Puerto Rico Creditors Again Seek Discovery as Clock Ticks

Unsecured creditors in Puerto Rico’s mammoth insolvency proceedings have asked the court to allow them to investigate possible legal claims that might lead to recovery benefiting the island’s creditors.

The motion is of some urgency because time is running out to file lawsuits to recover money or property.

The Official Committee of Unsecured Creditors’ Nov. 27 motion is its third request for permission to probe for possible lawsuits and comes after an independent investigator issued a “woefully deficient” report on such possible claims, in the committee’s words.

The extent of discovery is limited, the committee said. It seeks from the ...