Puerto Rico Creditors Want In On $6.2B Adversary Suit
Law360, New York (August 24, 2017, 6:17 PM EDT) -- Unsecured creditors blasted a decision by the judge overseeing Puerto Rico's ongoing restructuring that bars them from appearing in a bond insurer suit over the island's fiscal plan, telling the First Circuit on appeal that the judge clearly erred by boxing them out of such a crucial adversary proceeding.
The committee of unsecured creditors said in its appellate brief, filed Wednesday, that U.S. District Judge Laura T. Swain confused the meaning of Bankruptcy Code Section 1109(b), which gives official committees the right to "appear and be heard on any issue in a case."
The committee says "any issue" clearly covers adversary...
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