Rochelle's Daily Wire

The requirement in chapter 9 to negotiate in good faith before filing is satisfied if the parties are ‘simply too far apart,’ says Bankruptcy Judge Chan.

Federal courts have no jurisdiction to review decisions by Puerto Rico’s Oversight Board regarding the reduction of pension benefits.

Waiting four years to raise discharge as a defense does not invoke equitable estoppel or laches.

Dissenter implies that the First Circuit should sit en banc and rule that the Oversight Board’s sovereign immunity was not waived

First Circuit won’t allow artful pleading to avoid the automatic stay in municipal bankruptcies.

Federal preemption allowed rejection of the defined benefit pension plan for Puerto Rico’s teachers.

Cutting off post-petition liens under PROMESA did not violate the Takings Clause.

District court invalidates expenditures adopted by the Puerto Rico legislature that were not approved by the PROMESA Oversight Board.

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

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.