The Commonwealth of Puerto Rico and other related entities have filed petitions for relief under Title III of the Puerto Rico Oversight, Management, and Economic Stability Act ("PROMESA") and now they have filed Adversary Cases for the recovery of money/property - 547 preference. 

We have represented creditors in the defense of adversary lawsuits brought under § 547 of the Bankruptcy Code to avoid preferential payments. A preference is a payment of an antecedent debt made by a debtor to a creditor within 90 days before a bankruptcy case is filed. Section 547 of the Bankruptcy Code permits a debtor (or trustee of the bankruptcy estate) to sue the creditor that received the payment for a refund if the payment is legally considered a preference and none of the applicable defenses apply.  

If you received a collection letter but an adversary proceeding has not commenced, act now, call us to explore your options.

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