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INTERNATIONAL INS. v. CAJA NAC. DE AHORRO Y SEGURO

No. 01-3054.

293 F.3d 392 (2002)

INTERNATIONAL INSURANCE COMPANY, Plaintiff-Appellee, v. CAJA NACIONAL DE AHORROY Y SEGURO, Defendant-Appellant.

United States Court of Appeals, Seventh Circuit.

Decided June 7, 2002.

Attorney(s) appearing for the Case

James I. Rubin, R. Douglass Bond (argued), Randi L. Ellias, Butler, Rubin, Saltarelli & Boyd, Chicago, IL, for plaintiff-appellee.

James P. DeNardo (argued), McKenna, Storer, Rowe, White & Farrug, Chicago, IL, Jorge W. Moreira, New York, NY, for defendant-appellant.

BEFORE: MANION, KANNE, and WILLIAMS, Circuit Judges.

MANION, Circuit Judge.

After a default award was entered against defendant Caja Nacional de Ahorro y Seguro ("Caja") in arbitration proceedings, International Insurance Company ("IIC") filed a petition in federal district court seeking to confirm the award. After Caja filed an answer and affirmative defenses, IIC moved for an order requiring Caja to post pre-judgment security. Caja responded that it was immune from posting such security under the Foreign Sovereign...

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