Court of Claims Rebuffs Puerto Rico Bondholders’ Claims of Unconstitutional Takings Cutting off post-petition liens under PROMESA did not violate the Takings Clause. Read more about Court of Claims Rebuffs Puerto Rico Bondholders’ Claims of Unconstitutional Takings
Setoff Rights of the IRS Prevail over a Debtor’s Attempt to Exempt a Tax Refund Fourth Circuit answered a question of first impression where the lower courts disagreed. Read more about Setoff Rights of the IRS Prevail over a Debtor’s Attempt to Exempt a Tax Refund
First Circuit’s Traditional Approach to Section 552 Cuts Off Bondholders’ Liens Employer contributions to Puerto Rico’s retirement system did not qualify as ‘special revenues,’ with the result that bondholders’ liens were cut off on the filing date. Read more about First Circuit’s Traditional Approach to Section 552 Cuts Off Bondholders’ Liens