Dallas & Houston Federal Judges to Mediate Puerto Rico Bankruptcy
Two Texas judges have been appointed to play key roles in the $73 billion bankruptcy of Puerto Rico.
The federal judge handling the unprecedented restructuring of the U.S. territory has appointed Bankruptcy Chief Judge Barbara Houser of Dallas to head a five-member judicial panel to mediate key issues between the government of Puerto Rico and private companies that are creditors in the pending cases.
U.S. District Judge Laura Taylor Swain of New York also appointed U.S. Senior District Judge Nancy Atlas of Houseon the mediation panel.
Judge Swain said that judges Houser, Atlas and the three other panelists are "dedicated public servants" who have "substantial judicial and other professional experience in complex financial matters, including insolvency proceedings."
"I cannot imagine anyone better suited for this extraordinary challenge than Judge House," says Joe Coleman, a bankruptcy partner at Kane Russell Coleman & Logan in Dallas. "The Puerto Rico crisis is not a Chapter 11 and it is not a Chapter 9."
"These are unique, uncharted waters," Coleman says, "The resolution of this is going to be a significant challenge."
The Texas Lawbook
by Mark Curriden