February 24, 2018 / 12:42 AM / 10 months ago

Puerto Rico, vehicle owners fight over insurance reimbursement

While Puerto Rico restructures its debt, it should not have to return millions of dollars from duplicate vehicle insurance premiums that it has kept in its coffers for more than a decade, according to lawyers for the beleaguered U.S. territory.

The lawyers in court papers filed on Wednesday said a bid by vehicle owners to lift the stay in the island’s bankruptcy-like proceedings to get at the money would “waylay” efforts at pulling together a restructuring plan.

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

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