Puerto Rico

The House Natural Resources Committee has scheduled a May 2 hearing to examine the successes and failures of PROMESA.

The Senate on Wednesday debated a $13.45 billion disaster aid bill that would require Puerto Rico to assume a local share of additional FEMA aid rather than the 100% federal share in a bill passed by the House.

1st Circuit judges upheld the bankruptcy court's ruling that payment of special revenue bonds is voluntary.

As the board wrangles with local officials over the budget, neither the federal courts nor the executive branch have taken action to address a legal challenge to its authority.

Municipal bonds remained stronger on Thursday as deals from Indianapolis and California issuers came to market.

A motion in Title III bankruptcy court by holders of $4 billion of PBA bonds may thwart an effort by the Oversight Board to nullify $6 billion of general obligation bonds.

The Board's authority to certify fiscal plans has become a flashpoint in an escalating battle with Puerto Rico's government.

Jaresko on Monday cited the almost universal dissatisfaction with the board as proof that it was doing its job.

The 2016 law is under fire from bond holders over the Oversight Board's failure to provide enough money for debt service and from local politicians over the board's efforts to impose fiscal austerity.

The General Obligation group's lawyer says the board should focus on structural reforms and not legal challenges to bondholder claims.