(Reuters) Puerto Rico’s bankruptcy, aimed at restructuring $72 billion of debt, violates the U.S. Constitution and should be dismissed, the Aurelius Capital Management hedge fund said in a court filing on Monday. The U.S. commonwealth’s federally appointed oversight board initiated its debt-cutting proceeding in May under a law known as PROMESA. Puerto Rico is barred from traditional municipal bankruptcy protection under Chapter 9 of the U.S. code.
Aurelius Hedge Fund Seeks To Toss Puerto Rico’s Bankruptcy Filing
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