Puerto Rico

A Biden executive order may lead to the expansion of a central Puerto Rico industry — pharmaceuticals.

The Securities and Exchange Commission previously charged one of the seven, an unregistered investment adviser, with similar allegations.

Highlights of that aid include $3 billion for K through 12 schools, $308 million for childcare, and $370 million for rental, mortgage, and homeless assistance.

The pandemic and the resultant lockdowns have hit employment in the 50 states worse than they have on the island, which saw a 1.6% decline.

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.

An appeals court ruled that PRIFA and HTA issuers do not have to pay debt service during the Puerto Rico bankruptcy.

Even though the report has been publicly available for more than two years, the Oversight Board is still asked the perennial question: Why didn't we audit the debt? We did.