News & Analysis as of

Restructuring Puerto Rico

Cadwalader, Wickersham & Taft LLP

What’s in a Name? Court Holds That Despite Its Title, a Security Agreement Also Subordinated Junior Creditor’s Rights to Payment

On October 29, 2021, Judge Laura Taylor Swain, the presiding judge in the Puerto Rico bankruptcy case, ruled that approximately $2 billion in intragovernmental loan claims were subordinated to bonds issued by the Puerto Rico...more

Arnall Golden Gregory LLP

Restructuring Roundup - November 2021

Industry News - Elon Musk Tells SpaceX Employees That Starship Engine Crisis Is Creating a ‘Risk of Bankruptcy'... Aeroméxico files Amended Plan of Reorganization...more

Robins Kaplan LLP

Financial Daily Dose 8.2.2019 | Top Story: White House Threatens More Tariffs on China

Robins Kaplan LLP on

Apparently hoping to urge China off of its new go-slow tactic, the White House is applying its maximum pressure campaign again, announcing yesterday that the US will “impose a 10 percent tariff on an additional $300 billion...more

Patterson Belknap Webb & Tyler LLP

Commonwealth Finds Common Ground: Deal with Bondholders May Be a Turning Point as Puerto Rico Seeks to Emerge in Early 2020

The Financial Oversight and Management Board for Puerto Rico (Oversight Board) announced Sunday that it had reached an agreement with bondholders regarding the terms of a plan of adjustment that would resolve $35 billion...more

Patterson Belknap Webb & Tyler LLP

Bondholders announce framework for Commonwealth-COFINA Settlement; Oversight Board and Government say the deal is “Not...

On May 14, a large coalition of stakeholders in the COFINA-Commonwealth litigation, announced a proposed settlement outline to resolve the long-running dispute over who owns the sales and use taxes pledged by COFINA to secure...more

Orrick, Herrington & Sutcliffe LLP

Distressed Download - July 2015

First Circuit Rules Bankruptcy Code Preempts Puerto Rico's Recovery Act - On Monday, July 6, the Court of Appeals for the First Circuit affirmed the February 6, 2015 order and injunction of the Puerto Rico District...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

First Circuit Rules Bankruptcy Code Preempts Puerto Rico's Recovery Act - On Monday, July 6, the Court of Appeals for the First Circuit affirmed the February 6, 2015 order and injunction of the Puerto Rico District Court...more

Orrick, Herrington & Sutcliffe LLP

Distressed Download - March 2015

What Happens in Delaware Does Not Always Stay in Delaware: Caesars Victorious in Venue Battle - On Wednesday, January 28, the Bankruptcy Court for the District of Delaware transferred venue for the involuntary bankruptcy...more

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