Thursday, August 18, 2022

Court Rejects Attempts to Halt POA

By on March 11, 2022

Judge Shoots Down Teacher, Credit Unions’ Case Against Debt Deal

U.S. District Judge Laura Taylor Swain denied last week a petition by public school teachers and credit unions to stop the implementation of the Puerto Rico government’s plan of adjustment (POA) on March 15 while they resolve their court appeals. Meanwhile, the administration of Gov. Pedro Pierluisi joined the island’s Financial Oversight and Management Board (FOMB) last week in opposing the motion filed by Puerto Rico Electric Power Authority (Prepa) creditors to have the federal court expedite the process of implementing the nearly three-yearold debt-restructuring deal.

Judge Swain rejected contentions by a teacher group alliance—made up of the Puerto Rico Teachers Federation; the National Union of Educators and Education Workers (Unete by its Spanish acronym); and the Educators Group for Democracy, Unity, Change and Militancy Union Organization (Educamos by its Spanish acronym)— that filed a motion last month before U.S. Judge Swain seeking a halt to the POA’s implementation next week while its challenges to the plan’s pension changes are reviewed by the U.S. First Circuit Court of Appeals in Boston.

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