Home Debt obligation Puerto Rico to send notice to retirees about bankruptcy plan

Puerto Rico to send notice to retirees about bankruptcy plan

2
0
By Vince Sullivan (November 1, 2021, 7:44 p.m. EDT) – The Financial Management and Supervisory Board of Puerto Rico told a New York federal judge on Monday that it would send updated notices to employees and retirees of the Commonwealth, explaining the impact on their pensions of a bond authorization law passed by the island’s legislature last week.

In a pre-confirmation hearing, supervisory board attorney Martin J. Bienenstock of Proskauer Rose LLP said the board – created to implement a restructuring of Puerto Rico’s massive bond debt – considered that the new notice was needed to inform all parties concerned of the effect the new law would have on pensions in the future.

The Puerto Rico Senate passed the law …

Stay one step ahead

In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas, and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.

  • Access to case data in articles (numbers, filings, courts, nature of prosecution, etc.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, requests, etc.
  • Create personalized alerts for specific case articles and topics and more!

TRY LAW360 FREE FOR SEVEN DAYS


Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here