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Municipal Bankruptcy

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.
Court: 
1st Circuit

Circuit Upholds Dismissal of Suits to Restrict Puerto Rico’s Use of Tax Revenue

First Circuit bars use of declaratory judgments restricting Puerto Rico’s use of tax revenues.
Court: 
1st Circuit

Automatic Stay Applies to ‘Ordinary Course’ Litigation in Puerto Rico, Circuit Holds

First Circuit finds no exceptions to the automatic stay under PROMESA subjecting Puerto Rico to ‘ordinary course’ litigation.
Court: 
1st Circuit

Act Fast on Appeal of Confirmed Plan Before Equitable Mootness

Journal Issue: 
May 2019
Bankruptcy Code: 
none
Topic Tags: 
Claims
Bankruptcy Litigation
Financial Advisors
Plan Confirmation
Practice and Procedure
Venue/Jurisdiction
Business Reorganization
Municipal Bankruptcy
Public Companies and Claims Trading
Small Business
Turnaround Issues
Unsecured Trade Creditors
Journal Author: 
James A. Vidmar
Lisa Yonka Stevens
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Reprint Request

Supreme Court Declines to Rule on Equitable Mootness

Sewer customers challenged the dismissal of their appeal from confirmation of the Jefferson County chapter 9 municipal debt restructuring.
Court: 
Supreme Court

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