Law360: Court Fight Over Puerto Rico Sales Tax Deal Wraps Up

January 17, 2019

January 17th marked the closing day of a two-day hearing involving a restructuring deal for Puerto Rico’s nearly US$18 billion in debt backed by sales-tax bonds.

It’s now up to U.S. District Judge Laura Taylor Swain to decide whether to approve a settlement and debt-structuring plan that “splits almost evenly pledged future sales tax collections between the commonwealth and COFINA bondholders.”

Lawyers from O’Melveny & Myers are representing Puerto Rico’s financial advisory agency.