Saturday, December 5, 2020

Puerto Rico fiscal board will ask Supreme Court to review decision on member appointments

By on February 28, 2019

(Photo on Visual hunt)

SAN JUAN – The Financial Oversight and Management Board for Puerto Rico announced Thursday that it will ask the U.S. Supreme Court to review the Feb. 15 decision by the U.S. Court of Appeals for the First Circuit, which held that its members are federal officers who have to be appointed pursuant to the Appointments Clause of the U.S. Constitution.

The board said it will also ask for a stay of the First Circuit’s mandate, pending the U.S. Supreme Court consideration of the board’s petition for a writ of certiorari.

In its announcing release, the board reiterated that it “has been given the responsibility to help Puerto Rico to achieve fiscal responsibility and access to the capital markets,” and that the Puerto Rico Oversight, Management and Economic Stability Act (Promesa) established it “as an entity within the government of Puerto Rico and not the Federal Government”; therefore, “the Appointments Clause does not apply to the members of the Oversight Board.”

Promesa’s appointment process,” the board added, “has established a bipartisan board, ensuring balanced decisions to help Puerto Rico recover and prosper.”

The majority of the board’s members voted in favor of the decision to appeal.

Swain’s World: First Circuit Ruling Delays P.R.’s GO Debt-Adjustment Plan

You must be logged in to post a comment Login