Federal court dismisses banking dispute over lack of jurisdiction
A federal judge in Puerto Rico has dismissed a lawsuit filed by residents Manuel Ángel Vega-Bonilla and Pamela Ivette Pérez-Rivera against Fortaleza Equity Partners I LLC, citing lack of jurisdiction.
The plaintiffs, acting on behalf of their marital community property (legal conjugal partnership), had alleged violations of Puerto Rico’s Negotiable Instruments and Banking Transactions Act in connection with a disputed mortgage note. The case was originally filed in February, as previously reported by News is my Business.
The U.S. District Court concluded that it lacked jurisdiction to hear the case on either diversity or federal question grounds (i.e., parties from different jurisdictions or a significant federal legal issue). Although the plaintiffs claimed the matter arose under federal law, the court found that no substantial federal issue had been raised.
The ruling stated that the plaintiffs failed to show complete diversity between parties. Although plaintiffs claimed Fortaleza Equity was based in Delaware and New York, corporate records from the Puerto Rico Department of State indicated the company is domiciled in San Juan — placing both parties in the same jurisdiction.
The court also rejected the plaintiffs’ argument for federal question jurisdiction. Their complaint cited only Puerto Rico law and did not include a valid cause of action under any federal statute. While the Truth in Lending Act was referenced in the prayer for relief, the court noted that no actual claims were made under the law.
The court approved Fortaleza Equity’s dismissal request, which went unchallenged by the plaintiffs and dismissed the case without prejudice on July 3.
