The U.S. District Court for the District of Puerto Rico has found Special Police Force Corp. — a security company based in Bayamon — and its owner Héctor Rivera-Ortiz liable for violations of the minimum wage, overtime, and recordkeeping requirements of the Fair Labor Standards Act (FLSA). Following a four-day trial, the court ordered Rivera […]
The Financial Oversight and Management Board for Puerto Rico filed complaints to recover more than $1 billion from holders of bonds issued in excess of Puerto Rico’s constitutional debt limit, and from firms and advisors that helped with the issuance of those bonds. The Oversight Board filed a claim against more than 20 banks, law […]
The Bank of Nova Scotia, parent company of Scotiabank de Puerto Rico, has sued the government’s Metropolitan Bus Authority for defaulting on some $32 million in a revolving credit and term loan agreement. Furthermore, the bank has asked the San Juan Superior Court to issue an order for a “provisional embargo and prohibition of alienation […]
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