Bondholders sue the Government

On June 21, 2016, El Nuevo Día (Joanisabel González) reported that bondholders sued the Government of Puerto Rico.

According to the accessible kicker, they seek to declare the Moratorium Act unconstitutional and question the COFINA structure. The caption indicates an expected default on a nearly $2,000 million principal payment on July 1.

This desk does not invent the plaintiffs’ names, the forum, or the full prayer for relief: the rest of the body sits behind a paywall.

A lawsuit is not a judgment. An expected principal payment is not a disbursement or theft.