FRANKLIN CALIFORNIA TAX-FREE TRUST v. PUERTO RICO

Civil Nos. 14-1518 (FAB), 14-1569(FAB).

85 F.Supp.3d 577 (2015)

FRANKLIN CALIFORNIA TAX-FREE TRUST, et al., Plaintiffs, v. Commonwealth of PUERTO RICO, et al., Defendants. BlueMountain Capital Management, LLC, Plaintiff, v. Alejandro J. Garcia-Padilla, et al., Defendants.

United States District Court, D. Puerto Rico.

Signed February 6, 2015.


Attorney(s) appearing for the Case

Jonathan M. Wagner , Tom Mayer, Phil Bentley, Amy Caton, Kramer Levin Naftalis & Frankel, LLP, New York, NY, Manuel Fernandez-Bared , Linette Figueroa-Torres , Toro, Colon, Mullet, Rivera & Sifre, PSC, San Juan, PR, Laura R. Dominguez-Llerandi , Guaynabo, PR, for Plaintiffs, Franklin California Tax-Free Trust, et al.

Christopher Landau , Claire Murray , Eugene F. Assaf , James H.M. Sprayregen , Jeffrey Powell , Liam P. Hardy , Michael A. Glick , Susan M. Davies , Kirkland & Ellis, LLP, Washington, DC, Janitza M. Garcia-Marrero , Joseph G. Feldstein-Del Valle , Maraliz Vazquez-Marrero , Jorge L. Flores-De Jesus , Department of Justice, Jorge R. Roig-Colon , Gonzalez, Machado & Roig, LLC, Alejandro Febres-Jorge , Pietrantoni Mendez & Alvarez, Virgilio J. Machado-Aviles , San Juan, PR, Lawrence Bart Friedman , Lewis Jeffrey Liman , Sean Aaron O'Neal , Clearby Gottlieb Steen & Hamilton LLP, New York, NY, Richard James Cooper , Guaynabo, PR, for Defendants, Commonwealth of Puerto Rico, et al. and Alejandro J. Garcia-Padilla, et al.

Matthew D. McGill , Scott G. Stewart , Theodore B. Olson , Gibson, Dunn & Crutcher LLP, Washington, DC, Matthew J. Williams , Gibson, Dunn & Crutcher LLP, New York, NY, Jeffrey M. Williams-English , Leticia Casalduc-Rabell , David C. Indiano-Vicic , Indiano & Williams, PSC, San Juan, PR, for Plaintiff, BlueMountain Capital Management, LLC.


OPINION AND ORDER

Plaintiffs in these two cases seek a declaratory judgment that the Puerto Rico Public Corporation Debt Enforcement and Recovery Act ("Recovery Act") is unconstitutional. (Civil No. 14-1518, Docket No. 85; Civil No. 14-1569, Docket No. 20.) Before the Court are three motions to dismiss plaintiffs...

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