January 04, 2024
The board overseeing Puerto Rico Electric Power Authority's reorganization is urging a federal judge to allow the utility to ditch its collective bargaining agreements with workers as well as pension obligations, saying the company has no way of making up the purported $1 billion payment shortfall in the current retirement plan.
October 12, 2022
From pay ranges in job ads to overtime for farmworkers, legal requirements at the state and city level address a variety of wage and hour topics. Here, Law360 looks at employment law developments for attorneys to watch.
July 21, 2022
Another cryptocurrency player succumbs to marketwide distress, Johnson & Johnson's bankrupt talc unit seeks a pause of talc suits brought by state attorneys general and a $21 million settlement in the liquidation of defunct law firm LeClairRyan is drawing appeals from the bankruptcy watchdog. This is the week in bankruptcy.
July 19, 2022
The First Circuit has affirmed the confirmation of Puerto Rico's bankruptcy plan, saying the judge who issued the order was right to require the commonwealth to provide just compensation for eminent domain claims to comply with the Fifth Amendment's takings clause.
March 21, 2022
A federal judge Monday approved a $130 million deal to settle claims against Puerto Rico's bankrupt electric utility by a company that briefly held a controversial contract to repair the island's hurricane-damaged electric grid.
March 14, 2022
The First Circuit has rejected a request by teachers associations to delay the implementation of Puerto Rico's debt restructuring plan while they appeal the changes it will make to public school pensions.
March 03, 2022
The federal bankruptcy judge overseeing Puerto Rico's financial restructuring on Thursday refused to stay her order confirming the territory's plan of adjustment while objectors appeal, holding that the teachers associations and credit unions aren't likely to prevail in their challenges to the plan.
January 18, 2022
The federal judge overseeing Puerto Rico's bankruptcy case approved the proposed fiscal adjustment plan for the island's government Tuesday, after nearly four years in court.
January 11, 2022
The federal judge overseeing the bankruptcy case of Puerto Rico issued an order late Monday saying if certain modifications are made to the island's plan of adjustment this week, the court will confirm the plan after more than four years in court.
November 22, 2021
The Financial Oversight and Management Board pursuing a restructuring of Puerto Rico's debt made its final arguments in support of its bankruptcy plan Monday, telling a federal judge that the legislation that created the board gives it the sole power to determine the treatment of the island's creditors.