In re: Puntas Associates LLC v. Carlos M. Muñiz Ruiz, Edna O. Muñiz Ruiz and Adaliz Muñiz Aviles

CourtUnited States Bankruptcy Court, D. Puerto Rico
DecidedOctober 29, 2021
Docket18-00127
StatusUnknown

This text of In re: Puntas Associates LLC v. Carlos M. Muñiz Ruiz, Edna O. Muñiz Ruiz and Adaliz Muñiz Aviles (In re: Puntas Associates LLC v. Carlos M. Muñiz Ruiz, Edna O. Muñiz Ruiz and Adaliz Muñiz Aviles) is published on Counsel Stack Legal Research, covering United States Bankruptcy 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
In re: Puntas Associates LLC v. Carlos M. Muñiz Ruiz, Edna O. Muñiz Ruiz and Adaliz Muñiz Aviles, (prb 2021).

Opinion

1 IN THE UNITED STATES BANKRUPTCY COURT 2 FOR THE DISTRICT OF PUERTO RICO

3 IN RE: CASE NO. 18-03123 (ESL)

4 PUNTAS ASSOCIATES LLC CHAPTER 13

5 Debtor 6 PUNTA ASSOCIATES, LLC ADV. PROC. 18-0127 7 Represented by Noreen Wiscovitch, Chapter 7 Trustee 8 Plaintiff 9 v. 10

11 CARLOS M. MUÑIZ RUIZ, EDNA O. MUÑIZ RUIZ AND ADALIZ MUÑIZ 12 AVILES

13 Defendants

14 15 OPINION AND ORDER

16 This case is before the court upon the Motion for Summary Judgment filed by the chapter 7 17 Trustee, Noreen Wiscovitch-Rentas (the “Trustee”) (Docket No. 32); the Opposition to the 18 Trustee's Request for Summary Judgment at Docket No. 32, and the Heirs Statement of Facts, 19 Memorandum of Law and Motion to Dismiss Pursuant to Rule 12(b)(6) FRCP filed by Carlos M. 20 Muñiz Ruiz, Edna O. Muñiz Ruiz, and Adalid Muñiz Ruiz, individually and as Heirs of the Estate 21 of Adalid Muñiz Aviles, referred to collectively as “Heirs of the Estate of Adalid Muñiz Aviles” (the “Muñiz Heirs”) (Docket No. 37); and the Reply to Defendants Opposition to the Trustee's 22 Motion for Summary Judgment filed by the Trustee (Docket No. 47). 23

