Puerto Rico

Bankruptcy Judge Laura Taylor Swain still has to rule on two other Unsecured Creditors Committee challenges.

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.

Retail investors lined up to get first crack at the New York City Transitional Finance Authority deal.

The New York City Transitional Finance Authority began the first of a two-day order period geared toward retail investors.

Theboard says Gov. Ricardo Rosselló's plan needs reduced spending and more conservative projections for revenues.