Bondholders Beware? First Circuit Ruling’s Potential Adverse Impact on Puerto Rico’s Long-Term Restructuring Prospects
BN Lawyers
MAY 8, 2019
The controversial ruling, which pertains to the treatment of municipal revenue debt, has left investors with questions about the value and significance of a revenue pledge in a municipal bankruptcy. The ruling reversed long-held practice as to the mandatory application of special revenues following municipal bankruptcy. Background.
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