The judge overseeing the bankruptcy of Puerto Rico’s electric utility extended the halt on litigation connected to the case as the government-run power company negotiates with bondholders over how to cut its debts, Bloomberg News reported. U.S. District Court Judge Laura Taylor Swain kept the stay in place through Nov.
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The judge overseeing the bankruptcy for Puerto Rico’s government-owned electric utility continued a pause on litigation related to the case as the power provider and its creditors negotiate a possible debt-cutting deal, Bloomberg News reported. U.S. District Court Judge Laura Taylor Swain extended for an additional 30 days the litigation stay through Oct.
A new study is shedding light on the financial challenges people in Puerto Rico face as a result of the economic turmoil they have endured since the Great Recession, NBCNews.com reported. Findings from the National Financial Capability Study published in a report released yesterday show that many adults in the U.S.
The judge overseeing the bankruptcy of Puerto Rico’s electric utility directed the parties to reach a consensual debt-cutting deal through mediation and put a hold on most legal filings for at least 60 days to force the borrower and its creditors to focus on their negotiations, Bloomberg News reported. U.S.
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The Financial Oversight and Management Board for Puerto Rico was created under the Puerto Rico Oversight, Management and Economic Stability Act of 2016. The Board consists of seven members appointed by the President of the United States and one ex officio member designated by the Governor of Puerto Rico. Access information on the Board, documents, videos of meetings, calendar of events and live webcasts by clicking here.