Puerto Rico Bondholders Can’t Compel Payment During Bankruptcy, First Circuit Says

March 29, 2019

Puerto Rico Bondholders Can’t Compel Payment During Bankruptcy, First Circuit Says

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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Opinion Link

View Opinion

https://s3.amazonaws.com/abi-opinions/18-1165P-01A.pdf

Case Details

Judge Name

Juan R. Torruella

Case Citation

Assured Guaranty Corp. v. Financial Oversight and Management Board for Puerto Rico (In re Financial Oversight and Management Board for Puerto Rico, as Representative for the Puerto Rico Highways and Transportation Authority), 18-1165 (1st Cir. March 26, 2019)

Case Name

In re Financial Oversight and Management Board for Puerto Rico, as Representative for the Puerto Rico Highways and Transportation Authority

Case Type

Business

Court

1st Circuit

Bankruptcy Tags

Bankruptcy Litigation