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Visión En Análisis Y Estrategia, S.A. De C.V. v. Andersen

United States District Court, S.D. New York

July 24, 2015

VISIÓN EN ANLISIS Y ESTRATEGIA, S.A. DE C. V. a Mexican Corporation, and CAPITALIZA-T, SOCIEDAD DE RESPONSABILIDAD LIMITADA DE CAPITAL VARIABLE, a Mexican Corporation, Plaintiffs,
v.
KARL ANDERSEN, KENNETH A. LANDGAARD, ARTHUR L. BOWEN, WILLIAM C. COYLE, RANDY W. BAGLEY, BROCK BAGLEY, DAVID MICKELSON INSURANCE SERVICES, ERWIN LEGAL, PC, CHRISTOPHER R. ERWIN, PW INSURANCE AGENCY CORP., LEON LOWENTHAL, and MEYER GERTNER, Defendants.

Cory White, Esq., Maria C. Georgina Fabian, Esq., The International Business Law Group LLC, Chicago, IL, John J. Muldoon, III, Esq., Muldoon & Muldoon, LLC, Chicago, IL, for Plaintiffs.

Ira S. Lipsius, Esq., Lipsius-Benhaim Law, LLP, Kew Gardens, NY, For Defendants Karl Andersen, Kenneth A. Landgaard, PW Insurance Agency Corp., Leon Lowenthal, and Meyer Gertner.

Anthony Galano, III, Esq., Jordan Danforth Wolff, Esq., Ellenoff Grossman & Schole, LLP, New York, NY, For Defendants David Mickelson Insurance Services, Erwin Legal, P.C., Christopher Erwin.

Brock Bagley, Carmel, IN, Randy Bagley, Tipton, IN, Arthur L. Bowen, Boston, MA, William C. Coyle, Indianapolis, IN, Defendants Pro se.

OPINION AND ORDER

SHIRA A. SCHEINDLIN, District Judge.

I. INTRODUCTION

Plaintiffs Visión en Análisis y Estrategia, S.A. de C.V. ("Vision") and Capitaliza-T, Sociedad de Responsabilidad Limitada de Capital Variable ("Capitaliza"), bring this diversity action against numerous defendants alleging their involvement and acts of "fraud, breaches of fiduciary duties, and other tortious acts" during the "sale, management, and disposition" of plaintiffs' interests in a life insurance policy.[1] Various defendants have filed motions to dismiss on grounds that include: lack of subject matter jurisdiction, failure to join necessary parties, lack of personal jurisdiction, and insufficient service of process. For the reasons that follow, defendants Andersen, Gertner, Lowenthal, and PW's motion to dismiss for failure to join an indispensable party pursuant to Rule 12(b)(7) is granted and defendants' other motions to dismiss are moot.

II. BACKGROUND[2]

A. Parties

Plaintiff corporations Vision and Capitaliza are incorporated with their principal places of business in Mexico.[3] Plaintiffs were shareholders in Tranen Capital Alternative Investment Fund, Ltd. ("Tranen"), a private investment fund in the secondary insurance market.[4] Tranen was managed by Tranen Capital Ltd. ("Tranen Capital").[5] The two Tranen corporations were incorporated in the British Virgin Islands.[6]

The Tranen entities were founded in 2008 by defendants Kenneth A. Landgaard ("Landgaard") and Arthur L. Bowen ("Bowen").[7] Landgaard is a resident of Minnesota and Bowen is a resident of Massachusetts.[8] Karl Andersen ("Andersen") is a New York resident who was the Chief Investment Analyst at Tranen Capital during the relevant period.[9] Andersen is also the sole shareholder and manager of Stavanger Holdings, Ltd. ("Stavanger"), a corporation incorporated under the laws of Brunei.[10] Additionally, Andersen is the co-founder and Chief Analyst of Hedmark Capital, Ltd. ("Hedmark"), a Bermuda-registered company with offices in Latin American, Singapore, and the United Kingdom.[11] Hedmark is "domiciled and operates" in New York.[12]

Defendants Randy W. Bagley ("R. Bagley") and Brock Bagley ("B. Bagley"), as the founders and managers of The Leo Group, LLC ("Leo"), facilitated the transfers of assets from original owners to Tranen.[13] William C. Coyle ("Coyle") acted as an escrow agent in the "transfer of each and every policy/asset that Tranen purchased."[14] Coyle, R. Bagley, and B. Bagley reside in Indiana.[15] David Mickelson Insurance Services ("Mickelson") is a California investment advisor, life settlement broker, life settlement agent/provider.[16] Mickelson helped to find the policies that Leo would then acquire to transfer to Tranen.[17]

Erwin Legal PC ("Erwin Legal") is "located and maintains its principal place of business" in California.[18] Christopher R. Erwin ("Erwin") resides in California.[19] PW Insurance Agency Corp. ("PW") is a New York life insurance agency with its principal place of business in New York.[20] Leon Lowenthal ("Lowenthal") is a resident of New York and the Chief Executive Officer of PW.[21] Meyer Gertner ("Gertner") is also a New York resident.[22]

B. Overview of Plaintiffs' Allegations

Plaintiffs' claims revolve around the purchase of a life insurance policy in the secondary market. Plaintiffs allege that defendants, in varying capacities, engaged in a coverup as to the "true nature of the... value, rights, and/or interests that [plaintiffs] held in the [p]olicy."[23] Furthermore, plaintiffs allege that ...


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