September 14, 2017
The oversight powers of the federally appointed board guiding Puerto Rico's historic restructuring were reaffirmed in a court ruling Thursday, finding that a group of bondholders could not move to appoint a receiver for the island's insolvent electric company without the panel's consent.
September 13, 2017
Units of Scotiabank and hedge fund Solus Alternative Asset Management have asked the court overseeing Puerto Rico’s restructuring to let them intervene in a suit between the island’s government-owned power company and its bondholders, saying they’re owed $696 million by the power company that must be paid back ahead of all other claims.
September 06, 2017
Puerto Rico's insolvent electric utility filed papers Tuesday to transfer a dispute over rate hikes to the federal court presiding over the island's historic bankruptcy-like proceedings, saying the matter challenges the authority of federal overseers and the law underpinning the territory's restructuring.
August 08, 2017
Bond insurers with interest in most of the $8.3 billion in outstanding bond debt issued by Puerto Rico's government-owned power company launched a complaint Monday to force the utility to remit pledged funds for debt service, saying the company has failed to honor contractual obligations.
July 18, 2017
A group of Puerto Rico Electric Power Authority bondholders Tuesday told a bankruptcy court that the utility's financial troubles make the bondholders legally entitled to see a receiver appointed to protect their interests.