U.S. District Judge Laura Taylor Swain restarted litigation of the Puerto Rico Electric Power Authority bondholders' $3.7 billion administrative expense claim Wednesday.
Work on the claim has been paused since August, when
Swain told parties they should create a schedule for discovery on the administrative expense topic: what should be sought and produced.
A joint status report on discovery schedules and content proposals is due by Nov. 24.
At Wednesday's Puerto Rico omnibus hearing, attorneys for the board, the PREPA Ad Hoc Bondholder Group, Puerto Rico's Fiscal Agency and Financial Advisory Authority, and the Unsecured Creditors Committee said they were in favor of restarting discovery discussions.
Attorney Thomas Lauria, representing GoldenTree Asset Management, said given the uncertainty about the composition of the board and the importance of this issue, GoldenTree preferred delaying action until the December omnibus hearing as long as its rights would be reserved.
The money from
G. Eric Brunstad Jr., attorney for the PREPA Ad Hoc Bondholder Group, told Swain that in the last few months the group of investment houses led by BlackRock