Puerto Rico Files for Bankruptcy: New York Judge to Hear Case
On May 3, 2017, the Financial Oversight and Management Board for Puerto Rico filed a voluntary petition for relief on behalf of Puerto Rico in federal court there. The filing required the Chief Justice of the United States to designate a district court judge to conduct the case. On May 5, Chief Justice Roberts appointed District Judge Laura Taylor Swain of the Southern District of New York. Judge Swain was a bankruptcy judge in the Eastern District of New York before joining the district court in 2000.
Patterson Belknap is well-positioned to assist creditors and other parties that have claims against or other interests in Puerto Rico and need a law firm located in New York. With a team of experienced restructuring professionals – backed by more than 200 lawyers in complementary fields such as litigation, commercial law, tax, and real estate – the firm regularly represents stakeholders in large, complex insolvency cases.
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