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Puerto Rico's board argues against suspending litigation
November 1, 2017 / 10:58 PM / 23 days ago

Puerto Rico's board argues against suspending litigation

Staying litigation in Puerto Rico’s bankruptcy-like proceedings would hinder the island’s recovery from its economic crisis and damage from Hurricane Maria, according to the federal board overseeing the U.S. territory’s financial restructuring.

Financial Guaranty Insurance Co, a bond insurer, urged a 90-day hold on litigation last week, but the board said in court papers filed on Tuesday such a move was self-serving at best.

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