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Creditors of Puerto Rico government bank revive lawsuit over debt moratorium
May 22, 2016 by creative · Leave a Comment
By Nick Brown SAN JUAN (Reuters) – Hedge funds who own debt at Puerto Rico's Government Development Bank are accusing the bank and the island's governor of giving preferential treatment to local creditors under a law designed to restructure GDB's debt, signaling a breakdown in a tentative restructuring deal the sides reached earlier this month. A bondholder group that includes hedge funds Brigade, Claren Road and Fir Tree updated an existing lawsuit against the bank and Governor Alejandro Garcia Padilla late Friday…
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Creditors of Puerto Rico government bank revive lawsuit over debt moratorium