Courts Aren’t Financial Clearinghouses – WSJ

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Sometimes the Supreme Court does its best public service by preventing legal trouble, and so it was Monday when the Justices shut down two attempts to use the courts for pecuniary gain.

In Financial Oversight and Management Board for Puerto Rico v. Aurelius Investment, a unanimous Court upheld Puerto Rico’s financial oversight board. Congress created the seven-member board in 2016 under its Promesa law to restructure the U.S. territory’s $120 billion in debt and pension obligations. A hedge fund that opposed the restructuring…




2020-06-01 19:27:00

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