The U.S. government isn’t liable for losses on $3 billion in Puerto Rico pension bonds, a federal judge said Monday, rejecting efforts to put U.S. taxpayers on the hook for compensating investors.
Judge Richard A. Hertling of the U.S. Court of Federal Claims said bondholders can’t hold the U.S. government responsible for losses they may incur in the court-supervised restructuring of Puerto Rico’s debts. A federally appointed oversight board has been steering that restructuring since 2016, part of a broader push to rehabilitate…
