PROMESA

The judges found the appellants had failed to seek stays or appeals of the approved bond restructuring — on about $17.6 billion of debt — in a timely fashion and the plan had advanced well beyond the point where it could be practically undone.

The effects of COVID-19 on Puerto Rico are severe and the island's capacity to repay its debt has changed. The Oversight Board's objectives in the debt-restructuring process, however, have not.

No ruling was issued and the judges' sympathies could not be easily deciphered.

The Puerto Rico Oversight Board has previously said there would be significant spending cuts in the the coming fiscal year.

Sixteen investment funds are making an argument on Employees Retirement System bonds that could be widened to other Puerto Rico bonds.

The board aims to improve transportation resources on the island.

Bondholders complain about lack of resolution and payment, and hitting 'deal exhaustion,' but some stakeholders are hopeful for a resolution this year.

The Economic Activity Index was down 0.4% from October.

Pedro Pierluisi wants to make sure that employees are not dismissed and don't lose their benefits, among other things.

Ambac says that PROMESA is against the Constitution's call for uniform bankruptcy codes.

Gov. Pedro Pierluisi says Francisco Rodríguez Dosal is experienced in the construction and infrastructure industry.

Even with the November increase, General Fund Revenues collected from July to November were 5% below those of 2019.

Three of seven board members will be from the original group.

Some economists say the changes, such as a rise in minimum wage, would be a negative for the local economy.

Bankruptcy judge Swain barred the government from implementing and enforcing the revenue and spending laws the Oversight Board had challenged.

With the November jobs report showing a decline in employment, and the coronavirus raging, economists debate the state of the commonwealth's economy heading into the new year.

Bondholders say Puerto Rico is in a good position to pay the amounts listed in the February 2020 proposed Plan of Adjustment.

The board wants to increase tax compliance, spend more on healthcare capital projects, and advance the release of CAFRs, among other things.

He has a background working in the island's pharmaceutical industry and for the island's government working to attract and retain private sector firms.

How assumptions are settled on revenues, spending, and the economy will affect the Commonwealth debt plan.