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PUERTO RICO FARM CREDIT v. ECO-PARQUE DEL TANAMÁ

No. 19-1367.

30 F.4th 72 (2022)

PUERTO RICO FARM CREDIT, ACA, Plaintiff, Appellee, v. ECO-PARQUE DEL TANAMÁ CORP.; Iván Ortiz-Ruiz; Ana María Serrano-Báez; Conjugal Partnership Ortiz-Serrano, Defendants, Appellants.

United States Court of Appeals, First Circuit.

March 28, 2022.

Attorney(s) appearing for the Case

Bámily López Ortiz , with whom Lopez Toro was on brief, for appellants.

Mauricio O. Muñiz-Luciano , with whom Ignacio J. Labarca-Morales and Marini Pietrantoni Muñiz LLC were on brief, for appellee.

Before Lynch and Kayatta, Circuit Judges, and Laplante, District Judge.

When a borrower is in default for failure to satisfy its payment obligations under a loan, the borrower may prefer that the lender agree to restructure the loan rather than foreclose on the collateral securing the loan. If the loan is subject to the Farm Credit Act (FCA), the lender is sometimes required to restructure the...

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