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Puerto Rico Oversight Board Must Rethink Plan In Bond Row

Law360, New York (June 28, 2017, 9:13 PM EDT) -- The judge presiding over Puerto Rico’s historic debt restructuring told the board in charge of alleviating the territory’s fiscal crisis on Wednesday to rework its plan to resolve a key creditor dispute over rights to sales tax revenues, seeing fundamental problems with how it would select representatives with opposing interests.

The denial was swift and made before counsel for the Puerto Rico Financial Oversight and Management Board even got the chance to defend the panel's idea to appoint “independent agents” to act as fiduciaries for the...
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