Puerto Rico Utility Creditors Lose Bid To Appoint Receiver

Law360, New York (September 14, 2017, 5:22 PM EDT) -- The oversight powers of the federally appointed board guiding Puerto Rico's historic restructuring were reaffirmed in a court ruling Thursday, finding that a group of bondholders could not move to appoint a receiver for the island's insolvent electric company without the panel's consent.

The extent to which creditors and the court can intervene in or dictate the actions of Puerto Rico’s insolvent public entities was firmly delineated in a decision that prevents a group of Puerto Rico Electric Power Authority bondholders and insurers from lifting the utility’s litigation shield and placing it in receivership as part of an effort to raise...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS