McKinsey & Co. is in the spotlight as the consulting giant faces a deadline to disclose potential conflicts of interest in advising Puerto Rico’s $120 billion restructuring, Bloomberg Law reported. A new law signed by President Biden on Jan.
Puerto Rico in Distress
A federal appeals court has upheld modifications to teachers’ pensions under Puerto Rico’s debt adjustment plan despite arguments from teachers’ associations that the changes violate commonwealth law, Reuters reported. The U.S.
Authorities in Puerto Rico said Tuesday that an electronic toll collection system was the target of a cyberattack over the weekend, the latest such incident in recent years, the Associated Press reported. The system, known as AutoExpreso, is run by a private operator called Professional Account Management.
Puerto Rico was slowly recovering from one of the largest power outages in years, after a fire near the Costa Sur power plant late Wednesday knocked out electricity to the entire island, Bloomberg News reported.
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.