Puerto Rico’s Fiscal Board Wants to Take Its Case to US Supreme Court

Feb 28, 2019
2:28 PM

In response to a February 15 ruling the questioned the constitutionality how members of Puerto Rico’s Financial Oversight and Management Board were appointed, the board tweeted on Thursday that it wanted to take the case to the United States Supreme Court.

To be clear, just because the Fiscal Board wants to take the case to the Supreme Court does not mean that SCOTUS will take the case.

As one Puerto Rican lawyer told our founder on Twitter:

The initial ruling from the U.S. Court of Appeals for the First Circuit was reported by several outlets, including Caribbean Business, which said the following:

Judge Juan R. Torruella said in his opinion that fiscal board members must be selected in a manner consistent with the clause. The ruling was made in an appeal brought by Aurelius Investment LLC, Assured Guaranty Corp. and the Irrigation & Electrical Workers Union (Utier by its Spanish acronym) against the constitutionality of the board.

The Boston court affirmed the district court’s ruling against Aurelius and Utier, rejecting their motions to dismiss the board’s bankruptcy-like petitions under Title III of the Puerto Rico Oversight, Management and Economic Stability Act (Promesa) and ratified all of the board’s past actions.