Puerto Rico Public Buildings Authority

At issue is at least $340 million, the cities claim they are not liable for. The suit could impact the viability of the proposed plan of adjustment, but sources say the suit is unlikely to succeed.

The 'pension' bondholders have reached a preliminary deal with the Puerto Rico Oversight Board.

The plan and disclosure statement indicates only some of the terms for the HTA, CCDA, and PRIFA rum tax bonds.

Possible withdrawal of bond insurer support and the opposition of the local government to pension cuts are the biggest hurdles to the plan.

FAFAA head says that Puerto Rico is gaining "credibility" with investors.

An outside consultant provided recommendations on how the commonwealth can catch up on its long-delayed financial reporting, including a multi-year CAFR.

The deal continues to offer better recoveries for the guaranteed Public Building Authority debt than for general obligation debt, but trading of the GOs blew up with more than $180 million exchanging hands to higher prices.

Reducing tax fraud is one of the goals of the fiscal plan approved by the Puerto Rico Oversight Board in May.

Net revenues in the first six months were $5.19 billion. Without postponed income tax revenues from the prior fiscal year, this figure would have been $4.711 billion.

Puerto Rico private sector employment had an even more serious contraction in 2020 on the island than it did in the United States as a whole.

The Oversight Board asked the court to extend its deadline for submitting various documents including a term sheet to restructure the central government debt.

The judges found the appellants had failed to seek stays or appeals of the approved bond restructuring — on about $17.6 billion of debt — in a timely fashion and the plan had advanced well beyond the point where it could be practically undone.

The Puerto Rico Oversight Board has previously said there would be significant spending cuts in the the coming fiscal year.

Sixteen investment funds are making an argument on Employees Retirement System bonds that could be widened to other Puerto Rico bonds.

The board aims to improve transportation resources on the island.

Bondholders complain about lack of resolution and payment, and hitting 'deal exhaustion,' but some stakeholders are hopeful for a resolution this year.

The Economic Activity Index was down 0.4% from October.

Ambac says that PROMESA is against the Constitution's call for uniform bankruptcy codes.

Even with the November increase, General Fund Revenues collected from July to November were 5% below those of 2019.

Three of seven board members will be from the original group.