Puerto Rico

The funds will be in addition to the $160 million from the Emergency Reserve Fund that the board released March 12.

Puerto Rico Oversight Board seeks delay in central government restructuring

Judges said the district court judge was reasonable in her treatment of the case differently from that of a corporate bankruptcy.

Puerto Rico Gov. Wanda Vázquez Garced issued an order for all residents except a few classes of essential employees to remain at home.

Appointee Marrero has extensive backgrounds in government service, law, and finance.

The bond's Official Statement warned not to expect payments on time.

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.