June 1, 2020 / 2:26 PM / a month ago

U.S. Supreme Court upholds Puerto Rico financial oversight board appointments

WASHINGTON, June 1 (Reuters) - The U.S. Supreme Court on Monday upheld appointments to Puerto Rico’s federally created financial oversight board that had been challenged by creditors in a ruling that avoids disruption to the panel’s restructuring of about $120 billion of the bankrupt U.S. territory’s debt.

The justices, in a 9-0 decision, concluded that the 2016 appointment of seven board members did not violate the U.S. Constitution’s so-called appointments clause as the challengers had argued. (Reporting by Lawrence Hurley; Editing by Will Dunham)

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