I Declare Bankruptcy?: Puerto Rico v. Franklin California Tax-Free Trust Decided

Corporations, Securities & Antitrust Practice Group Courthouse Steps Teleforum

This morning the United States Supreme Court issued its opinion in Puerto Rico v. Franklin California Tax-Free Trust, finding that Chapter 9 of the federal Bankruptcy code preempts Puerto Rico’s Recovery Act. The decision prevents Puerto Rico from adopting a settlement plan for its debt through its own legislation and requires it to depend on Congress for a solution. Our expert will discuss the opinion and its implications.

Featuring:

• Prof. David Skeel, S. Samuel Arsht Professor of Corporate Law, University of Pennsylvania Law School

This morning the United States Supreme Court issued its opinion in Puerto Rico v. Franklin California Tax-Free Trust, finding that Chapter 9 of the federal Bankruptcy code preempts Puerto Rico’s Recovery Act. The decision prevents Puerto Rico from adopting a settlement plan for its debt through its own legislation and requires it to depend on Congress for a solution. Our expert will discuss the opinion and its implications.

Featuring:

• Prof. David Skeel, S. Samuel Arsht Professor of Corporate Law, University of Pennsylvania Law School

Call begins at 3:00 pm Eastern Time.

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