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Puerto Rico's Municipalities

posted by Stephen Lubben

As previously predicted, and in light of recent events, legislation has been reintroduced to allow Puerto Rico's municipalities into chapter 9. Two Slipsters are quoted in the accompanying press release.

Meanwhile, the Commonwealth has appealed to the 1st Circuit. I would note that once the district court found the Recovery Act preempted by the Bankruptcy Code, and thus enjoined the Recovery Act, the point of the remainder of the opinion becomes something of a mystery to me. In short, there probably is no problem appealing from the district court's order at this point.

February 11, 2015 at 12:55 PM in Municipal Bankruptcy

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