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Rochelle's Daily Wire

April 22, 2020

District court invalidates expenditures adopted by the Puerto Rico legislature that were not approved by the PROMESA Oversight Board.

March 30, 2020

The First Circuit shows no inclination to allow creditors to bust out of the PROMESA restructuring of Puerto Rico’s debt.

February 4, 2020

Employer contributions to Puerto Rico’s retirement system did not qualify as ‘special revenues,’ with the result that bondholders’ liens were cut off on the filing date.

January 13, 2020

Supreme Court let a First Circuit opinion stand that barred bondholders from compelling payment during Puerto Rico’s restructuring under PROMESA.

October 8, 2019

California judge sides with former Bankruptcy Judge Steven Rhodes by holding that the U.S. Trustee does not have statutory power to appoint an unsecured committee in a chapter 9 case.

August 6, 2019

Dissenter in the First Circuit recommends that the Supreme Court hear and reverse an opinion allowing Puerto Rico to withhold payments from bondholders.
Dissenter in the First Circuit recommends that the Supreme Court hear and reverse an opinion allowing Puerto Rico to withhold payments from bondholders.

June 26, 2019

The logical court to challenge the constitutionality of PROMESA isn’t the PROMESA court itself.
The logical court to challenge the constitutionality of PROMESA isn’t the PROMESA court itself.

March 29, 2019

First Circuit interprets chapter 9 and PROMESA to permit but not compel payments to special revenue bondholders during debt arrangement proceedings.

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