Puerto Rico

The proposed 2020 budget has $139 million for the payment of debt.

The step is said to be unprecedented in the history of Chapter 9 bankruptcy.

Twenty-three members of Congress are urging the Oversight Board to pull back the bonds' underwriting and other fees.

The IRS audit of the Puerto Rico Municipal Finance Agency's $59 million in 2005 Series B Refunding Bonds is the third IRS audit of tax-advantaged bonds involving the commonwealth announced over the last six weeks.

The board acknowledged Puerto Rico is in compliance with the fiscal 2019 budget, even as it wrangles with the local government over next year's plan.

Puerto Rico governor signs measure for shift to renewable energy.

If the ruling holds, analysts said special revenue bonds may have to be re-evaluated based on the general credit of the issuer.

The House Natural Resources Committee has scheduled a May 2 hearing to examine the successes and failures of PROMESA.

The Senate on Wednesday debated a $13.45 billion disaster aid bill that would require Puerto Rico to assume a local share of additional FEMA aid rather than the 100% federal share in a bill passed by the House.

1st Circuit judges upheld the bankruptcy court's ruling that payment of special revenue bonds is voluntary.

As the board wrangles with local officials over the budget, neither the federal courts nor the executive branch have taken action to address a legal challenge to its authority.

A motion in Title III bankruptcy court by holders of $4 billion of PBA bonds may thwart an effort by the Oversight Board to nullify $6 billion of general obligation bonds.

The Board's authority to certify fiscal plans has become a flashpoint in an escalating battle with Puerto Rico's government.

Jaresko on Monday cited the almost universal dissatisfaction with the board as proof that it was doing its job.

The 2016 law is under fire from bond holders over the Oversight Board's failure to provide enough money for debt service and from local politicians over the board's efforts to impose fiscal austerity.

The General Obligation group's lawyer says the board should focus on structural reforms and not legal challenges to bondholder claims.

The board says that the governor appears to be deviating from the approved budget.

While the board is also seeking high court review, its goals are opposite of those of the union.

The court rejected giving a full hearing less than a week after a request was made to it to do so.

Puerto Rico Oversight Board says it can achieve much but not all of its pension restructuring plans without the local government's assistance.