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15-3837 - THE HORNED DORSET PRIMAVERA INC


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15-3837 - THE HORNED DORSET PRIMAVERA INC
January 19, 2018
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OPINION AND ORDER Dated 1/19/2018: Conclusion: For the reasons herein, the Debtors Objection to Claim No. 4 Filed by the Puerto Rico Tourism Company is denied. The court concludes that the Final Agreement is governed by the IRC PR 1994, as amended, and Regulation 6549, which applies particularly to written payment agreements pursuant to Section 6127 of the IRC PR 1994, as amended.As stated above, the court also concludes that the Debtor waived the prescriptive term for collection of this particular debt pursuant to the Final Agreement, Section 6127 of the PR IRC 1994 and Section 6127-1(d)(3) of Regulation 6549. Thus, PRTC is not barred from collecting the amount of $228,072.47. Moreover, the PRTCs claim for principal, interest and surcharges from March 2004 through February 2009 and the amounts subsequent to that date are not time barred. Consequently, the PRTCs claim is a priority claim in the amount of $1,113,173.47 (principal and interests) pursuant to 11 U.S.C. §507(a)(8), and the remainder $95,316 for surcharges is a general unsecured claim.SO ORDERED. Signed on 1/19/2018. (RE: related document(s)174, 253, 272, 289, 298, ).(ZAYAS BUJOUVEN, DARHMA)
July 27, 2018
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OPINION AND ORDER: After considering the relevant facts and applicable legal provisions of the Puerto Rico Civil Code, Puerto Rico Mortgage and Property Registry act of 1979, the Real Property Registry Act of 2015, and the Bankruptcy Code as explained above, the Court finds and concludes as follows: This court finds that ITC violated the automatic stay provisions of section 362(a)(4) when it filed the Instancia (document) by which it requested the Property Registrar to alter the ranks of the liens and subordinate the Debtors deed of usufruct (lien) to that of one of the mortgages, meaning that the Debtors real property rights were altered resulting in its usufruct lien having an inferior rank without requesting relief from the automatic stay from the Bankruptcy Court. Moreover, ITC did not obtain the consent of the Debtor, as an affected titleholder pursuant to Article 151 of the prior mortgage law which was the one in effect at the time. The court holds that the ministerial act exception does not apply to the instant case. The Property Registrar acted upon the Instancia or document filed and proceeded to alter the ranks. The court concludes that ITCs actions are void and therefore have no effect. Therefore, the actions taken by the Property Registrar altering the ranks of the liens are also void. The Debtors Motion for Civil Contempt for Violation of the Automatic Stay Injunction against ITC for a willful violation of the automatic stay under 11 U.S.C. §362(a) is granted. However, for the reasons stated herein, the court also holds that the Debtor is not entitled to its remedy (for sanctions) regarding civil contempt because the Debtor waived the same in the Stipulation with ITC, which this Court approves. The court specifically notes that the Stipulation does not prevent PRCI from pursuing any rights it deems appropriate, provided it requests and the court grants relief from the automatic stay. Signed on 7/27/2018. Order due by 8/10/2018. (RE: related document(s)308, 310, 397, 401, 412).(RODRIGUEZ RODRIGUEZ, DENNIS)