July 08, 2015
A Puerto Rico federal court directed officials to close the books on the U.S. territory's Recovery Act on Wednesday, issuing a permanent injunction barring authorities from enforcing the restructuring law following a First Circuit ruling deeming the act unconstitutional.
February 08, 2015
A federal judge struck down a Puerto Rico law that threatened investors in public corporations with harsh restructuring terms, a victory for investment funds battling to protect billions of dollars in debt claims against the commonwealth's beleaguered electric utility.
October 07, 2014
Investment firms leading the charge against Puerto Rico's controversial quasi-bankruptcy debt adjustment regime pressed a federal judge to invalidate its governing statute, which looms large over high-stakes restructuring negotiations with the commonwealth's electric utility.
July 22, 2014
Investment firm BlueMountain Capital Management LLC sued the governor of Puerto Rico and others in federal court on Tuesday, alleging that a law the commonwealth's government enacted last month allowing certain public agencies to restructure their debt violates both the U.S. and Puerto Rico Constitutions.