John Arrastia, Jr., Jesus Suarez, and Angelo Castaldi are pleased to be part of the team led by Selendy Gay Elsberg PLLC in the case Drivetrain LLC v. Barclays Capital Inc. et al. The Law360 article published on September 19, 2022 covers recent developments in the case.
“Financial institutions involved in Puerto Rican bonds are facing a renewed press in federal court to pay back more than $486 million collected from the island’s government with the restart of a suit claiming they profited from bonds that never should have been issued.
On Thursday the Commonwealth Avoidance Actions Trust ended a 2½-year pause in the suit in Puerto Rico district court with a revised complaint arguing that multiple financial institutions pressed an insolvent commonwealth government into issuing illegal bonds and engaging in risky interest swaps.”
