Holland & Knight LLP (JD Supra Puerto Rico)

• The U.S. Court of Appeals for the First Circuit has upheld a controversial ruling by a U.S. District Court in a case involving special revenue bonds issued by the Puerto Rico Highway Transportation Authority (PRHTA). • The District Court ruled in January 2018 that the Authority was permitted, but not required, by the U.S. Bankruptcy Code to apply special revenues to pay the bonds during...