Futura Development of Puerto Rico, Inc. v. Estado Libre Asociado De Puerto Rico

TORRUELLA, Chief Judge.

In an earlier proceeding, the predecessor of plaintiff Futura Development of Puerto Rico, Inc. (“Futura”) obtained a judgment against the Cooperative Development Company (“CDC”), a public corporation and instrumentality of the Commonwealth of Puerto Rico, in the amount of $12,266,000. See U.S.I. Properties Corp. v. M.D. Construction Co., 860 F.2d 1 (1st Cir.1988). After CDC failed to satisfy the judgment, Futura brought this suit seeking a determination that CDC was an alter ego of the Commonwealth of Puerto Rico, and that, as a de facto party to the earlier litigation,…