FOX Business Network’s (FBN) Liz Claman reports that a “lawsuit has just been filed and the suit would prevent Muni Bond holders of Puerto Rico’s debt from withdrawing their money.”
On whether a lawsuit has just been filed in regarding Puerto Rico’s debt:
“There’s been a lawsuit filed on behalf of the people you just talked about, the big money government bond holders of this Puerto Rican debt, which is very distressed right now. They would like to file a lawsuit to prevent anybody who holds Muni Bonds from removing their money. Now this should be a little disconcerting to anybody who suddenly says I want my money out now. This involved a lot of Municipal bond funds some 70 percent of exposure to what’s going on in Puerto Rico and sources are telling FOX Business that this lawsuit has just been filed and the suit would prevent Muni Bond holders of Puerto Rican debt from withdrawing their money.”
