September 20, 2017 / 9:20 PM / 10 months ago

Oversight board defends Puerto Rico's financial disclosures

Puerto Rico’s bond insurers are misrepresenting the scope of financial disclosures by the broke U.S. territory in order to delve into its books to prepare for a fight over restructuring, according to the federal board shepherding the island through its bankruptcy-like proceedings.

In court papers filed on Tuesday, the board shot back at a bid by the insurers to use federal bankruptcy Rule 2004 to compel the release of information related to Puerto Rico’s fiscal plan.

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