Legal Opinion
Ambac Assurance Corp. v. Commonwealth (In Re Fin. Oversight & Mgmt. Bd. for Puerto Rico)
Court of Appeals for the First Circuit
Decided June 24, 2019No. 18-1214PPublishedCited by 3 opinions
1Opinion of the Court
KAYATTA, Circuit Judge.
*600 Ambac is a financial guaranty insurer and individual holder of Puerto Rico Highways and Transportation Authority (HTA) bonds. In this Title III adversary proceeding arising within HTA's debt-adjustment proceedings pursuant to the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA), Ambac brings constitutional and statutory challenges to measures the Commonwealth of Puerto Rico has taken to block payments to holders of HTA bonds. Because the Title III court lacks the authority to grant the declaratory and injunctive relief that Ambac seeks, we affirm…
2Cases cited13 opinions
- United States v. Ilario M.A. ZanninoCourt of Appeals for the First Circuit · 1990
- Assured Guaranty Corp. v. Fin. Oversight & Mgmt. Bd. for Puerto Rico (In Re Fin. Oversight & Mgmt. Bd. for Puerto Rico)Court of Appeals for the First Circuit · 2019
- Lyda v. City of Detroit, Mich. (In Re City of Detroit, Mich.)Court of Appeals for the Sixth Circuit · 2016
- Méndez-Núñez v. Fin. Oversight & Mgmt. Bd. for P.R. (In re Fin. Oversight & Mgmt. Bd. for P.R.)Court of Appeals for the First Circuit · 2019
- Maloy v. Ballori-LageCourt of Appeals for the First Circuit · 2014
8 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Assured Guaranty Corp. v. Fin. Oversight & Mgmt. Bd. for Puerto Rico (In Re Fin. Oversight & Mgmt. Bd. for Puerto Rico)Court of Appeals for the First Circuit · 2019
- Assured Guaranty Corp. v. Commonwealth of Puerto RicoCourt of Appeals for the First Circuit · 2021
- Berrios-Correa v. MAPFREDistrict Court, D. Puerto Rico · 2020