Leonite Fund I, LP v. Hawaii Brewery Development Co., Inc.; Waiakea Bottling Inc.; Waiakea Inc; and Marcus I Bender

CourtDistrict Court, D. Colorado
DecidedJanuary 7, 2026
Docket1:25-cv-01371
StatusUnknown

This text of Leonite Fund I, LP v. Hawaii Brewery Development Co., Inc.; Waiakea Bottling Inc.; Waiakea Inc; and Marcus I Bender (Leonite Fund I, LP v. Hawaii Brewery Development Co., Inc.; Waiakea Bottling Inc.; Waiakea Inc; and Marcus I Bender) is published on Counsel Stack Legal Research, covering District Court, D. Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Leonite Fund I, LP v. Hawaii Brewery Development Co., Inc.; Waiakea Bottling Inc.; Waiakea Inc; and Marcus I Bender, (D. Colo. 2026).

Opinion

IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLORADO

Civil Action No. 25-cv-01371-STV

LEONITE FUND I, LP,

Plaintiff,

v.

HAWAII BREWERY DEVELOPMENT CO., INC.; WAIAKEA BOTTLING INC.; WAIAKEA INC; and MARCUS I BENDER,

Defendants. ______________________________________________________________________

ORDER ______________________________________________________________________

Entered by Chief Magistrate Judge Scott T. Varholak This matter is before the Court on Defendants Waiakea Bottling Inc.’s and Waiakea Inc.’s Motion to Dismiss Plaintiffs’ First Amended Complaint for Lack of Personal Jurisdiction (the “Waiakea Motion to Dismiss”) [#14] and Defendants Hawaii Brewery Development Co. Inc.’s and Marcus Bender’s Motion to Dismiss for Insufficient Service of Process and Lack of Personal Jurisdiction (the “HBDC Motion to Dismiss”) [#36] (collectively, the “Motions”). The Motions are before the Court on the Parties’ consent to have a United States magistrate judge conduct all proceedings in this action and to order the entry of final judgment. [##42, 46] This Court has carefully considered the Motions and related briefing, the entire case file, and the applicable case law, and has determined that neither oral argument nor an evidentiary hearing would materially assist in the disposition of the Motions. For the following reasons, the Motions are GRANTED. I. FACTUAL BACKGROUND1 Plaintiff Leonite Fund I, L.P. alleges that Defendants Hawaii Brewery Development Co. Inc. (“HBDC”), HBDC’s principal Marcus I. Bender (“Bender”), and Waiakea Bottling Inc. and Waiakea Inc. (collectively, “Waiakea”) unlawfully interfered with Plaintiff’s ability

to collect a debt owed by Hawaiian Springs LLC (“HSLLC”) and HSW Holding Corporation (“HSW”) (collectively, the “Borrowers”). [#1 at ¶¶ 1-7] The Borrowers’ water-bottling business is subject to a court-ordered receivership estate administered by Receiver Robert L. Stevens pursuant to an order entered in a related action in this District. Leonite Fund I, LP v. Hawaiian Springs, LLC, et. al, No. 1:24-cv-00149-NYW-STV (the “Underlying Receivership Action”). Plaintiff alleges that Defendants’ conduct at issue in the instant action was aimed at disrupting the receivership and harming Plaintiff’s debt- collection rights. [#1 at ¶¶ 1-7] According to the Complaint, HSLLC-HSW’s right to occupy and operate from the bottling premises derives from a long-term lease relationship with HBDC. [Id. at ¶¶ 21-

30] On or around November 20, 2006, HSLLC-HSW became HBDC’s tenant through an assignment of an original June 1, 2001 lease between HBDC and Hawaiian Natural Water Company Inc. (“HNWC”). [Id. at ¶ 21] Defendant Bender signed the original 2001 lease in his capacity as President of both the lessor (HBDC) and the lessee (HNWC). [Id.] The lease term runs through September 30, 2044, with an option to extend through September 30, 2094, and HBDC promised HSLLC-HSW quiet enjoyment of the premises. [Id. at ¶¶

