IN RE: The FINANCIAL OVERSIGHT AND MANAGEMENT BOARD FOR PUERTO RICO, as representative for the Commonwealth of Puerto Rico; The Financial Oversight and Management Board for Puerto Rico, as representative for the Puerto Rico Highways & Transportation Authority, Debtors.
Peaje Investments LLC, Plaintiff, Appellant,
v.
The Financial Oversight and Management Board for Puerto Rico, as representative for the Puerto Rico Highways & Transportation Authority; Hon. Carlos Contreras-Aponte, in his official capacity as Executive Director of Puerto Rico Highways & Transportation Authority; The Financial Oversight and Management Board for Puerto Rico, as representative for the Commonwealth of Puerto Rico; Hon. Ricardo Rossello Nevares, in his official capacity as Governor of the Commonwealth of Puerto Rico; Hon. Raul Maldonado Gautier, in his official capacity as Secretary of Treasury of the Commonwealth of Puerto Rico; Hon. Jose Ivan Marrero Rosado, in his official capacity as Executive Director of the Office of Management & Budget; Puerto Rico Fiscal Agency and Financial Advisory Authority; Hon. Gerardo Jose Portela Franco, in his official capacity as Executive Director of the Puerto Rico Fiscal Agency and Financial Advisory Authority, Defendants, Appellees.
United States Court of Appeals, First Circuit.https://leagle.com/images/logo.png
John J. Rapisardi , New York, NY, Peter Friedman , Elizabeth L. McKeen , and O'Melveney & Myers LLP, Newport Beach, CA, on brief for appellees Puerto Rico Fiscal Agency and Financial Advisory Authority and Hon. Gerardo Jose Portela Franco.
Raul Castellanos and Development & Construction Law Group LLC on brief for appellee Hon. Carlos Contreras Aponte.
Wanda Vázquez Garced , Secretary of Justice, Luis R. Román Negrón , Solicitor General of Puerto Rico, Department of Justice, on brief for appellees Hon. Ricardo Antonio Roselló Nevares, Hon. Raúl Maldonado Gautier, and Hon. José Iván Marrero Rosado.
Before Howard, Chief Judge, Kayatta, Circuit Judge, and Torresen, Chief U.S. District Judge.
KAYATTA, Circuit Judge.
We are asked for the second time to weigh in on Peaje Investments LLC's claim that what it characterizes as its "collateral" is being permanently impaired. Peaje is the beneficial owner of $65 million of uninsured bonds issued by the Puerto Rico Highways and Transportation Authority ("Authority"). Peaje alleges that its bonds...
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