Banco Popular requests the intervention of the Supreme Court in the dispute with Félix “Tito” Trinidad

Lawyers from Banco Popular de Puerto Rico has filed an application with the Superior Court to set aside a judgment of Judge Anthony Cuevas Ramos to transfer some money to the accounts of the former world boxing champion, Félix “Tito” Trinidad.

It is the last resort for the financial institution to resolve a controversy that began in mid-2020, when it stopped payments as part of a 2014 agreement.

In November last year, Cuevas Ramos decided that Banco Popular should deposit $ 720,000 in a 24-hour period into a personal account in Trinidad, as well as interest accrued at a rate of 4.5%. They were also called to send $ 444,800, in addition to interest at a rate of 4.5%, to another Oriental Bank account for a total of $ 1,184,800.

However, Banco Popular’s legal case asked the Court of Appeal to stop the payments on the grounds that Cuevas Ramos’ decision was “wrong”. Two of the three judges ruled “no seat”, while Judge Grace Grana Martínez voted against. Even so, the institution underwent a reconsideration, which also failed.

Therefore, he is now going to the Supreme Court. However, this is not the first time that Banco Popular has requested the intervention of the high court. In the two previous periods, the judges chose not to intervene in the case, validating the judgments of the Court of First Instance of San Juan..

“We have 10 days to present our arguments in writing, which will be practically the same. In the previous two periods, the Supreme Court has chosen not to intervene and we will see if the same thing happens this time, “said Eric Questglas, a lawyer in Trinidad.

Trinidad and Banco Popular agreed in 2014 that the money transfers would be made on a monthly basis to cover mortgage payments and, in addition, personal expenses. Banco Popular claims that the balance that generated interest in complying with the agreement has been exhausted. In March 2020, he terminated the agreement, which was eventually overturned by Judge Cuevas Ramos.

The controversy has nothing to do with the lawsuit Trinidad filed in 2014 to recover some of the wealth it accumulated during its rental boxing career. Multiple former world champion claims that he was not adequately informed when he transferred the balance sheets and a line of credit amounting to $ 20 million from Wells Fargo to Banco Popular.