Puerto Rico Oversight Management and Economic Stability Act’s (”PROMESA”) U.S. District Court Judge Laura Taylor Swain rejected arguments made by the Government of Puerto Rico that the lawsuit cites faulty claims based on PROMESA and denied the Government’s motion to dismiss in a lawsuit or adversary proceeding filed by Puerto Rico’s Financial Oversight Management Board (“FOMB”) over a new pension and healthcare funding law, Law 29, that would transfer hundreds of millions of dollars in municipal pension and healthcare coststo the Government of Puerto Rico.
