May 1, 2019
Even if a debtor has committed fraud, at least three creditors still must join an involuntary petition if the debtor has 12 or more creditors.
March 29, 2019
First Circuit interprets chapter 9 and PROMESA to permit but not compel payments to special revenue bondholders during debt arrangement proceedings.
First Circuit interprets chapter 9 and PROMESA to permit but not compel payments to special revenue bondholders during debt arrangement proceedings.
March 28, 2019
First Circuit bars use of declaratory judgments restricting Puerto Rico’s use of tax revenues.
First Circuit bars use of declaratory judgments restricting Puerto Rico’s use of tax revenues.
March 25, 2019
First Circuit finds no exceptions to the automatic stay under PROMESA subjecting Puerto Rico to ‘ordinary course’ litigation.
First Circuit finds no exceptions to the automatic stay under PROMESA subjecting Puerto Rico to ‘ordinary course’ litigation.
February 18, 2019
The appeals court is attempting to avoid chaos despite ruling that the appointment of Puerto Rico Oversight Board members violated the Appointments Clause of the Constitution.
February 1, 2019
First Circuit reverses, upholding the validity of bondholders’ security interests in $2.9 billion of collateral.
First Circuit reverses, upholding the validity of bondholders’ security interests in $2.9 billion of collateral.