November 16, 2017 / 10:07 PM / a month ago

Judge rejects litigation stay for Puerto Rico restructuring case

The judge overseeing Puerto Rico’s bankruptcy-like case to restructure its massive debt rejected on Thursday a bid by a bond insurer to put litigation in the case on hold for 90 days, saying it is imperative that the proceedings stay on track.

U.S. District Judge Laura Taylor Swain said in an order that Financial Guaranty Insurance Co failed to cite any authority to support a stay on proceedings to which it is not a party.

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