Opponents of Puerto Rico’s bankruptcy plan lose appeal stay offers
Posted onAuthorRenee J. ClementsComments Off on Opponents of Puerto Rico’s bankruptcy plan lose appeal stay offers
By Hailey Konnath (March 3, 2022, 9:30 PM EST) – The federal bankruptcy judge overseeing Puerto Rico’s financial restructuring on Thursday declined to stay his order confirming the territory’s adjustment plan while opponents appeal , saying teachers’ associations and credit unions are unlikely to prevail in their challenges to the plan.
U.S. Bankruptcy Judge Laura Swain, who approved the plan in January after years of litigation, denied two stay motions pending appeal. In addition to the unlikely success of their appeals, the judge found that the teachers’ associations and credit unions had not established that they would suffer irreparable harm if the confirmation order remained in place…
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 lawsuits, etc.)
Access to attached documents such as briefs, motions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and more!
An Ann Taylor ‘LOFT’ store in Encinitas, California is shown here May 20, 2008. REUTERS/Mike Blake Join now for FREE unlimited access to Reuters.com Register Law firms Related documents (Reuters) – The former owner of Ann Taylor has won bankruptcy court approval for his revised reorganization plan after a judge rejected certain legal protections for […]
WhidbeyHealth, based in Coupeville, Wash., is facing financial challenges and needs to get a loan quickly to avoid Chapter 11 bankruptcy, according to Moody’s Investors Service. Moody’s said March 2 that it had downgraded WhidbeyHealth’s General Tax Unlimited Obligation Bonds from “Baa3” to “Ba2” and downgraded the hospital’s General Tax Limited Obligation Bonds rating from […]
Lawyer in bankruptcy barred after penalty in 30 cases A bankruptcy lawyer who has been punished by the courts for at least 30 times has signed a consent to be barred from practicing in Washington, DC, following another sanction that was issued in Florida in the last month. Sam Babbs III consented to be disbarred […]