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Supreme Court to Review Ruling on Puerto Rico Restructuring Law

December 4, 2015

The U.S. Supreme Court agreed to hear Puerto Rico’s appeal of a ruling by the Court of Appeals for the First Circuit that held the Puerto Rico Public Corporation Debt Enforcement and Recovery Act to be unconstitutional. The commonwealth passed the law in 2014 to allow its financially distressed utilities to restructure their debts. In an interview with The Bond Buyer, Jim Spiotto discussed the legality of Puerto Rico’s Recovery Act.

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