October 26, 2017 / 12:06 AM / a year ago

Bond insurer proposes timeout for Puerto Rico litigation

Bond insurer Financial Guaranty Insurance Co urged that litigation in Puerto Rico’s bankruptcy-like proceedings be put on hold for 90 days so the island’s leaders can focus on recovery efforts from Hurricane Maria.

The bond insurer argued in court papers on Tuesday that it will be months before the federal board overseeing the U.S. territory’s financial restructuring “has a clue” on fiscal assumptions given the scale of the storm’s impact.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2yL4kKp

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