August 01, 2019
The First Circuit has refused to reconsider a ruling preventing Puerto Rico's special revenue bondholders from collecting billions they are owed during the island's restructuring, even as one dissenting judge warned the ruling could roil municipal bond markets and called on the U.S. Supreme Court to take up the dispute.
April 09, 2019
Municipal bond insurers issued a stern warning Tuesday to the First Circuit asking that it revise its own ruling from last month that Puerto Rico does not have to make payments on special revenue bonds during its bankruptcy-like cases, saying the ruling creates market uncertainty and undermines long-held industry beliefs.
March 27, 2019
Puerto Rico's bondholders suffered another defeat Tuesday, as the First Circuit affirmed two major district court decisions that found the creditors can't force the island's government and agencies to set aside funds or make payments on special revenue bonds during its landmark restructuring.
July 10, 2018
Puerto Rico and its federally appointed financial restructuring advisers urged the First Circuit on Monday to affirm a decision that has freed the commonwealth from an obligation to pay special revenue bondholders while it winds its way through bankruptcy-like proceedings, saying a reversal would "undermine critical infrastructure."