BANKRUPTCY LAW CASES

• MRCo, Inc. v. Juarbe-Jimenez

U.S. 1st Circuit Court of Appeals, March 27, 2008
MRCo, Inc. v. Juarbe-Jimenez, No. 07-1614
In an action invoking the application of Article 40.210 of Puerto Rico Insurance Code, denial and dismissal of entire case on grounds that plaintiff's claims are barred by Article 40.210 is affirmed over plaintiff's contention that: 1) its claims, being equitable in nature, are not barred by Article 40.210's proscription against "action[s] at law"; 2) Article 40.210's apparent prohibition of actions against liquidators and insolvent insurers applies only to actions germane to the liquidation proceeding itself; and 3) Puerto Rico cannot, either by statute or judicial fiat, divest federal court of its jurisdiction. Read more...