Consultants

The First Circuit Court of Appeals Ruling on ‘Assured’ Should be Reheard or Reversed; Recent Ruling Sends a Harsh Message to Municipal Bond Market

MuniNet Guide
April 3, 2019

In this article, Jim Spiotto examines the First Circuit ruling on the appeal from the Title III adjustment of debt proceeding for the Commonwealth of Puerto Rico, an overview of why the financial market expects timely payment of special revenues to bondholders in a Chapter 9, and why the reversal of the current Assured ruling is necessary. 

Click here to read the article on MuniNet Guide.