1 The facts are drawn from the allegations in Plaintiff’s Complaint (the “Complaint”) [#1], which for purposes of Defendants’ Rule 12(b)(2) challenge, the Court accepts as true to the extent they are uncontroverted by Defendants’ affidavits. Wenz v. Memery Crystal, 55 F.3d 1503, 1505 (10th Cir. 1995). 22-23] The lease, which contains a mandatory arbitration provision, permits HBDC to extract water from the well for brewing beer or manufacturing beverages other than natural water, but only to the extent that such extraction does not interfere with or restrict the lessee’s business. [Id. at ¶¶ 24-25] The leased property consists of approximately

seven acres at 16-305 Volcano Road, Kea’au, Hawaii, including improvements such as a commercial water bottling plant, a water well, pumping equipment, and related infrastructure used for onsite bottling operations. [Id. at ¶¶ 27-28] In 2023, the landlord- tenant relationship became the subject of eviction and breach-of-contract proceedings initiated by HBDC in Hawaii state court. [Id. at ¶¶ 29-30] Prior to those eviction proceedings, however, in September 2022, Plaintiff entered into a secured lending relationship with HSLLC and HSW. [Id. at ¶¶ 31-35] Specifically, the Complaint alleges that on September 28, 2022, Plaintiff loaned funds to HSLLC and HSW under a senior secured promissory note in the principal amount of $1,578,947.37 (purchase price $1,500,000), disbursed in tranches including an initial $650,000 payment,

with $400,000 designated for inventory and working capital. [Id. at ¶¶ 32-33] Plaintiff further alleges that the promissory note entitled Plaintiff to the appointment of a receiver upon default, and that HSLLC and HSW contemporaneously executed a pledge and security agreement granting Plaintiff a security interest in collateral. [Id. at ¶¶ 34-35] The promissory note was amended on March 20, 2023. [Id. at ¶ 36] Either before or after that amendment, but at some point after the Hawaii eviction proceedings began, Plaintiff advanced additional funds to HSLLC-HSW intended, among other things, to cure rent arrears and other obligations to HBDC. [Id. at ¶ 30] On December 13, 2023, Plaintiff issued a notice of default advising HSLLC and HSW that they were in default and that $2,254,323.58 was due, and that the default entitled Plaintiff to seek appointment of a receiver as a matter of right under the promissory note and security agreement. [Id. at ¶ 37] Plaintiff alleges that it was

concerned that if HSLLC failed to meet its obligations under the lease or otherwise, HSLLC would lose access to its sole source of water and collapse operationally and financially, causing substantial harm to stakeholders including Plaintiff. [Id. at ¶ 38] Thereafter, on December 26, 2023, HSW, as sole manager of HSLLC, unanimously consented to the irrevocable appointment of a receiver. [Id. at ¶ 39] And on January 1, 2024, HSLLC, HSW, and Plaintiff agreed Colorado law would govern their agreements and that venue for disputes would lie in Colorado state and federal courts. [Id. at ¶ 40] Thus, on January 18, 2024, Plaintiff filed the Underlying Receivership Action in this District against HSLLC and HSW and moved under Federal Rule of Civil Procedure 66 to appoint Robert L. Stevens as a receiver. [Id. at ¶¶ 41-42] Plaintiff alleges that it sought

a receivership, in part, because it believed HSLLC’s assets, including access to the spring water, were at risk if the Borrowers were evicted by their landlord, and that Plaintiff also sought to stay the Hawaii eviction litigation. [Id. at ¶ 43] On February 1, 2024, United States District Judge Nina Y. Wang granted the motion and appointed Stevens as Receiver, finding the Borrowers were in danger of “waste, eviction, loss, and further litigation,” thereby staying proceedings against HSLLC and HSW including the Hawaii eviction litigation. [Id. at ¶ 44] The Complaint alleges that at the time of the appointment, HSLLC was faltering and behind on numerous obligations, and that the Receiver sought to restore power to the facility and resume bottling operations to maximize estate value and position the Borrowers for an acquisition. [Id. at ¶¶ 45-46] According to the Complaint, beginning in April 2024, Defendants interfered with the receivership and the bottling operation. [Id. at ¶¶ 47-60] The Complaint alleges that

on April 21, 2024, the Receiver traveled to Hawaii and met with plant manager Ken Tokuda, and on April 22, 2024, the Receiver conducted a site visit and spoke with Defendant Bender. [Id. at ¶¶ 47-48] Plaintiff alleges that during the site visit the Receiver hired a locksmith to change the locks, and that two individuals identified as Waiakea employees approached the locksmith in a threatening and intimidating manner. [Id.

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Leonite Fund I, LP v. Hawaii Brewery Development Co., Inc.; Waiakea Bottling Inc.; Waiakea Inc; and Marcus I Bender, Counsel Stack Legal Research, https://law.counselstack.com/opinion/leonite-fund-i-lp-v-hawaii-brewery-development-co-inc-waiakea-cod-2026.