May 22, 2024
The First Circuit said public pensioners in Puerto Rico can't advance their claims that UBS Financial Services illegally underwrote $3 billion in bonds, ruling that the island's financial restructuring plan transferred the right to those claims to a special committee.
November 20, 2023
UBS Financial Services told the First Circuit on Monday that public pensioners in Puerto Rico can't press derivative claims that the bank illegally underwrote $3 billion in bonds because the island's restructuring deal transferred the rights to those claims to a committee for the benefit of other creditors.