No. 19-1096

Multiventas y Servicios, Inc., et al. v. Oriental Bank

Lower Court: Puerto Rico
Docketed: 2020-03-06
Status: Denied
Type: Paid
Tags: credit-default-swap due-process foreclosure foreclosure-standing jurisdiction mortgage-securitization note-ownership promissory-note securities-law securitization standing standing-to-sue ucc-section-3 ucc-section-8 uniform-commercial-code
Key Terms:
ERISA DueProcess JusticiabilityDoctri
Latest Conference: 2020-05-15
Question Presented (AI Summary)

Whether the plaintiff lacks standing to sue for collection of monies and foreclosure when the plaintiff is neither owner, nor holder, nor possessor of the promissory note

Question Presented (from Petition)

QUESTIONS PRESENTED 1. In an action for collection of monies and foreclosure where the plaintiff is neither owner, nor holder, nor possessor of the promissory note, if the plaintiff lacks standing to sue? 2. If the plaintiff lacks standing, the Court lacks jurisdiction; if the Court lacks jurisdiction, the dismissal of the complaint is due because the case is not justiciable; in the absence thereof, if it is appropriate to provide relief from Judgment? 3. Is a plaintiff who has no standing in an action is subject to a jurisdictional dismissal since (i) courts have jurisdiction only over controversies that involve the plaintiff, (ii) a plaintiff found to lack “standing” is not involved in a controversy, and (iii) the courts therefore have no jurisdiction of the case when such plaintiff purports to bring it? 4. Whether, in accordance with Uniform Commereial Code (UCC) regulations, the plaintiff in an action for collection of monies and mortgage foreclosure can be the owner, holder or possessor of a promissory note (defined and regulated by UCC Section 3) that has been converted—along with other hundreds or thousands of promissory notes—into a new kind of instrument called Securities (defined and regulated by UCC Section 8) after the process of Securitization?

Docket Entries

2020-05-18
Petition DENIED.
2020-04-22
DISTRIBUTED for Conference of 5/15/2020.
2020-03-03
Petition for a writ of certiorari filed. (Response due April 6, 2020)

Attorneys

Multiventas y Servicios, Inc., et al.
Grace Monge-La FosseMonge La Fosse, Attorneys & Counselors at Law, PSC, Petitioner
Grace Monge-La FosseMonge La Fosse, Attorneys & Counselors at Law, PSC, Petitioner