Puerto Rico Restructuring Has Widespread Financial Impact

On Wednesday, Puerto Rico’s Governor declared that the commonwealth would seek protection under Title III, a court-supervised bankruptcy-like restructuring process. The restructuring of Puerto Rico’s $70 billion in outstanding debt would be the largest in the history of the U.S. municipal bond market and will have widespread implications in the equity and bond markets, as […]

Wildfire Insurance Coverage Issues: Physical Damage and Prevailing on Claims for Business Interruption, Lost Profits, and Indirect Losses

The wildfires which recently raged in and around the Great Smoky Mountains have caused substantial damage to communities and businesses throughout Eastern Tennessee and Western North Carolina.  Wildfires in this area  destroyed hundreds of structures, burned well over a hundred thousand acres, caused substantial casualties, and displaced thousands of people.  These communities are strong and […]