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SARRAGA v. GIROD VELA & CO., INC.

Civ. No. 85-2076 GG.

649 F.Supp. 11 (1986)

Jose F. SARRAGA, Plaintiff, v. GIROD VELA & CO., INC., et al., Defendants.

United States District Court, D. Puerto Rico.

June 3, 1986.

Attorney(s) appearing for the Case

Ruben T. Nigaglioni, Ledesma, Palou & Miranda, Hato Rey, P.R., for plaintiff.

Dina L. Biblin, Trial Atty., Torts Branch, Civil Div., U.S. Dept. of Justice, Washington, D.C., for FDIC in its corporate capacity.

Raúl E. González Diaz, González & Alonso, Hato Rey, P.R., for FDIC in its receivership capacity.

OPINION AND ORDER

GIERBOLINI, District Judge.

This case has its genesis in the failure of Girod Trust Company (the Bank). On August 16, 1984, the Secretary of the Treasury of Puerto Rico determined that the Bank was insolvent and placed it in receivership pursuant to 7 P.R. Laws § 201. On that same date, the Federal Deposit Insurance Company (FDIC) was appointed receiver and liquidator of the Bank and accepted such appointment pursuant to 12 U.S.C....

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