Commonwealth of Puerto Rico

Many Puerto Rico legislators want the governor to cut PREPA's debt by 75% before they will support his spending measure.

A board member and Gov. Pedro Pierluisi expressed disappointment about the inability of the board and the government to come to a consensus budget.

Puerto Rico-based Ocean Capital is trying to gain control of several local tax-free income funds by electing members to the funds' board of directors, but current board members have refused to give up their seats.

An appeals court ruled the Oversight Board can stop laws that are inconsistent with PROMESA's purpose.

The Oversight Board has issues with the joint resolution.

The bill, which would overturn a 2017 law, is awaiting Gov. Pedro Pierluisi's signature to become law.

A survey shows local business owners are more pessimistic than they were six months ago.

The board and its law firm O'Neil & Borges clashed with challenger Carlos Lamoutte in court papers.

The board continues to struggle with the local government on fiscal matters six years after PROMESA's passage.

A firm representing the Oversight Board also represented firms that acquired a loan portfolio from a board-controlled entity.

A teachers' request was rejected, but another ruling could force the board to release documents it chose to withhold.

The territory has to respond to a change in U.S. tax policy that will eliminate a substantial source of revenue.

Teachers petition court for a rehearing before the full appeals court panel of judges.

The local government's bond restructuring law specified the tax was to go to the General Fund starting on March 15.

With the ink still drying on the central government restructuring, analysts give takeaways from Puerto Rico's bankruptcy. Some point to credit fundamentals, others to lack of willingness to pay, as key drivers of the bankruptcies.

Issue is disposition of $1 billion to $2 billion of Puerto Rico government funds.

In a win for the Oversight Board and bondholders, an appeals court shut down a teachers' associations challenge, but another case challenging the plan has yet to be decided.

The board says the governor will have to make many changes to its budget.

The majority on the court said upholding the benefits could have opened the door to a broad range of other federal benefits to Puerto Rico residents.

Revenues were also up compared to the Oversight Board's projection made on Jan. 27.