A judge on Thursday ordered banks to comply with a request from Puerto Rico'...
The flag of Puerto Rico flies outside the Capitol building in San Juan, Puerto Rico May 4, 2017. REUTERS/ Alvin Baez
The ruling boosts a potential effort by the board to recover billions of dollars in payments made to bondholders should a federal court hearing Puerto Rico’s bankruptcy cases choose to invalidate disputed debt issued by the government and its agencies. The Bank of New York Mellon, Bank of America Corp, JP Morgan Chase Bank, and U.S. Bank objected to the board’s request last week, citing concerns over disclosing confidential customer information, as well as the cost and ability to produce a large amount of information by the April 19 deadline set by the board.
It was unclear whether the banks will appeal. Attorneys for the banks either declined to comment or could not immediately be reached.
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