Client Alerts 
PUERTO RICO’S RECOVERY ACT DECLARED UNCONSTITUTIONAL BY THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF PUERTO RICO
The United States District Court for the District of Puerto Rico (the “Court”) issued an Opinion and Order on Friday February 6, 2015 declaring that the Puerto Rico Public Corporation Debt Enforcement and Recovery Act (the “Recovery Act”) is unconstitutional.
2013 IN REVIEW: KEY PUERTO RICO DECISIONS FOR INSOLVENCY PROFESSIONALS
BANKRUPTCY, INSOLVENCY AND REORGANIZATION GROUP LEGAL ALERT During 2013, our federal courts tackled important insolvency and bankruptcy related issues that affect the balance among lenders, individuals, and corporate debtors. This alert summarizes the areas affected by some of these decisions, and the impact on lenders and debtors.
TAX PREPAYMENT AND REDUCED RATES FOR RETIREMENT FUNDS
Act No. 77 of 2014 (“Act 77”) amends the Puerto Rico Internal Revenue Code of 2011 (the “PR Tax Code”) to, among other things, allow for the prepayment at a reduced tax rate of the income accumulated in certain retirement assets. The election for the prepayment is available from July 1, 2014 to October 31, 2014 (the “Prepayment Window Period”).
TRANSFORMATION AND ENERGY RELIEF ACT
Act No. 57 of May 27, 2014 On May 27, 2014, the Governor of Puerto Rico signed into law, Act No. 57 of 2014, known as the Transformation and Energy Relief Act (the “Energy Reform Act” or the “Act”). The Act transforms the regulatory framework of the electric system and energy industry by encouraging a more efficient energy system and the establishment and maintenance of fair and reasonable electricity costs.
Client Alerts
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PUERTO RICO’S RECOVERY ACT DECLARED UNCONSTITUTIONAL BY THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF PUERTO RICO
The United States District Court for the District of Puerto Rico (the “Court”) issued an Opinion and Order on Friday February 6, 2015 declaring that the Puerto Rico Public Corporation Debt Enforcement and Recovery Act (the “Recovery Act”) is unconstitutional.
2013 IN REVIEW: KEY PUERTO RICO DECISIONS FOR INSOLVENCY PROFESSIONALS
BANKRUPTCY, INSOLVENCY AND REORGANIZATION GROUP LEGAL ALERT During 2013, our federal courts tackled important insolvency and bankruptcy related issues that affect the balance among lenders, individuals, and corporate debtors. This alert summarizes the areas affected by some of these decisions, and the impact on lenders and debtors.
TAX PREPAYMENT AND REDUCED RATES FOR RETIREMENT FUNDS
Act No. 77 of 2014 (“Act 77”) amends the Puerto Rico Internal Revenue Code of 2011 (the “PR Tax Code”) to, among other things, allow for the prepayment at a reduced tax rate of the income accumulated in certain retirement assets. The election for the prepayment is available from July 1, 2014 to October 31, 2014 (the “Prepayment Window Period”).
TRANSFORMATION AND ENERGY RELIEF ACT
Act No. 57 of May 27, 2014 On May 27, 2014, the Governor of Puerto Rico signed into law, Act No. 57 of 2014, known as the Transformation and Energy Relief Act (the “Energy Reform Act” or the “Act”). The Act transforms the regulatory framework of the electric system and energy industry by encouraging a more efficient energy system and the establishment and maintenance of fair and reasonable electricity costs.
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