Puerto Rico Defends Methods To Resolve Bond Conflict

Law360, New York (June 26, 2017, 10:34 PM EDT) -- The government of Puerto Rico and its federally appointed oversight board is defending a proposal to appoint independent agents to resolve competing claims over the territory’s sales tax revenues, saying in a Saturday court filing that objecting groups of creditors overlook the board’s neutrality and legal authority.

The Financial Oversight and Management Board for Puerto Rico, a panel of seven appointed advisers tasked with representing the commonwealth and its public entities as they restructure over $70 billion in debt, came back at many of the territory’s...
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