PROMESA

At stake was the treatment of nearly $1 billion of Puerto Rico bonds and notes.

PREPA bondholders' filing cites the Bankruoptcy Code, the PREPA Trust Agreement and other documents.

Had the teachers' challenge succeeded, the cost to Puerto Rico could have been $1 billion. A challenge to the plan from credit unions is before the First Circuit Court of Appeals.

Robert Mujica Jr.'s experience with New York State debt makes him a good choice, according to an observer.

HTA employees say they will appeal the stay rejection.

The lenders say document will prevent the use of Vitol as a separate consenting impaired class.

In a fuel line lenders' motion, they requested information about the actual terms of the agreement between the board and Vitol, including the circumstances under which Vitol's commitment to vote in favor of the plan arose.

Revenues were up while economic activity slipped, with some observers suggesting Hurricane Fiona may have had a negative impact on the economy.

The appeals court judges seemed unmoved by the arguments.

Fuel line attorney questions validity of the party as an impaired class.

They say the HTA employees group have failed to show any of the four conditions needed for a court to order a stay.

The PFC bondholders are to get cash and some new appropriation-backed bonds.

The bondholders say they are owed $8.3 billion of principal and billions more of unpaid interest.

The workers say federal law bars the impairment of their wages.

There is chatter about a restructuring of UPR bonds, which have been paid throughout the territory's bankruptcy; the university's accreditation is a factor.

They say the Oversight Board's argument restricting their claims just to money in the sinking fund is wrong.

FAFAA and Gov. Pedro Pierluisi retain some influence over the direction of an adversary proceeding in the PREPA bankruptcy and on the ultimate PREPA bond deal.

Swain said the bondholders lien on revenues and the recourse nature of the bonds needs to be determined. The judge would likely order a plan confirmation hearing take place by June 2023. 

While the parties generally support the start of litigation, they are arguing about everything else.

A multi-option plan of adjustment would be filed within 60 days.