Municipal Bankruptcy

Puerto Rico Bondholders Lose Another Appeal in the First Circuit

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

Court:

1st Circuit

Federal Reserve Backstops Muni Bond Market as Coronavirus Hammers Cash-Strapped States and Cities

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Pensions and Other Long-Term Costs as a Percentage of 2016 City Revenue

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For Growing Numbers of Struggling U.S. Cities, the Downturn Has Arrived

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Puerto Rico Bondholders Reach Tentative Deal With Oversight Board

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First Circuit’s Traditional Approach to Section 552 Cuts Off Bondholders’ Liens

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.

Court:

1st Circuit

Audit Raises Red Flags on Flint's Finances, But Mayor Says City Can Recover

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