The Bond Buyer
Insurers Open a Legal Can of Worms for Puerto Rico
Two insurers recently filed a lawsuit against Puerto Rico challenging its revenue clawback strategy, opening the door to other lawsuits and a lengthy and costly litigation process. The fiscally distressed commonwealth is facing substantial economic problems and a bill introduced into the US Congress aims to place a stay on litigation until the Congress permits Puerto Rico to begin restructuring its debt. In an interview with The Bond Buyer, Jim Spiotto discussed litigation and the options available to Congress to help Puerto Rico.
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