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Municipal Bankruptcy

Supreme Court Won’t Hear a Case to Compel Paying Puerto Rico Bondholders Currently

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

U.S. Trustee May Not Appoint an Unsecured Committee in a Municipal Bankruptcy

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.

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