Puerto Rico board out of time to file claims against bondholders



Demonstrators wave miniature Puerto Rican flags during a rally at Foley Square in New York, U.S., on Wednesday, Oct. 4, 2017.

A bid by Puerto Rico’s federally appointed oversight board to have more time to file claims against bondholders was denied Wednesday by the judge overseeing Puerto Rico’s Title III bankruptcy proceedings, U.S. District Judge Laura Taylor Swain. The current two-year statute of limitations ends May 2.

Ms. Swain also rejected a request by an unsecured creditors committee to pursue claims for fraud against advisers, underwriters and others involved in the sale of Puerto Rico debt. The committee sought permission on the grounds that the oversight board would not pursue them.

On Tuesday, the oversight board asked the U.S. Supreme Court to review an appeals court ruling that its members were not properly appointed. Ms. Swain has ruled that the appointments were proper.

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