Westernbank D&Os Lose Review Bid In $176M FDIC Suit

Law360, Chicago (December 13, 2012, 2:17 PM EST) -- 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.

The directors and officers had argued that U.S. District Judge Gustavo A. Gelpí should take another look at the Oct. 23 ruling that rejected several motions to dismiss because the court erroneously applied a three-year limitations period to the allegations against them and incorrectly...
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