The U.S. Supreme Court on Thursday agreed to decide whether members of Puerto Ri...
WASHINGTON - The U.S. Supreme Court on Thursday agreed to decide whether members of Puerto Rico’s federally created financial oversight board were lawfully appointed in a dispute that could disrupt the panel’s restructuring of about $120 billion of the bankrupt U.S. commonwealth’s debt.The justices will hear an appeal by the board after a lower court ruled in February that the 2016 appointments of its seven members violated the U.S.
The board welcomed the court’s decision to hear the case and said in a statement that its members “look forward to continuing their service.” In an effort to resolve the dispute, the White House on June 18 officially sent nominations for the board’s current members to the Senate. The Trump administration filed its own appeal to the Supreme Court defending the appointments.
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