Tuesday, April 24, 2018

Puerto Rico bankruptcy hearing moved to New York

By on April 13, 2018

SAN JUAN – In the interest of reducing the cost and time associated with counsel traveling to Puerto Rico and in light of the limited number of matters scheduled for an April 25 omnibus hearing, Judge Laura Taylor Swain has decided to hold the latter in New York.

The hearing will be conducted in Courtroom 17C2 of the U.S. District Court for the Southern District of New York, Daniel Patrick Moynihan Courthouse, on 500 Pearl St.  and transmitted via video teleconference in a courtroom to be determined at the U.S. District Court for the District of Puerto Rico, she said.

Swain’s World: April 25 Critical Date for Cofina-GO Dispute

The government has already said it may be spending more than $1.4 billion on the bankruptcy process under the Promesa law. As a matter of fact, one of the topics expected to be discussed at that hearing is the legal fees.

The request, according to the document, appears to have been made by the Financial Oversight and Management Board.

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