Puerto Rico Electric Power Authority

If the unsecured creditors prevail in challenging the negotiated deal, the consensual restructuring of $4.1 billion may be thrown out.

Its estimates are more pessimistic than the Oversight Board’s projections of island gross domestic product.

Island residents would recover up to 50% of the value of their losses.

The committee is holding a public hearing on its report on the causes of the debt crisis on Sept. 18 in San Juan.

The Unsecured Creditors Committee continued an effort to change the deal in a hearing on Thursday.

They are also trying to take over representation of the Puerto Rico authorities in Government Development Bank debt restructuring.

The cut marks the first major retreat for OppenheimerFunds, one of the biggest mutual-fund owners of Puerto Rico debt and a company that’s playing a major role in its bankruptcy.

The unsecured creditors say that the deal treats the island’s government authorities in Title III bankruptcy unfairly.

The committee will review claims stemming from a 608-page report on the history of Puerto Rico's debt problem.

Since Puerto Rico formally filed the deal in court on Aug. 10, 13 parties have filed either court challenges or notices of intent to challenge the deal.