Porto Rico Telephone Co. v. Descartes

Porto Rico Telephone Company, hereinafter referred to as Rico Telco, is a corporation organized under the laws of Delaware. It has an office in San Juan and is authorized to do business in Puerto Rico where it is engaged in the operation of a telephone service as a public utility. International Telephone and Telegraph Corporation, hereinafter referred to as ITT, is a corporation organized under the laws of Mary*848land. It has an office in the city of New York and is the owner of 99.84% of the capital stock of Rico Telco. ITT has no office or place of business in Puerto Rico.

In 1940 Rico Telco…