Puerto Rico

Puerto Rico bankruptcy judge Laura Taylor Swain ordered Wednesday what some said was an overly aggressive schedule for approving a central government debt restructuring.

The plan still faces formidable opposition from multiple parties.

A former Puerto Rico bankruptcy attorney says the firms have conspired to break the law so as to advance their financial interests over those of their clients.

Puerto Rico-based creditors took steps Tuesday to oppose the two biggest proposed restructurings of the commonwealth's bonds.

The money is for post-Maria reconstruction costs.

Although not perfect, this is the type of deal that members of Congress envisioned when authoring PROMESA.

The governor tells the judge it makes no sense to commence a process aimed at approving the plan without her support.

Elí Díaz Atienza will leave his posts as PRASA executive director and liaison to the oversight board later this month.

Having rejected a Puerto Rico Oversight Board request to dismiss the challenges to the restructuring because it would be extremely difficult to undo, a U.S. appeals court is about to entertain the board's arguments on the challenges' substance.

The total employment number slipped below one million in December, according to the U.S. Bureau of Labor Statistics.

Puerto Rico Bankruptcy Chief Mediator Barbara Houser said that the bankruptcy judge should rule on issues concerning "nonsecured creditors."

Deal offers up to 76% for Public Building Authority bonds but as little as 3% for $16B of bonds subordinated to the GO debt in Puerto Rico's constitution.

Recoveries would be from 65% to 77% for general obligation and Public Building Authority bondholders.

The report says that the bond restructuring plan would lead to greatly increased rates and drastically cut usage.

Puerto Rico’s nonvoting House representative said that President Trump has selected Coast Guard Rear Adm. Peter Brown to serve as disaster czar.

On Sunday Puerto Rico's governor said she would oppose rate increases to support the authority's debt restructuring.

The ERS bondholders' lien didn't survive the bankruptcy filing, the First Circuit Court of Appeals said.

An Oversight Board lawyer said that an announcement might be made in the next 30 days.

Puerto Rico's legislature may not want to approve what would effectively be an electricity rate increase, said analysts at a recent conference.

Issues surrounding revenue bonds may delay resolution on the central government debt.