24 Relevant Procedural History 25 26 On May 31, 2018, the Debtor, Puntas Associates LLC filed a Chapter 7 voluntary petition 27 (Docket No. 1, Lead Case, 18-03123). On schedule A/B (Lead Case, 18-03123), the Debtor listed 13,036.247 square meters located at Barrio Puntas, Rincón and listed the “current value of debtor’s 1 interest” in the amount of $75,000.00 (the “Rincón property”). On Schedule D the Debtor listed 2 Adalid Muniz Aviles & Carlos Muniz Rivera as mortgage lien holder over Parcel G included in 3 Schedule A/B, with a claim in the amount of $4,036,323.00. Page 11. A collection of monies and 4 foreclosure action in the United States District Court of Puerto Rico was listed in the Statement of 5 Financial Affairs for Non-Individuals, Part 3, line 7.1. Page 18. 6 Although the Trustee filed a Notice of Abandonment of Property and Request for Clerk to Notice, regarding the property described as “[l]and: Parcel G with a surface area of 13,036.247 7 square meters located at Bo. Puntas, Rincón” (Docket No. 10, Lead Case, 18-03123), the Trustee 8 later filed a Motion to Set Aside Notice of Abandonment and for Reconsideration Under FRBP 9 9024 (Docket No. 28, Lead Case, 18-03123). The Trustee explained that her determination “to 10 abandon the estate property was triggered because said property had no value and/or was 11 burdensome to the estate, as per Debtor’s schedules, testimony and the evidence presented in proof 12 of claim No.4 (“POC 4”) filed by Carlos M. Muñiz Ruiz, Edna O. Muñiz Ruiz and Adaliz Muñiz Aviles (“Defendant/Creditors”), which determined that, as of July 22, 2018, the Property was 13 encumbered by virtue of the pre-petition presentment of a secured mortgage in the amount of 14 $4,036,323.00.” However, the Registrar, Mr. Gilden S. Caro Pérez, issued a notice for correction 15 on July 31, 2018, which expired on October 1, 2018, without any corrective action by the notary. 16 Therefore, the presentation made on May 29, 2007, lost its seat in the Registry. Furthermore, on 17 October 2, 2018, the notary withdrew the mortgage deed and claimed a credit for the government 18 stamps paid upon presentation. On January 22, 2019, the Muñiz Heirs filed their Opposition to Motion to Set Aside Notice of 19 Abandonment and for Reconsideration under Federal Rule 9024 (No. 28 and 29) and 20 Memorandum of Law in Support Thereof (Docket No. 59, Lead Case, 18-03123). They alleged 21 that they possessed a pre-petition “interest [over the property object of their lien]” under sections 22 362(b)(3) and 546(b)(1)(A). The federal statutory term “interest in property” is “[][i]nequivalent 23 (sic) to, and broader than,” the term “lien.” See Soto Rios v. BPPR (1st Cir. 2011) and that “the 24 acts performed to perfect the appearing creditors’ security interest post-petition, if any, are 25 exempted from the automatic stay pursuant to 362(b)(3) and were performed pursuant to Puerto Rico Mortgage Law to pursue and perfect the appearing creditors’ pre-petition interest over the 26 mortgage property. That interest is based in basic principles of the 14th Amendment to the 27 Constitution of the United States.” After several substantive and procedural events, on October 5, 2021, the court entered an 1 Opinion and Order granting the Trustee’s request for revocation of the abandonment pursuant to 2 Fed. R. Civ. P. 60(b)(6), made applicable to bankruptcy through Fed. R. Bank. P. 9024 (Docket 3 No. 154). 4 On November 12, 2018, the Chapter 7 Trustee filed this Complaint and Objection to Claim 5 (Docket No. 1). The Trustee objected proof of claim no. 4 filed by the Defendants, the Muñiz 6 Heirs, which includes as a basis of its security interest a Mortgage Note and consented judgment of foreclosure, and a secured claim in the amount of $3,918,232.50. Although the proof of claim 7 includes as a supporting document the mortgage note presented for registration in the Property 8 Registry on May 29, 2007, the Registrar notified a fault in the presentation, and the notary failed 9 to correct said fault. Therefore, the Trustee argues that upon the filing of the petition, there was no 10 valid security interest encumbering the property. The document lost its prepetition ranking, and 11 the lien ceased to exist. “Pursuant to Section 363(p)(2) of the Bankruptcy Code, an entity asserting 12 an interest in property has the burden of proof on the issue of the validity, priority, or extent of such interest.” The Trustee argues that the Creditors’ alleged security interest was not validly 13 perfected pursuant to Puerto Rico Law and therefore Defendant’s alleged liens, if any, are 14 unsecured in at least $2,313,000.00. 15 The Trustee further clarifies that although once abandoned, the property was no longer 16 property of the estate pursuant to 11 U.S.C. § 362(c)(1) and the automatic stay imposed against 17 the Debtor's Property by section 362(a)(2) and section 362(a)(3) terminated; the stay imposed by 18 section 362(a)(5) and section 362(a)(6) continued to apply to any act to create, perfect or enforce a lien against "property of the debtor" until the case is dismissed or closed, or discharge is granted 19 or denied. Citing In re Vicente, 446 B.R. 26 (Bankr. D. Mass. 2011). 20 “…[O]n October 3, 2018, the very same 2007 mortgage deed was willfully and illegally 21 presented in the Property Registry for a second time, despite having full knowledge of the filing 22 of Debtor’s Chapter 7 voluntary petition.” The Trustee alleges that the acts of the Defendants 23 constitute a violation of the automatic stay. Additionally, the Trustee requests the court, pursuant 24 to Rule 65 of the Federal Rules of Civil Procedure, made applicable to bankruptcy proceedings 25 through Rule 7065 of the Federal Rules of Bankruptcy Procedure, to enter a preliminary injunctive relief and cautionary notice against the Defendant, prohibiting any transaction regarding the 26 Property. 27 On January 23, 2019, the Defendants answered the Complaint.

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In re: Puntas Associates LLC v. Carlos M. Muñiz Ruiz, Edna O. Muñiz Ruiz and Adaliz Muñiz Aviles, Counsel Stack Legal Research, https://law.counselstack.com/opinion/in-re-puntas-associates-llc-v-carlos-m-muniz-ruiz-edna-o-muniz-ruiz-prb-2021.