March 28, 2018 / 12:25 AM / 4 months ago

Puerto Rico lawsuit opens door to fiscal plan talks-bond insurers

Bond insurers have urged the judge overseeing Puerto Rico’s restructuring to review a recent ruling from a local court they believe could help them get an order allowing them to investigate what was discussed during talks that led to plans for the island’s finances, including any cuts to debt service payments.

Assured Guaranty Corp, Assured Guaranty Municipal Corp and National Public Finance Guarantee Corporation in court papers filed on Monday pressed U.S. District Court Judge Laura Taylor Swain to look at the March 16 decision by Judge Lauracelis Roques-Arroyo of Puerto Rico’s Court of First Instance in a lawsuit over a draft of the territory’s budget.

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

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