We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Puerto Rico Pension Law Spurs Bondholder Suit Against US

Law360, New York (July 21, 2017, 8:41 PM EDT) -- A group of investors with billions at stake in Puerto Rico public pension bonds has sued the United States, saying a federally appointed oversight panel played an outsize role in the passage of recent legislation that unconstitutionally diverts their secured collateral in employer pension contributions.

In response to a Puerto Rican law passed late last month that reserves nearly $400 million for public pensioners in the 2018 fiscal year, a group of investment funds overseen by Oaktree Capital, Glendon Capital Management and others filed a lawsuit Wednesday against the U.S. government, saying the statute amounts to a violation of the Fifth...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!