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In a 47 page complaint plus appendices, Assured and National christened the PFPR with the word “illegal” and asked the court to throw out the Oversight board’s petition under tittle III. (GFR Media)
In a 47 page complaint plus appendices, Assured and National christened the PFPR with the word “illegal” and asked the court to throw out the Oversight board’s petition under tittle III. (GFR Media)

Arguing that the Fiscal Plan for Puerto Rico (PFPR, by its Spanish acronym) is contrary to PROMESA and that through it Puerto Rico will not return to the capital markets for a long time, municipal insurers Assured Guaranty and National Public Finance Guarantee Corp. became the first creditors to question the petition under tittle III for the Island’s government.