UPDATE 1-Puerto Rico board files flurry of lawsuits ahead of claim deadline

Puerto Rico's federally created financial oversight board on Tuesday began filing the first round of scores of lawsuits seeking to recover money the bankrupt U.S. commonwealth paid to bondholders, businesses and others. The board has until the end of this week to file certain claims after the U.S. judge hearing Puerto Rico's bankruptcy cases declined to extend an expiring two-year statute of limitations. More than 230 complaints were filed in U.S. District Court in Puerto Rico targeting about $4.2 billion in payments made by the island's government, according to the board.