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CITIBANK v. GRUPO CUPEY, INC.

No. 03-1974.

382 F.3d 29 (2004)

CITIBANK, Plaintiff, and Grupo Catalán De Inversiones, S.A., Plaintiff, Appellant, v. GRUPO CUPEY, INC., and Ramón Mac-Crohon, Defendants, and American International Insurance Company of Puerto Rico Defendant, Third Party-Plaintiff-Appellee, and Juncos Al Construction Corp.; Juan Ramón García-Patrón; Nydia Enid González; Conjugal Partnership García-González; Al Auto Sales, Inc.

United States Court of Appeals, First Circuit.

Decided August 30, 2004.

Attorney(s) appearing for the Case

Juan Ramón Cancio, with whom Rodney W. Colon-Ortiz and Cancio Covas & Santiago, LLP, were on brief, for appellant.

Francisco Rosa Silva, with whom Juan J. Hernández-López de Victoria, Juan A. Ortiz-Cotto and Rosa-Silva, Rosa-Domenech & Hernández-López de Victoria, PSC, were on brief, for appellee.

Before LYNCH and LIPEZ, Circuit Judges, and STEARNS, U.S. District Judge.

LIPEZ, Circuit Judge.

This case requires us to resolve a dispute over the provision of a surety bond that limits the surety's liability to the original beneficiaries named in the bond. In the midst of litigation between the surety and one of the named beneficiaries, the beneficiary assigned its interests under the bond to a third party. The district court allowed the third party to take the place of the beneficiary in the litigation, but then dismissed the third party...

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