{"id":46803,"date":"2016-07-20T17:56:00","date_gmt":"2016-07-20T20:50:00","guid":{"rendered":"http:\/\/demo2016.hispanicprwire.com\/english-go-bondholders-charge-puerto-rico-with-violations-of-promesa\/"},"modified":"2016-07-22T15:25:04","modified_gmt":"2016-07-22T19:25:04","slug":"tenedores-de-bonos-de-obligacion-general-acusan-a-puerto-rico-de-violaciones-de-promesa","status":"publish","type":"post","link":"https:\/\/hispanicprwire.com\/en\/tenedores-de-bonos-de-obligacion-general-acusan-a-puerto-rico-de-violaciones-de-promesa\/","title":{"rendered":"GO Bondholders charge Puerto Rico with Violations of PROMESA"},"content":{"rendered":"<p><\/p>\n<style type=\"text\/css\"><![CDATA[\n\/* Style Definitions *\/\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n]]><\/style>\n<div class=\"xn-content\">\n<p><span class=\"xn-location\">WASHINGTON<\/span>, <span class=\"xn-chron\">July 20, 2016<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212;\u00a0Today, certain holders of <span class=\"xn-location\">Puerto Rico&#8217;s<\/span> general obligation (GO) bonds filed suit in the U.S. District Court for the District of <span class=\"xn-location\">Puerto Rico<\/span> seeking to stop <span class=\"xn-location\">Puerto Rico&#8217;s<\/span> violations of the Puerto Rico Oversight, Management and Economic Stability Act (&#8220;<u>PROMESA<\/u>&#8220;).\u00a0 The lawsuit is brought by entities managed by Aurelius Capital Management, LP, Autonomy Capital (Jersey) L.P., Covalent Partners LLC, FCO Advisors LP, Monarch Alternative Capital LP and Stone Lion Capital Partners L.P.\u00a0\u00a0\u00a0 <\/p>\n<p><span class=\"xn-person\">Andrew Rosenberg<\/span> of Paul, Weiss, Rifkind, Wharton &amp; Garrison LLP, legal advisor to the general obligation bondholders, commented:<\/p>\n<p>&#8220;The government of <span class=\"xn-location\">Puerto Rico<\/span> has been violating PROMESA from practically the moment of its enactment.\u00a0 Section 204(c)(3) of PROMESA requires that <span class=\"xn-location\">Puerto Rico<\/span> &#8216;shall not enact new laws that either permit the transfer of any funds or assets outside the ordinary course of business or that are inconsistent with the constitution or laws of the territory as of the date of enactment of this Act.&#8217;\u00a0 Just hours after PROMESA took effect, <span class=\"xn-location\">Puerto Rico<\/span> brazenly violated this provision by enacting extraordinary measures diverting many hundreds of millions of dollars.<\/p>\n<p>&#8220;Section 204(c)(3) is designed to preserve the status quo until the Oversight Board is formed.\u00a0 Puerto Rico&#8217;s officials have upended the status quo.\u00a0 Our clients have sued to restore it.&#8221;\u00a0 <\/p>\n<p>To view a copy of the complaint, visit: <a href=\"https:\/\/www.scribd.com\/document\/318858661\/01-PROMESA-204-c-3-Complaint-as-Filed\" target=\"_blank\" rel=\"nofollow\">here<\/a>.\u00a0\u00a0\u00a0 <\/p>\n<\/div>\n<p> <\/p>","protected":false},"excerpt":{"rendered":"<div class=\"xn-content\">\n<p><span class=\"xn-location\">WASHINGTON<\/span>, <span class=\"xn-chron\">July 20, 2016<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212;\u00a0Today, certain holders of <span class=\"xn-location\">Puerto Rico&#8217;s<\/span> general obligation (GO) bonds filed suit in the U.S. District Court for the District of <span class=\"xn-location\">Puerto Rico<\/span> seeking to stop <span class=\"xn-location\">Puerto Rico&#8217;s<\/span> violations of the Puerto Rico Oversight, Management and Economic Stability Act (&#8220;<u>PROMESA<\/u>&#8220;).\u00a0 The lawsuit is brought by entities managed by Aurelius Capital Management,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-46803","post","type-post","status-publish","format-standard","hentry","category-negocios-y-finanzas"],"acf":[],"_links":{"self":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/46803","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/comments?post=46803"}],"version-history":[{"count":0,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/46803\/revisions"}],"wp:attachment":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media?parent=46803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/categories?post=46803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/tags?post=46803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}