March 31, 2015
A Puerto Rican federal judge on Monday signed off on a $34 million settlement between a group of insurers and the Federal Deposit Insurance Corp., ending the regulator's claims seeking $176 million from former executives of Westernbank Puerto Rico.
July 09, 2014
A Puerto Rico federal judge on Wednesday rejected insurers' attempts to apply an insured v. insured exclusion to the Federal Deposit Insurance Corp.'s claims seeking $176 million from former executives of Westernbank Puerto Rico, while expanding coverage in a policy year the insurers argued was out of reach.
December 13, 2012
A federal judge declined on Wednesday to reconsider an earlier ruling that preserved the Federal Deposit Insurance Corp.'s claims seeking $176 million from directors and officers of Westernbank Puerto Rico, saying the court correctly tolled the time limit on the FDIC's claims.
October 24, 2012
A Puerto Rico federal judge refused Tuesday to toss the Federal Deposit Insurance Corp.'s claims seeking $176 million from directors and officers of Westernbank Puerto Rico and demanding enforcement of their D&O insurance policies, finding the regulator alleged enough details for its gross negligence claims to proceed.
April 12, 2012
Executives and directors of the now-defunct Westernbank Puerto Rico asked a federal judge Wednesday to dismiss a $176 million Federal Deposit Insurance Corp. suit accusing the group of gross negligence in its handling of loans prior to the bank's closure in 2010.