Financial Oversight and Management Board Delineates Informal Process to Resolve Adversary Proceedings under PROMESA
Estrella LLC serves as local counsel to Brown Rudnick, Claims Counsel to the Financial Oversight and Management Board’s Special Claims Committee. In April and May 2019, the Board initiated a number of adversary proceedings in the PROMESA Title III case.
In order to avoid expensive and prolonged litigation, the Board set up an Informal Resolution Process for Vendor Avoidance Actions and Tolling Agreement. A description of the Process may be found in the PrimeClerk’s website: https://cases.primeclerk.com/puertoricoavoidanceactions/