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O’Melveny’s Uhland and Martin Co-Author Article for Law360 on Puerto Rico’s Debt Enforcement and Recovery ActJuly 16, 2015 O'Melveny & Myers partner Suzzanne Uhland and associate Christopher Martin co-authored the article, “The First of Several Legal Roadblocks Ahead for Puerto Rico,” which appears in the July 15, 2015, edition of Law360. The article details the latest roadblock in Puerto Rico's efforts to resolve its looming debt crisis as well as the potential legal challenges it may face down the road. On July 6, 2015, the US Court of Appeals for the First Circuit affirmed the decision of the District of Puerto Rico that Puerto Rico’s Debt Enforcement and Recovery Act, which created a bankruptcy-like regime through which select Puerto Rican public corporations could restructure their debt obligations without unanimous creditor consent, is unconstitutional and permanently enjoined its enforcement.
Uhland is a partner in O’Melveny’s San Francisco and Newport Beach offices and Chair of the US Restructuring Practice. Martin is an associate in O'Melveny's San Francisco office and a member of the Transactions Department.