Markel American Insurance v. Díaz-Santiago
Court of Appeals for the First Circuit
1Opinion of the Court
TORRUELLA, Circuit Judge.
Defendant-Appellant Michael Diaz-Santiago (“Diaz-Santiago”) 1 appeals the district court’s grant of summary judgment to Appellee FirstBank of Puerto Rico (“First-Bank”). Markel Am. Ins. Co. v. Díaz-Santiago, No. 09-1672CCC, 2010 WL 3982292 (D.P.R. Sept. 30, 2010). For the reasons stated herein, we affirm the district court’s decision.
I. Background
On October 8, 2008, MDS Caribbean Seas Limited (“MDS”), a company that Diaz-Santiago incorporated under the laws of the British Virgin Islands, purchased a vessel, the “Black Sea.” That same day, MDS executed a promissory…
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