https://www.businesswire.com/news/home/...-Plan-Demonstrates-Decision
The Revised Fiscal Plan allocates $1.5 billion for litigation and related expenses without providing for debt service. The Revised Fiscal Plan’s violations include: failure to respect the relative lawful priorities and lawful liens established by the constitution, laws, and agreements of the Commonwealth, as required by PROMESA 201(b)(1)(N);§ failure to ensure that assets, funds, or resources of an agency are not transferred to or otherwise used for the benefit of other agencies, instrumentalities, or the Commonwealth, as required by PROMESA § 201(b)(1)(M); failure to identify expenses for essential public services, as required by PROMESA § 201(b)(1)(B); failure to comply with Sections 303 and 928 of PROMESA; and failure to comply with the Contracts, Takings and Due Process Clauses of the United States Constitution. |