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Legal Blow to the UPR

US Bank's lawsuit is the first one filed against Puerto Rico by one of the banks contracted by the government to guard its bond issue and pay bondholders

20 de agosto de 2016 - 8:25 AM

Archival note

This content was published more than 8 years ago.

The legal action initiated by US Bank is the first one filed by this institution—which has served as trustee of a Puerto Rico bond issue—against the government.

By Joanisabel González

Editora de Negociosjoanisabel.gonzalez@gfrmedia.com

If the United States District Court of Puerto Rico does not accept an injunction request that would allow for the recovery of the tuition fees that were destined to pay about $432 million, the bondholders of the University of Puerto Rico (UPR) will not see a single cent starting next December.