Puerto Rico

PREPA bondholders who back the Oversight Board's proposed deal say it will lose their support if not confirmed by Oct. 1.

Analysts unsure about the impact of the firings on bondholders.

The federal government didn't have enough influence in the resulting haircuts to the COFINA bondholders for it to be liable for their losses, the court said.

The funds have net assets of around $187 million.

U.S. District Judge Laura Taylor Swain gave no indication at the hearing as to how she was leaning and said some issues might not be able to be resolved as a matter of law.

First Southern LLC failed to timely and accurately report on trades executed for an affiliated hedge fund, FINRA said.

Two New York members of Congress called them "vulture funds" trying to get "blood out of a turnip" at the expense of Puerto Rico electricity customers.

Puerto Rico's disputes with New Fortress Energy, the parent of the island's power plant operator, Genera PR, could spread to PREPA.

As long as the Oversight Board offers virtually nothing to many PREPA bondholders, the bankruptcy is likely to be tied up for years in litigation.