FDIC Rips Insurer's Bid To Escape Puerto Rico Bank Dispute

Law360, New York (July 13, 2017, 6:31 PM EDT) -- The Federal Deposit Insurance Corp. and the directors of a failed Puerto Rico bank it is suing over alleged bad loans came together to blast the bank's insurer for its attempt to escape coverage for the suit, saying the insurer is trying to pass off dozens of separate loans as a single prior act.

The FDIC and the former directors and officers of R-G Premier Bank filed motions in opposition to XL Specialty Insurance Co.'s attempt to escape coverage under a "prior acts" exclusion, saying the company is wrongly interpreting the FDIC's suit as a single complaint about the bank's lending...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Related Sections

Case Information

Case Title

Subscribers Only

Case Number

Subscribers Only


Subscribers Only

Nature of Suit

Subscribers Only


Subscribers Only

Date Filed

Subscribers Only

Law Firms

Government Agencies

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!