Puerto Rico Sales Tax Financing Corp (COFINA)

Nelson Pérez Méndez will become the interim Secretary of the Treasury.

An appeals court is considering the arguments after bondholders lost in the lower court.

Taxpayers will get refunds in April, if the legislature approves the deal.

First quarter revenues were 20.4% higher than Oversight Board forecasts.

Puerto Rico's Treasury secretary says first quarter results are a good sign for fiscal stability.

Group's attorney is said to have experience arguing before the U.S. Supreme Court.

Ocean Capital's next move is to attemot to have its elected directors seated on the funds' board of directors.

But a change in how foreign corporations are taxed brought down total revenue for the year.

In direct costs to the budget, the proposal would cost Puerto Rico revenues $153.2 million of individual taxes and $283.6 million of corporate taxes per year, according to the governor. The Oversight Board disagrees.

The Puerto Rico General Fund has paid out $1.5 billion on the bankruptcies after initial expectations were $370 million over nearly a decade.