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Following another court ruling on a 2022 labor law the Oversight Board rejected, Puerto Rico professors doubt the local government will operate more responsibly any time soon.
August 15
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Plan of adjustment deadline schedule gets extended to Aug. 18.
August 11
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The restructuring would make bondholders whole, but the bonds' maturities are being pushed out by 25 to 35 years.
August 7
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Judge Swain approves another deadline extension for a proposed plan of adjustment.
August 4
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The board and the PREPA bond parties told Swain they had reached "an agreement in principle to resolve the outstanding perfection issues" in the bankruptcy.
July 31
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The fiscal 2024 General Fund increases 2.5%
June 30
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U.S. District Judge Laura Taylor Swain ordered the Oversight Board propose a new plan of adjustment by July 14.
June 28
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Judge Laura Taylor Swain said she found the Oversight Board expert's calculations more convincing than those of the bondholders.
June 27
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The board is offering $2.4 billion to all bondholders while $8.5 billion of par value is outstanding.
June 26
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The plan of adjustment hearing scheduled for late July will be postponed.
June 22
