U.S. District Judge Laura Taylor Swain yesterday granted a request from the unsecured creditors' committee (UCC) that sought to set expedited deadlines for procedures for Puerto Rico to bring avoidance actions in its bankruptcy cases because of a looming deadline, Caribbean Business reported. In a motion filed earlier yesterday, the UCC said that despite repeated request the island’s fiscal oversight board has yet to submit a list of avoidance actions it intends to pursue. The committee asked the court to set Wednesday, March 27, as the deadline to file objections or responses to the Procedures Motion, and March 29 as the deadline to reply. Judge Swain, however, gave the board until March 28 to submit an objection. The UCC can file a report that day as well. The deadline for the commonwealth to file avoidance actions is May 2. The other debtors follow afterward. The board must provide a list by April 1 of the avoidance actions it will pursue. The UCC wants to be allowed to submit a motion seeking the appointment of a trustee to assert avoidance actions.
