Puerto Rico Gov't Wins Autonomy Fight Over Electric Co.

Law360, New York (November 13, 2017, 10:11 PM EST) -- The judge presiding over Puerto Rico’s historic restructuring proceedings ruled Monday that the territory’s insolvent electric company will remain under local government control as it restructures $9 billion worth of debt and addresses operational weaknesses, blocking a federal panel from installing an emergency manager to run the utility.

In a ruling that clearly delineates the extent of power wielded by the federal board overseeing Puerto Rico’s financial recovery and bankruptcy-like cases, U.S. District Judge Laura Taylor Swain shut down a controversial request to appoint an interim...
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