Tuesday, 8 October 2019

U.S. Supreme Court turns away Puerto Rico pension fund dispute

U.S. Supreme Court turns away Puerto Rico pension fund disputeThe U.S. Supreme Court on Monday declined to take up a dispute over the assets of Puerto Rico's largest public sector pension fund even as the U.S. Caribbean island territory's bankruptcy enters a major new phase. The justices left in place a January 2019 lower court ruling that found that bondholders who own nearly $3 billion of debt issued by Puerto Rico's Employees Retirement System have a legitimate claim on the pension fund's assets. The justices refused to hear an appeal by Puerto Rico's federally created financial oversight board of that ruling.




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