Several directors and officers of Westernbank, represented by Rivero Mestre, file action against Chartis Insurance Co., to determine coverage under Westernbank’s D&O insurance policy.

On the frontlines of litigation over recent bank failures, parties are waging pitched battles over D&O insurance coverage. Andrés Rivero, M. Paula Aguila, and Charlie Whorton of Rivero Mestre, represent six directors and officers of Westernbank, a Puerto Rican bank in FDIC receivership, who have sued Chartis Insurance Co. to obtain a coverage declaration as to an FDIC investigation and potential lawsuit (Click here to see complaint). Among the cutting-edge issues presented, is the controversial and critical question of whether the FDIC-R can be deemed an insured under the Chartis D&O policy so as to excuse Chartis from providing coverage. The complaint was filed on October 6, 2011, and Chartis has yet to respond.

 

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.