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Federal Deposit Insurance Corporation

2012 | Cited 0 times | S.D. Florida | October 28, 2012
g
contractual signors on behalf of corporations could
sued in their individual capacities for any causes of
This Document Cites the Following relating to the contract, including breach of contrac
Cases: tellingly, Plaintiff has not provided the Court with e
single case interpreting the Act to apply to breach-
contract claims. The Court declines Plaintiff's invit
be the first to do so.

Therefore, Plaintiff must pierce the corporate veil i

hold Rafael Ubieta personally liable for LORU's all
breach. As a result, Plaintiff must set forth facts ind
that LORU was "formed or used for some illegal, fr
Citation is not available at this or other unjust purpose which justifies piercing of [
time. Please check back later. corporate veil." Dania Jai Alai Palace, Inc. v. Sykes,
2d 1114, 1121 (Fla. 1984) (citation omitted). Plaintiff
Complaint, however, is deficient in this respect and
come close to satisfying the pleading standard of R
R. Civ. P. Thus, because Plaintiff has not alleged su
much less any, facts to suggest that the Court shou
disregard the corporate form and allow Plaintiff to
Rafael Ubieta liable in his individual capacity for L
alleged breach of contract, its breach-of-contract cl
against Ubieta is dismissed without prejudice.
This case is cited by:
IV. Conclusion

For the foregoing reasons, the portions of Defendan

Motion to Dismiss or for a More Definite Statemen
Incorporated Memorandum of Law [D.E. No. 8] rem
a er Defendants' filing of their Reply in support of
Motion to Dismiss or for a More Definite Statemen
supra at note 4) is GRANTED. It is hereby ORDERE
ADJUDGED that Counts I and II are dismissed with
Citation is not available at this
prejudice against Defendant Rafael Ubieta and Cou
time. Please check back later.
V, and VI are dismissed with prejudice.

Copies: The Honorable Barry S. Seltzer, Chief Unite

Magistrate Judge Counsel of Record

1. A purchase-money mortgage, as the term is used here,

funds that BankUnited loaned to borrowers Leopoldo Silv
Garcia earmarked for the purchase of real property. Bac

2. The loan-to-value ratio is calculated by dividing the mo

amount by the appraised value of the property. See Defini
Loan-To-Value Ratio, Investopedia (October 15, 2012),

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