Puerto Rico

The government plans to use surplus funds from fiscal years 2022 to 2024 to fund the payments.

The board wants the court to reject a wide range of bondholder discovery requests related to their administrative expense claim.

The tax reform costs will be offset by reductions in certain government spending, application of excess revenues that are coming in, and elimination of certain tax exemptions.

Bondholders are seeking compensation from the U.S. government for their losses in the restructuring.

Puerto Rico Gov. Jenniffer González Colón filed suit to end the island's contract with LUMA Energy for electrical transmission and distribution.

This is the first upgrade of bonds supported by assets currently or formerly in the Puerto Rico government's hands since the passage of PROMESA in 2016.

92% of the holders or insurers of Puerto Rico Electric Power Authority bonds reportedly now oppose the Oversight Board's proposed restructuring deal.

Bondholders say the insurers reneged on the bond insurance terms, which both firms deny in filings for the case, filed six years after the COFINA restucturing.

The three Puerto Rico Oversight Board members can resume their positions immidiately, District Court Judge Maria Antongiorgi-Jordan ruled.