Welcome
The United States Law Week

High Court Suggests Support for Puerto Rico Oversight Board (1)

Oct. 15, 2019, 3:36 PMUpdated: Oct. 15, 2019, 6:45 PM

U.S. Supreme Court justices suggested reluctance to throw out the work of the oversight board responsible for pulling Puerto Rico out of its record bankruptcy, hearing arguments in a case that will shape the economic future of an island still recovering from a 2017 hurricane.

In an 80-minute session Tuesday, the justices appeared mostly skeptical of contentions that the seven members of the Financial Oversight and Management Board were appointed in violation of the Constitution.

Bondholders led by Aurelius Investment LLC are seeking to unravel much of the board’s work and eventually get more for their stakes than the oversight...

To read the full article log in. To learn more about a subscription click here.