Orlando Fernandez Franco and Ana C. Fernandez v. Cooperativa de Ahorro y Credito de la Policia (Policoop); Corporacion para la Supervisión y Seguro de Cooperativas de Puerto Rico (Cossec); John Doe, Jane Doe & Richard Roe d/b/a San Anton Diversified, Inc. and/or San Anton Properties

CourtUnited States Bankruptcy Court, D. Puerto Rico
DecidedMarch 23, 2007
Docket05-00214
StatusUnknown

This text of Orlando Fernandez Franco and Ana C. Fernandez v. Cooperativa de Ahorro y Credito de la Policia (Policoop); Corporacion para la Supervisión y Seguro de Cooperativas de Puerto Rico (Cossec); John Doe, Jane Doe & Richard Roe d/b/a San Anton Diversified, Inc. and/or San Anton Properties (Orlando Fernandez Franco and Ana C. Fernandez v. Cooperativa de Ahorro y Credito de la Policia (Policoop); Corporacion para la Supervisión y Seguro de Cooperativas de Puerto Rico (Cossec); John Doe, Jane Doe & Richard Roe d/b/a San Anton Diversified, Inc. and/or San Anton Properties) 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
Orlando Fernandez Franco and Ana C. Fernandez v. Cooperativa de Ahorro y Credito de la Policia (Policoop); Corporacion para la Supervisión y Seguro de Cooperativas de Puerto Rico (Cossec); John Doe, Jane Doe & Richard Roe d/b/a San Anton Diversified, Inc. and/or San Anton Properties, (prb 2007).

Opinion

2 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF PUERTO RICO 4 5 IN RE: 6 || ORLANDO FERNANDEZ FRANCO : Case No. 89-05309(ESL) ANA C, FERNANDEZ : 7 : Chapter 7 Debtors. : 8 : 9 : ORLANDO FERNANDEZ FRANCO : 10 | ANA C. FERNANDEZ : Adv. Proc. No. 03-00214 Plaintiffs 12 : Violation of Automatic Stay; vs. : Declaratory Judgment; 13 : Fraud Action; COOPERATIVA DE AHORRO Y CREDITO : Intentional Infliction of 14 | DE LA POLICIA (POLICOOP); : Emotional Distress; 15 CORPORACION PARA LA SUPERVISION : Injunctive Relief and Y SEGURO DE COOPERATIVAS DE : Damages 16 || PUERTO RICO (COSSEC); JOHN DOE, : JANE DOE & RICHARD ROE d/b/a SAN : 17 | ANTON DIVERSIFIED, INC. and/or SAN : 18 ANTON PROPERTIES :

19 Defendants : 20 OPINION AND ORDER

79 This case is before the court on the Motion for Partial Dismissal (Docket No. 36) filed on 23 || February 23, 2006 by co-defendant Corporacién para la Supervision y Seguro de Cooperativas de 24! Duerto Rico (“Cossec”), on its behalf and in its capacity as liquidating trustee of Cooperativa de 25 Ahorro y Crédito de la Policia (“Policoop”). Cossec moved for the partial dismissal of the above 26 captioned adversary proceeding based, in part, on the Plaintiffs’ lack of standing to pursue a

9g || claim not scheduled as property of the estate and Plaintiffs failure to file the complaint within the statute of limitations period. After careful consideration of the arguments presented and for the

1 |] reasons stated below, this court hereby grants the Motion for Partial Dismissal. 2 Procedural Background On September 23, 2005 Orlando Fernandez Franco and Ana C, Fernandez filed the

5 present adversary proceeding against Cossec, Policoop, J ohn Doe, Jane Doe & Richard Roe d/b/a

6 || San Anton Diversified, Inc. and/or San Anton Properties for violation of automatic stay; 7 || declaratory judgment; fraud action; intentional infliction of emotional distress; injunctive relief 8 and damages. The Complaint relates that back in 1988 Mr. Orlando Fernandez Franco and Ms. Ana C. Fernandez (the “Plaintiffs”) owned a residence located at Calle Arroyo #C-4, Urb. El Remanso, Rio Piedras, Puerto Rico, encumbered by two liens, the first in favor of Doral

12 || Mortgage and the second in favor of First Federal Savings Bank. At that time, Plaintiffs owed 13 || on their mortgages, the amount of $89,150 to Doral Mortgage, and the amount of $24,445 to

[4 |! First Federal Savings Bank. It is alleged in the Complaint that the property was worth around I $110,000 to $115,000. The Plaintiffs sought the refinancing of the debt with Policoop. . Tn 1988 Policoop loaned the Plaintiffs approximately $92,000, which was distributed in

ig the following way: $20,000 on a Golden Certificate in Plaintiffs’ name and held as guarantee for

19 || the loan; $3,600 in “administrative costs”; $920 to appraiser Humberto Benitez for the appraisal 20 || which valued the property at $195,000, and $67,400 to Saint Anton Properties and/or San Anton 21 Diversified. It is alleged in the complaint that co-defendants John Doe and Jane Doe were two officials, agents, representatives and/or high employees from co-defendant Policoop involved in

