Allied Financial, Inc. v. WM Capital Partners 53, LLC (In re Allied Financial, Inc.)

OPINION AND ORDER

MILDRED CABÁN FLORES, United States Bankruptcy Judge

Plaintiff Allied Financial, Inc. seeks to exercise its redemption right under Article 1425 of the Puerto Rico Civil Code. WM Capital Partners 53, LLC purchased the litigated credit from Scotiabank de Puerto Rico, who had acquired it from the Federal Deposit Insurance Corporation as receiver of R-G Premier Bank, a defunct financial institution. WM posits that federal receivership law preempts the right of redemption and if the Civil Code is not preempted, then Allied failed to timely reimburse the purchase price. The Court…