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.
December 11, 2019
The city of San Juan unsuccessfully argued that the PROMESA Oversight Board has no fiscal control over municipalities in Puerto Rico.
October 16, 2019
The justices recognized the practical effects of the decision they will make on Puerto Rico and precedent that could undermine the governance of territories and Washington, D.C.
September 30, 2019
Appeals court says that the bankruptcy court must always address the existence of a trust when ruling on a motion to modify the automatic stay.
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.