PROMESA

The study also projected a $1.475 trillion loss to productive infrastructure by 2050.

The plan involves building modern infrastructure and streamlining government operations and delivery of services.

Current Members Andrew Biggs and John Nixon will be reappointed for another three years.

The bondholders have a lien on what has been received and not on what will be received, according to the Oversight Board and Unsecured Creditors.

The bond parties and the Oversight Board are now arguing over the meaning of the word "account."

The judges will take written statements to decide whether to rehear the case, although petitions for rehearing are generally rejected, one observer noted.

U.S. District Judge Swain wants the parties to reach an agreement and again threatened to dismiss the case.

Some PREPA bond parties suggest the bonds should paid in full, while the board is offering around 4% to those who haven't accepted a settlement.

The board's executive director said he is unsure how much longer the PREPA bankruptcy proceedings will take.

In a separate development, the board asked an appeals court to reconsider its PREPA decision.