United States First Circuit
Peaje Investments LLC v. Garcia-Padilla, 16-2377
In consolidated appeals involving the application of certain provisions of the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA), 48 U.S.C. sections 2101-2241, a statute enacted by Congress in June 2016 to address Puerto Rico's financial crisis, the district court's judgment is: 1) affirmed as to denial of Peaje Investments LLC's lift-stay motion where plaintiff failed to set forth a legally sufficient claim of 'cause' to lift the PROMESA stay; and 2) vacated as to denial of other plaintiffs' lift-stay motion where they presented sufficient allegations to entitle them to a hearing.
Appellate Information
- Published 2017/01/12
Judges
- HOWARD
Court
- United States First Circuit