April 09, 2019
Municipal bond insurers issued a stern warning Tuesday to the First Circuit asking that it revise its own ruling from last month that Puerto Rico does not have to make payments on special revenue bonds during its bankruptcy-like cases, saying the ruling creates market uncertainty and undermines long-held industry beliefs.
October 05, 2018
A group of bondholders on Thursday renewed their call to put a receiver in charge of Puerto Rico's electric utility, while the island's federally appointed fiscal oversight board sought information from the governor's office about an announced electric rate cut.
June 05, 2018
The First Circuit on Tuesday questioned whether a group of bondholders can step in and influence the actions of Puerto Rico's struggling public entities, during a morning of arguments before the appellate panel centering on the island commonwealth's historic restructuring.
February 16, 2018
Municipal bonds secured by pledged special revenue streams have long been prized as safe bets, but a recent ruling in Puerto Rico's restructuring cases that payment on those obligations is not required in bankruptcy has riled investors and left legal experts confounded over a largely untested Bankruptcy Code provision.
November 03, 2017
The government of Puerto Rico is pushing back against the installation of an emergency manager to run the island's beleaguered electric utility, saying Friday that the federal board overseeing the territory's finances is attempting to overstep the powers it was granted by Congress.
November 01, 2017
Puerto Rico has asked the federal judge overseeing its bankruptcy-like restructuring to deny one creditor's request to pause the massive case for 90 days in the wake of Hurricane Maria, saying a speedy resolution is essential to the island's recovery.
October 24, 2017
Puerto Rico on Monday asked the federal judge overseeing its bankruptcy-like restructuring to streamline the disbursement of federal disaster relief funds to help the island rebuild in the wake of Hurricane Maria’s devastation, and one creditor has even proposed pausing the massive case for 90 days to give the parties some breathing room.
October 10, 2017
The federal judge overseeing Puerto Rico's bankruptcy-like restructuring process has appointed a fee examiner to review many of the expense and fee requests submitted by attorneys working on the landmark $123 billion case.
September 29, 2017
Puerto Rico's beleaguered electric power company has rejected its bondholders' offer of a $1 billion debtor-in-possession loan, calling it a cynical and "unsolicited" ploy to boost debt prices and leapfrog other creditors even as the island struggles to rebuild in the wake of Hurricane Maria's devastation.
September 27, 2017
A group of bondholders with interests in Puerto Rico's insolvent and beleaguered electric power company are offering to lend the utility $1 billion in new cash to help address damage wrought by Hurricane Maria, potentially positioning themselves for an earlier payout in the public corporation's restructuring.