Puerto Rico

Puerto Rico Title III Judge Laura Taylor Swain retained control over deciding about the island's sales tax bonds and diminished the Oversight Board’s role in the case at Wednesday’s hearing.

Puerto Rico's oversight board's decision against the power authority's restructuring support agreement moves $9 billion of debt closer to bankruptcy.

A deal to restructure $9 billion of Puerto Rico electric debt fell apart as a federal control board rejected the accord Tuesday, pushing the island’s main power utility closer to a potential bankruptcy.

Puerto Rico’s bondholders and bond insurers made court filings Monday to protect their interests as the historic municipal debt restructuring proceeds.

Puerto Rico said the money belongs to the agency as it works through bankruptcy proceedings to reduce its debt.

The Puerto Rico legislature approved a General Fund budget without debt service, leaving it to the Oversight Board to say where money for bond payments will come from in fiscal 2018.

The governor said the Oversight Board lacks the authority decide about staffing levels and personnel spending.

The chief U.S. District judge for Puerto Rico has appointed a helper judge in the commonwealth's Title III bankruptcy case.

Seven people, including two former Puerto Rico government officials, were indicted Wednesday in two related corruption cases affecting more than $10 million.

A group of Puerto Rico bondholders accused the Oversight Board and governor of minimizing the commonwealth's health in a proposed budget that is too generous to non-debt holders.