Filed: Jun. 01, 2012
Latest Update: Jun. 01, 2012
Summary: MEMORANDUM DECISION AND ORDER GRANTING MOTION FOR SUBSTITUTION OF PARTIES AND AMENDMENT OF FINAL JUDGMENT BROOKE C. WELLS, Magistrate Judge. Before the Court is Plaintiff Assignee Mazuma Capital Corp. (Mazuma's) Motion for Substitution of Parties and Amendment of Final Judgment. 1 Mazuma moves pursuant to Rule 25(c) which allows for substitution of parties when a transfer of interest occurs. This Rule states: Transfer of Interest. If an interest is transferred, the action may be continued by
Summary: MEMORANDUM DECISION AND ORDER GRANTING MOTION FOR SUBSTITUTION OF PARTIES AND AMENDMENT OF FINAL JUDGMENT BROOKE C. WELLS, Magistrate Judge. Before the Court is Plaintiff Assignee Mazuma Capital Corp. (Mazuma's) Motion for Substitution of Parties and Amendment of Final Judgment. 1 Mazuma moves pursuant to Rule 25(c) which allows for substitution of parties when a transfer of interest occurs. This Rule states: Transfer of Interest. If an interest is transferred, the action may be continued by ..
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MEMORANDUM DECISION AND ORDER GRANTING MOTION FOR SUBSTITUTION OF PARTIES AND AMENDMENT OF FINAL JUDGMENT
BROOKE C. WELLS, Magistrate Judge.
Before the Court is Plaintiff Assignee Mazuma Capital Corp. (Mazuma's) Motion for Substitution of Parties and Amendment of Final Judgment.1 Mazuma moves pursuant to Rule 25(c) which allows for substitution of parties when a transfer of interest occurs. This Rule states:
Transfer of Interest. If an interest is transferred, the action may be continued by or against the original party unless the court, on motion, orders the transferee to be substituted in the action or joined with the original party. The motion must be served as provided in Rule 25(a)(3).2
Based upon the filings of Mazuma in support of its motion, the Court finds that the requirements of service under Rule 25(a)(3) have been met.3
On June 13, 2011, Ethos Environmental Inc., filed a Form 8-K with the United States Securities and Exchange Commission along with a press release noting that it had changed its corporate name from Ethos to Regeneca, Inc.4 On approximately March 9, 2012, Republic Bank Inc., assigned to Mazuma all of its rights and interests in the Final Judgment.5 Therefore, in light of the assignment of rights in this suit from original Plaintiff Republic to Mazuma, and the merger and name change of original Defendant Ethos to Regeneca, the Court finds Mazuma's request for substitution of parties under Rule 25 is well taken.
ORDER
Accordingly, for those reasons fully set forth in Mazuma's memorandum in support of its motion, finding good cause shown, and pursuant to Rule 25(c), the Court GRANTS Mazuma's Motion for Substitution of Parties and Amendment of Final Judgment. The Clerk of the Court is directed to make the necessary changes to the Final Judgment and all future pleadings are to reflect the substitutions.
