Case docket
Federal Reserve Bank of San Francisco v. Benworth Capital Partners PR LLC — D.P.R.
Federal Reserve Bank of San Francisco v. Benworth Capital Partners PR LLC, et al. — 3 court filings in the archive from U.S. District Court for the District of Puerto Rico, filed July 10, 2024. Among them: 2 exhibits and 1 motion.
Profile: Benworth Capital Partners
Case facts
| Court | U.S. District Court for the District of Puerto Rico |
|---|---|
| Filings | 3 public filings (1 undated) |
| Filed | 2024-07-10 |
| Document types | exhibits (2), motion (1) |
| Original PDFs | 3 of 3 |
Case summary
This page holds three filings from consolidated litigation in the U.S. District Court for the District of Puerto Rico. Two are exhibits filed July 10, 2024 with the Federal Reserve Bank of San Francisco's complaint in No. 3:24-cv-01313-MAJ: Paycheck Protection Program Liquidity Facility letters of agreement, of which the January 30, 2023 letter names Banesco USA as the borrower's depository institution and is executed by Benworth's president. The third, Document 159 filed August 30, 2024 in No. 3:23-cv-01034-GMM, is a joint proposed scheduling memorandum in which the Reserve Bank, Oto Analytics, LLC and the Benworth defendants set out their separate positions. It records that the Reserve Bank commenced its action on July 10, 2024 and that the action was consolidated with the earlier Oto Analytics case.
Case at a glance
| Parties | Plaintiff-intervenor Federal Reserve Bank of San Francisco; plaintiff and defendant in intervention Oto Analytics, LLC, formerly Oto Analytics, Inc. doing business as Womply; defendants Benworth Capital Partners PR LLC, Benworth Capital Partners LLC, Bernardo Navarro and Claudia Navarro |
|---|---|
| Court and docket | U.S. District Court for the District of Puerto Rico, Civil Action No. 23-01034 (GMM) consolidated with Civil No. 24-01313 (GMM); the two exhibits bear the caption No. 3:24-cv-01313-MAJ |
| Program | Paycheck Protection Program (PPP), through the Paycheck Protection Program Liquidity Facility authorized by the Board of Governors on April 8, 2020 under section 13(3) of the Federal Reserve Act |
| Claims | The Reserve Bank's claims are not stated in the filings on this page; its complaint is not among them. The scheduling memorandum records that both plaintiffs seek similar discovery other than requests related to the PPP loan facility between the Reserve Bank and Benworth Capital Partners LLC |
| Disposition or status | Not decided in the filings on this page. The most recent document is the joint proposed scheduling memorandum of August 30, 2024, in which the parties state that they conferred on August 27 to 30, 2024 and were unable to agree, and which proposes deadlines running to May 2025 |
| Status checked | 2026-09-23 · against DOJ press releases through 2026-09-22; court docket not yet read |
What are the two exhibits?
Paycheck Protection Program Liquidity Facility letters of agreement filed as Documents 1-3 and 1-5 to the Reserve Bank's complaint. The 2023 letter is the form for non-depository institutions as amended January 14, 2021; it assigns to the Reserve Bank amounts the borrower receives in connection with facility collateral, and is signed by Bernardo E. Navarro as president. The scanned 2020 exhibit extracts only as page stamps.
What does the scheduling memorandum say?
That the parties could not agree a schedule. Oto Analytics' position states that it commenced arbitration against Benworth Capital Partners LLC on August 25, 2021 seeking unpaid fees and was awarded approximately $118 million, and that it filed this action on January 24, 2023 after learning in discovery that more than $171 million had been transferred from that entity to Benworth Capital Partners PR LLC. Those are that party's contentions.
What does the Reserve Bank say?
That its action and the Oto Analytics action involve substantially similar claims, that consolidation was intended to streamline both proceedings, and that it does not believe a second Rule 26(f) conference is necessary but has agreed to make itself available for one.
Summary written from the documents on this page; every sentence is sourced.
Filings
3 public filings from this case, in filing-date order; undated filings are listed last.
- Exhibit: PPPLF Letter of Agreement (May 4, 2020) — Frbsf v. Benworth (D.P.R., 2024-07-10, 1)Exhibit · PDF
- Exhibit: PPPLF Letter of Agreement (Jan. 30, 2023) — Frbsf v. Benworth (D.P.R., 2024-07-10, 2)Exhibit · PDF
- undatedMotion Submitting — Federal Reserve Bank of San Francisco v. Benworth Capital Partners PR LLC, et al. (Dkt. 159, D.P.R.)Motion · PDF
Court, dates and docket numbers are as recorded on the filings.