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Senator Hawley Questions Judge Nominee Sparkle Sooknanan on Puerto Rico Debt Crisis Representation

Forbes Breaking NewsSeptember 7, 20257 min99,306 views
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Representation of Hedge Funds in Puerto Rico Debt Crisis

  • 🎯 Senator Josh Hawley questioned Judge nominee Sparkle Sooknanan about her role as a partner at Jones Day, representing several global hedge funds.
  • 💰 Sooknanan represented clients including Alter Global, Claren Road Asset Management, and others, who held significant bonds during Puerto Rico's 2017 debt crisis.
  • ⚖️ Hawley highlighted that Sooknanan's clients bought bonds and then, during the crisis, she filed a novel lawsuit under the takings clause on their behalf.
  • 💡 This lawsuit argued that freezing Puerto Rico's assets to ensure fair distribution to all bondholders, including everyday citizens, was unconstitutional as it allegedly
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What’s Discussed

Puerto Rico Debt CrisisSparkle SooknananJosh HawleyJones DayHedge FundsTakings ClauseBondholdersConfirmation HearingPuerto RicoUS ConstitutionAusterity Measures
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