Puerto Rico Blasted For Trying To Expand Bankruptcy Shield

Law360, New York (June 20, 2017, 6:17 PM EDT) -- Groups of bondholders are accusing the Puerto Rico government of impermissibly attempting to protect government officials and conceal information that should be open to legal discovery by expanding the automatic litigation shield enabled by its court-monitored financial restructuring.

In objections submitted over the last few days to the New York federal judge overseeing Puerto Rico’s $74 billion debt restructuring, groups of lenders argued that the territory and its representatives are improperly seeking to expand the scope of legal protections provided to debtors and prevent pertinent information...
To view the full article, register now.