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IN RE FINANCIAL OVERSIGHT AND MANAGEMENT BD.

No. 18-2194.

939 F.3d 356 (2019)

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 and Transportation Authority; the Financial Oversight and Management Board for Puerto Rico, as Representative for the Puerto Rico Electric Power Authority (Prepa); the Financial Oversight and Management Board for Puerto Rico, as Representative for the Puerto Rico Sales Tax Financing Corporation, a/k/a Cofina; the Financial Oversight and Management Board for Puerto Rico, as Representative for the Employees Retirement System of the Government of the Commonwealth of Puerto Rico, Debtors, Autonomous Municipality of Ponce (AMP), Movant, Appellant, v. 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 and Transportation Authority; the Financial Oversight and Management Board for Puerto Rico, as Representative for the Puerto Rico Electric Power Authority (PREPA), Debtors, Appellees, The Puerto Rico Fiscal Agency and Financial Advisory Authority, Movant, Appellee.

United States Court of Appeals, First Circuit.

September 25, 2019.

Attorney(s) appearing for the Case

Carlos Fernandez-Nadal , Ponce, PR, for appellant Autonomous Municipality of Ponce (AMP).

John E. Roberts , with whom Timothy W. Mungovan , Boston, MA, Martin J. Bienenstock , Steven L. Ratner , Jeffrey W. Levitan , Mark D. Harris , and Proskauer Rose LLP, New York, NY, were on brief, for 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 and Transportation Authority; the Financial Oversight and Management Board for Puerto Rico, as Representative for the Puerto Rico Electric Power Authority (PREPA).

Before Lynch, Lipez, and Thompson, Circuit Judges.

This appeal primarily concerns whether the Title III court abused its discretion in refusing to lift the automatic stay in PROMESA, 48 U.S.C. § 2161(a) (incorporating 11 U.S.C. § 362), to allow the Municipality of Ponce to secure specific performance by the Commonwealth of Puerto Rico of public works projects required...

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