Tue 01/03/2023 06:29 AM
Relevant Documents:Memorandum of LawSupplemental Memorandum
On Thursday, Dec. 29, 13 banks and 10 “John Doe” entities that served as underwriters for Puerto Rico municipal bonds or interest rate swaps moved to dismiss commonwealth avoidance action trustee Drivetrain LLC’s action to claw back various payments on the bonds, which Drivetrain asserts were illegally issued. The defendants argue that Drivetrain’s complaint should be dismissed because all of the challenged transfers were...
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