Myrgia M. Palacios-Cabrera

Biography

Ms. Palacios-Cabrera’s practice includes securities litigation, arbitration and mediation - including disputes related to Puerto Rico securities, closed-end funds and Puerto Rico bonds - general and complex civil and commercial litigation, contractual and distribution and franchise disputes, appellate practice, and insurance and construction litigation. 

Her practice encompasses all phases of litigation, including trial and/or arbitration in state and federal courts as well as in arbitral forums, including FINRA. Additionally, she regularly provides counseling related to estate and probate matters.

Ms. Palacios-Cabrera represents clients in the banking, finance, brokerage firms, insurance, hospitality and petroleum industries.

Prior to joining McConnell Valdés in 2011, she worked as a Senior Recruiter for a local Executive Search firm where she was in charge of all Scientific and Technical Recruitment in QA, QC, Validation, Regulatory Affairs, Engineering, Manufacturing & Technical Operation areas, serving clients in the pharmaceutical, medical device and biotech industries.  

Ms. Palacios-Cabrera received the Highest GPA Award among her class' Evening Students, as well as the Notarial Practice & Mortgage Law Awards, and served as Student Law Clerk to Judge Francisco A. Besosa in the U.S District Court for the District of Puerto Rico. She is the author of the Law Review Article “Diversity Jurisdiction in the U.S. District Court for the District of Puerto Rico: A Policy Recommendation for Modification or Abolition”, published in Volume XLV of the Interamerican University of Puerto Rico Law Review.

Representative Cases

• Represents brokerage firms in numerous FINRA arbitrations and mediations related to the purchase of Puerto Rico securities, including Puerto Rico Bonds and Closed-End Funds.
• Ismael Marrero Rolón, et al. v. PREPA, et al.: member of the litigation team representing two fuel-oil defendants in this nineteen-defendant suit filed on behalf of over 3 million PREPA customers, which is the largest mass tort civil RICO class action brought in the U.S. District Court for the District of Puerto Rico.
• Administración de los Sistemas de Retiro de los Empleados del Gobierno de Puerto Rico, et al. v. UBS Financial Services Incorporated of Puerto Rico, et al.: member of the litigation team representing defendants in this $800MM breach of contract dispute.
• Ambac Assurance Corporation v. Merrill Lynch, Pierce, Fenner & Smith Incorporated, et al.: member of the litigation team representing the underwriter defendants in this $235MM breach of contract dispute.
• National Public Finance Guarantee Corporation, et al. v. UBS Financial Services, Inc., et al.: member of the litigation team representing the underwriting defendants in this $720MM breach of contract dispute.
• The Financial Oversight and Management Board For Puerto Rico, as representative of The Commonwealth of Puerto Rico, et al., and The Financial Oversight and Management Board For Puerto Rico, as representative of The Employee Retirement System of the Government of the Commonwealth of Puerto Rico, et al.: member of the litigation team representing some of the underwriter defendants in this PROMESA Title III dispute.
• In the matter of Verde, LLC v. F&R Construction Group, Inc.: member of the arbitration team representing plaintiff in this breach of contract dispute.
• Francisco González, as beneficiary of the Royalty Fund Mechanized Cargo Local 1575, et al. v. UBS Financial Services Incorporated of Puerto Rico, et al.: member of the litigation team representing defendants in this ERISA, breach of contract and fiduciary duty suit.
• Jorge Bonilla Dávila v. UBS Financial Services Incorporated of Puerto Rico, et al., a securities fraud suit in which the court granted our client’s motion to dismiss and to compel arbitration.
• Municipio Autónomo de San Juan v. Admiral Insurance Co., et al., in which the court granted our client’s motion for summary judgment dismissing this $3MM declaratory judgment, damages and unjust enrichment suit.
• New Hampshire Insurance Company, et al. v. Luis M. García Passalacqua, et al., an indemnity action case in which the court granted our client’s motion for summary judgment for the amount of $21MM.
• Miramar Construction Company, Inc., et al. v. American International Insurance Company of Puerto Rico, et al., dismissing in favor of our client this $117MM breach of contract and damages suit.
• Betzaida Batiné Verdejo, et al. v. Transcore Atlantic, et al., a $175MM declaratory judgment, collection of monies and preliminary and permanent injunction suit in which the court granted our client’s motion to dismiss.
• Crest Energy Partners, L.P. v. Buckeye Caribbean Terminals, LLC, dismissing a $3.7MM breach of contract claim against our client and granting our client’s $1.2MM counterclaim.
• Manuel Martínez Umpierre, et al. v. Oficina del Comisionado de Instituciones Financieras, et al.: member of the litigation team which successfully represented one of the defendants in this mandamus case against the Office of the Commissioner of Financial Institutions for its refusal to provide access to non-public records.
• In the matter of Alterra America Insurance Company, as subrogee of Petro Air Corp. v. Buckeye Caribbean Terminals, LLC: member of the arbitration team in this contract dispute and arbitration before the International Institute for Conflict Prevention and Resolution, NY, NY.
• Rodolfo Catinchi v. Toyota de Puerto Rico, et al.: member of the trial team in this $14MM permanent injunction and tort case.

Practices

News & Publications