MIAMI – The D&O Diary reported on Rivero Mestre’s representation of Westernbank’s officers and directors in their suit against Chartis to obtain coverage in the investigation, and potential lawsuit, brought by the FDIC:

“Westernbank’s directors and officers . . . on October 6, 2011, filed an action in local Puerto Rico court seeking judicial declaration that the FDIC’s claim is covered under the bank’s D&O policy. . . . According to an October 14, 2011 press release from the directors and officers’ counsel, the complaint seeks a judicial declaration with respect to “the controversial and critical question whether the FDIC-R can be deemed an insured under the Policy so as to excuse [the carrier] from providing coverage.” (Click here to see full article).

Andrés Rivero, Jorge A. Mestre, Alan H. Rolnick, M. Paula Aguila, and Charlie Whorton of Rivero Mestre represent six directors and officers of Westernbank, a Puerto Rican bank in FDIC receivership. The complaint was filed on October 6, 2011, and Chartis has yet to file a response (Click here to see complaint).

 

About Rivero Mestre LLP

Rivero Mestre, from its offices in Miami and New York, represents clients from investigation to verdict and appeal in complex business disputes in U.S. federal courts, state courts, and domestic and international arbitration proceedings. The firm’s practice focuses primarily on representing corporate and institutional clients in a broad range of complex commercial disputes including financial institution matters, intellectual property disputes, and litigation and arbitration relating to Latin American trade and investment. For more information, visit www.riveromestre.com.