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1st Circ. Grants Appeal In Puerto Rico Bankruptcy Case

Law360, New York (September 25, 2017, 3:37 PM EDT) -- The First Circuit on Friday reversed a lower court ruling and found that a committee of unsecured creditors does have the right to be heard in adversary proceedings spawned from Puerto Rico’s restructuring.

In its opinion, the panel said the district court judge did not err in finding a footnote in a 1992 First Circuit decision barred the island’s Unsecured Creditors Committee from intervening in the island’s ongoing bankruptcy proceedings, but that absent that footnote the Bankruptcy Code gives it a right to be heard....
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