Calderon et al v. Wilmington Trust Company et al

Filing 111

ORDER denying 107 Motion for Reconsideration. Signed by Judge Gustavo A. Gelpi on 11/2/11. (AH)

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IN THE UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF PUERTO RICO

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CESAR A. CALDERON-SERRA, et al.,
Plaintiffs,
v.

Civil No. 10-1905 (GAG)

WILMINGTON TRUST CO., et al.,
Defendants.

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ORDER

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Presently before the court is Plaintiffs’ motion for reconsideration (Docket No. 107). For
the foregoing reasons, the Plaintiffs’ motion is DENIED.

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Plaintiffs’ amended complaint purported jurisdiction on the Edge Act and the Trust Indenture

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Act (“TIA”). (See Docket No. 51.) The court dismissed Plaintiffs’ amended complaint (Docket No.

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51) for lack of subject matter jurisdiction because: (1) neither defendant was a nationally chartered

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institution under the Edge Act; and (2) the notes at issue were exempt from the TIA. (See Docket

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No. 105.) A second amended complaint was never before the court because leave to file one was

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denied (Docket No. 102), as was the motion for reconsideration (Docket No. 104).

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The court clarifies that, in its Opinion and Order dismissing the amended complaint (Docket

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No. 105), it mistakenly cited 15 U.S.C. § 77ddd(a)(4)(B), when in fact it meant to cite 15 U.S.C. §

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77ddd(a)(4)(A). (See Docket No. 105 at 5, L. 10.) The court notes this was a typographical error

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and its analysis followed the correct and intended statute. Immediately following the typo, the court

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quoted the exception to the TIA applicable in this case pursuant to 15 U.S.C. § 77ddd(a)(4)(A).

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SO ORDERED.

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In San Juan, Puerto Rico this 2nd day of November, 2011.

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S/Gustavo A. Gelpí
GUSTAVO A. GELPÍ
United States District Judge