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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.
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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.
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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.
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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.
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