ECF No. 17 ¶ 5(b); ECF No. 17-5 at 2–4; 9. McNish was again named a guarantor and joint obligor, and agreed to guarantee MML’s obligations under the loan agreement by endorsing a promissory note. Id. at 6–7, 14. Third, in November of 2023, the parties executed a substantially similar agreement under which Cofine granted MML a loan of MX$ 7,130,000, again secured by a mortgage on the Trust Property that was owned by Cofine’s fiduciary division pursuant to the Guaranty Agreement. See ECF No. 17-6 at 7–10. Here, likewise, McNish, as joint obligor and guarantor, agreed to “guarantee the full payment of the Credit, in their own right.” Id. at 15.

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Bluebook (online)
Cofine, S.A.P.I. de C.V., SOFOM E.N.R. v. Robert Sean McNish, Counsel Stack Legal Research, https://law.counselstack.com/opinion/cofine-sapi-de-cv-sofom-enr-v-robert-sean-mcnish-ctd-2026.