Puerto Rico's federally created financial oversight board on Tuesday began ...
SAN JUAN - Puerto Rico’s federally created financial oversight board on Tuesday began filing the first round of scores of lawsuits seeking to recover money the bankrupt U.S. commonwealth paid to bondholders, businesses and others.
The board has until the end of this week to file certain claims after the U.S. judge hearing Puerto Rico’s bankruptcy cases declined to extend an expiring two-year statute of limitations. “The oversight board has a responsibility to the people of Puerto Rico to recover any payments in contravention of bankruptcy or Puerto Rico law made prior to the commonwealth’s bankruptcy,” board executive director Natalie Jaresko said in a statement.
Legal arguments for the claims include that these payments “deviate from historical payment patterns,” were made “in the absence of a contract,” or do not correspond to existing contracts. Claims would be dismissed against defendants who can show “a proper basis for the payments.”The board contends that Puerto Rico was insolvent at the time these payments were made.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Puerto Rico oversight board loses bid to extend claims filing deadlineA U.S. judge on Wednesday denied a request by Puerto Rico's federally creat...
Read more »
House Democrats eye post-Mueller agendaThe House will return next week with plans to take up legislation on some of the Democratic Party’s core priorities — fighting climate change, expanding Obamacare and lowering drug prices
Read more »
Alexandria Ocasio-Cortez blasts Trump as 'incompetent' and 'corrupt' for his response to Puerto Rico“I’m curious, how do you spin ignoring and neglecting the largest mass death of people on American soil in decades?' the progressive representative asked.
Read more »
In Puerto Rico, the odds are against high school graduates who want to go to collegeOne big obstacle: a university entrance exam few mainland admission offices accept.
Read more »
HUD’s top watchdog: Agency is impeding probe into Puerto Rico hurricane aidHUD Inspector General says the agency is “unreasonably” delaying production of email and other records related to HUD's handling of hurricane relief for Puerto Rico and unlawfully hampering the IG’s oversight mission.
Read more »
MLB will air 13 games on YouTube this seasonThe games will be available for free on YouTube in the United States, Canada and Puerto Rico during the second half of the season.
Read more »
About 1 in 14 Puerto Rican schoolchildren experienced PTSD after Hurricane MariaFood shortages, damaged homes, fear of death, loved ones leaving. The cumulative stresses of Hurricane Maria contributed to thousands of schoolchildren developing symptoms of post-traumatic stress disorder in Puerto Rico, according to a new study.
Read more »
Hip-Hop Cash Princes And Princesses: The Class Of 2019Rap's rising stars blend genres, garner Grammy attention, create triple-platinum albums, earn tens of millions—and are all under the age of 30.
Read more »
Puerto Rico oversight board loses bid to extend claims filing deadlineA U.S. judge on Wednesday denied a request by Puerto Rico's federally creat...
Read more »
In Puerto Rico, the odds are against high school graduates who want to go to collegeOne big obstacle: a university entrance exam few mainland admission offices accept.
Read more »
Alexandria Ocasio-Cortez blasts Trump as 'incompetent' and 'corrupt' for his response to Puerto Rico“I’m curious, how do you spin ignoring and neglecting the largest mass death of people on American soil in decades?' the progressive representative asked.
Read more »