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Z. Smith Quoted in Law360 on Puerto Rico's Financial Future

SCOTUS' interpretation of Bankruptcy Code to affect Puerto Rico's financial future
December 8, 2015

Bankruptcy & Financial Restructuring Member Zach Smith was quoted in Law360 on December 8 in the article "High Court's Ch. 9 Stance Key To Puerto Rico's Fate." The article discusses how The Supreme Court of the United States' interpretation of the Bankruptcy Code which allows states financial autonomy. At the center of the issue is whether or not Puerto Rico, as a U.S. territory, is eligible for the same financial solutions, like Chapter 9, that state municipalities can access to unburden themselves from debt.

The author writes, "Zachary Smith of Moore & Van Allen PLLC said he found Bhatia's amicus brief, which seizes upon Judge Torruella's concurring opinion, thought-provoking. 'The concurrence was written in such a passionate manner,' Smith said. 'It really made me step back and try to look at the overall situation more broadly.'"

To read the whole article, click here.