Puerto Rico in Distress
Video Features
ABI Analysis
Aurelius Capital Management, a major Puerto Rico bondholder, asked a federal judge on Wednesday to throw out the U.S. territory’s historic bankruptcy, challenging the constitutionality of the board overseeing the island’s finances, Reuters reported. At a hearing in federal court in New York, Aurelius told U.S.
The number of Puerto Ricans who fell behind on their home loans following the devastation of Hurricane Maria may be peaking while federal mortgage guarantors debate how long to protect property owners from foreclosure, WSJ Pro Bankruptcy reported.
The U.S. federal board managing Puerto Rico’s finances will consider fast-tracking four energy projects that would invest a combined $1.47 billion in the island’s decimated power grid, Reuters reported.