News Topic: puerto rico

As many will have seen in the press , the First Circuit has said that PROMESA's Oversight Board was appointed in violation of the Appointments Clause . ... Read full article

Long ago I warned that the growth the of the CDS (credit default swap) market represented a threat to traditional understandings of how workouts and restructurings are supposed to happen. The recent Windstream decision from the SDNY shows that these basic ... Read full article

In my last post , I noted that the joint committee-Board objection to the 2012 and 2014 Puerto Rico GOs was at least plausible, and thus is likely headed for more extensive litigation. ... Read full article

While there has been some press coverage of the recent attempts to annul some $6 billion of Puerto Rican general obligation bonds – essentially all such debt issued starting in 2012 onward – the move has not received much deep coverage. ... Read full article

Mitu Gulati & Mark Weidemaier ... Read full article

Last Monday, December 3, the First Circuit heard an oral argument that I have been looking forward to for ages.  The case involves an infamously aggressive hedge fund making an audacious challenge to the constitutionality of the Puerto Rican Control ... Read full article

For those of you, who like me have been following the Puerto Rican debt drama, this wonderful new book by Sam Erman of USC might be of interest.  There are many wonderful and insightful stories in this book that I was altogether unaware of, despite having ... Read full article

Federal "Opportunity Zones" that reduce exposure on capital gains could draw rich investors — and commercial lenders along with them — into economic development projects in thousands of troubled communities around the country. ... Read full article

Few small businesses in Puerto Rico applied for credit to finance recovery from hurricane damage. The reasons are instructive for financial institutions’ response to disaster recovery, the New York Fed says. ... Read full article

The Puerto Rican company added Daniel Frye, a former FDIC adviser, to its board. ... Read full article

In January I wrote about Aurelius seeking a do-over . ... Read full article

In June 2018, the U.S. Supreme Court decided Sveen v. Melin , a case applying Contracts Clause* jurisprudence to a state revocation-on-divorce statute and preexisting insurance contract. It isn't like the Supreme Court hears a Contracts Clause case ... Read full article

Guy Gentile ran a stock brokerage. He spent years running sting operations as an FBI informant. Then, after he was arrested anyway, he beat the charges. Now his plan for his next act — opening a bank in Puerto Rico — is hitting a snag. ... Read full article

The agreement was tied to the Puerto Rico company's 2010 purchase of the failed Westernbank. ... Read full article

With hurricane season just weeks away, bankers from coastal markets share the hard lessons learned after the storms that belted Florida, the Gulf Coast and elsewhere last year. Their advice can be applied in all kinds of emergencies. ... Read full article

The San Juan company disclosed an error in the way it calculated the provision for losses in its commercial loan book. ... Read full article

In providing aid, banks can earn Community Reinvestment Act credit and burnish their reputation. ... Read full article

The lives of Puerto Rico residents remain profoundly disrupted by the aftermath of Hurricane Maria measured by metrics such as electricity, clean water, health care access, with death tolls mounting. This week, though, in a federal court hearing on ... Read full article