Puerto Rico

If the appeals court rules for them, the bond parties say, a new plan of adjustment may be needed.

The court is considering whether the original PREPA trust agreement gave bondholders a lien on all revenues, which they argue should extend beyond the debt restructuring, or only on the money the authority deposited in its reserve fund.

While this appeal was rejected, the panel suggested bondholders could immediately file a new motion for relief.

Bond parties say several parts of the original trust agreement support their lien on the authority's revenues.

Board chairman says Juan Sabater will bring valued economic expertise to the panel.

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

The board says the bondholders have no "unsecured claim" and only a lien on a small amount of money held by the authority when it was placed into bankruptcy.

Judge says the issues can be considered at March's confirmation hearing.

A deal to provide more money for defaulted AES bonds is also under way.

Higher income tax collections, mainly from corporations, have contributed to the higher than expected revenue, for the period that began on July 1.