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Puerto Rico Fights Special Revenue Bond Insurer Appeal

Law360 (July 10, 2018, 10:08 PM EDT) -- 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.”

Striking back at an appeal launched by a trio of bond insurers backing nearly $2.7 billion in bonds issued by the Puerto Rico Highways and Transportation Authority, the territory’s government and a board overseeing the island’s landmark restructuring proceedings...
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