Saint Anton Properties and/or San Anton Diversified. After receiving the amount of $67,400

5 || Saint Anton, through John Doe, on Novembet 3, 1988, issued a check in the amount of 26 || $24,445.26 payable to First Federal to liquidate in full the second mortgage. Allegedly, Saint 27 || Anton and/or John Doe and/or Jane Doe and/or Policoop unlawfully retained the balance of 28 ~2-

1 || approximately $43,000. 2 After the refinancing with Policoop, Plaintiffs’ combined monthly payment for the two ° mortgages encumbering their property was $2,000. By 1989 the Plaintiffs were in arrears in both

mortgages and filed a petition under Chapter 7 of the Bankruptcy Code; Case No. 89-

6 || 05309(ESL). The discharge order was entered on September 21, 1990.' The complaint provides 7 || that on or about 1990 Policoop was put into receivership and managed by a trustee “due to the 8 Il serious financial condition it was left after co-defendants San Antén and/or John Doe and/or Jane ° Doe and/or Richard Roe and/or Policoop had created a repeated fraudulent scheme over which they were accused, found guilty and sentenced by the Federal District Court for the District of

12 || Puerto Rico.” Complaint, Docket No. 1, page 9. Co-defendant Cossec, a governmental 13 || corporation, obtained all outstanding assets as liquidating trustee of Policoop pursuant to Law 14 | 114 of August 17, 2001, 15 The Complaint further provides that after the discharge in 1990, Plaintiffs realized the circumstances surrounding their second mortgage with Policoop and they met with Policoop’s

18 legal representatives; Cancio, Nadal & Rivera. Copy of a letter written by attorney Alejandrina 19 || Rivera Vicente to Mr. Angel R. Virella, Director of the Department of Collections of Policoop, 20 || dated June 3, 1991, was attached to the Complaint.” The letter alludes to a meeting held on 21 March 23, 1991, with Plaintiffs’ legal representation, Mr. Porrata Doria (Plaintiffs’ attorney in the present case), in which Plaintiffs alleged being the victims, as many others, of Policoop’s

©. ! Plaintiffs’ personal liability to Policoop was discharged upon the entry of the discharge 29 ll order pursuant to 11 USC § 727 (b). 26 2 Ty her letter to Mr. Virella Ms. Rivera Vicente makes reference to another letter given by 27 || Mr. Porrata Doria during their meeting, which she states, is attached thereto. However, this 08 attachment was not included with Ms, Rivera Vicente’s letter attached to the Complaint in the instant

-3-

1 || “business”. In the letter, Ms. Rivera Vicente recommends Plaintiffs’ settlement offer but advises 2 that before a settlement is reached they must confirm that Plaintiffs only received the amount paid to First Federal to cancel their second mortgage from Policoop.

5 On August 27, 1991 the Plaintiffs again filed a bankruptcy petition, Case No. 91-05748,

6 || this time, under Chapter 13 of the Bankruptcy Code. The case was dismissed on February 20, 7 || 1992 upon motions to dismiss filed by both Policoop and HF Mortgage Bankers prior to the 8 | confirmation of the plan. ° HF Mortgage, holder of the first mortgage, filed a foreclosure action before the Superior Court of Puerto Rico San Juan Part, Case No. KCD92-0301 and by January of 1993 the property

12 || bad been sold through a judicial auction to HF Mortgage. On May 27, 1994 Policoop filed a 13 || complaint before the Superior Court of Puerto Rico against Plaintiffs herein, Case No. KCD94- 14 | 0286, requesting payment in full of the monies owed, foreclosure of the property and □□□□□□□□□□ 15 of monies. The case was voluntarily dismissed by Policoop on June 20, 1995, judgment was entered on July 5, 1995.

18 On February 12, 2004 Policoop and Cossec filed another case against Plaintiffs herein, 19 || Case No. KCD 04-0157, before the Superior Court, San Juan Part, again requesting payment in 20 || full of the amounts owed, foreclosure of the property and collection of monies. Judgment by 21 default was entered in that case on February 4, 2004, Plaintiffs herein have requested the reopening of the case to answer the complaint, but such request has been denied by the state court. 95 The Plaintiffs allege that “[c]o-defendants Policoop and Cossec’s direct and proximate 26 || resuit of their actions in violation of the Automatic Stay provisions of Section 362(a), the 27 28 “4-

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Orlando Fernandez Franco and Ana C. Fernandez v. Cooperativa de Ahorro y Credito de la Policia (Policoop); Corporacion para la Supervisión y Seguro de Cooperativas de Puerto Rico (Cossec); John Doe, Jane Doe & Richard Roe d/b/a San Anton Diversified, Inc. and/or San Anton Properties, Counsel Stack Legal Research, https://law.counselstack.com/opinion/orlando-fernandez-franco-and-ana-c-fernandez-v-cooperativa-de-ahorro-y-prb-2007.