Puerto Rico Insurance Commissioner: Stay Of Appeal Remains In Effect

Mealey's (May 27, 2021, 9:52 AM EDT) -- BOSTON — The Puerto Rico insurance commissioner and auxiliary rehabilitator on May 17 informed the First Circuit U.S. Court of Appeals that proceedings filed by the commonwealth of Puerto Rico under Title III of the Puerto Rico Oversight, Management and Economic Stability Act (PROMESA) for adjustment of its debts are ongoing and that the automatic stay of proceedings in their appeal over retaliation claims brought by the former employees of a liquidated insurer remains in effect....