PROMESA

The committee is holding a public hearing on its report on the causes of the debt crisis on Sept. 18 in San Juan.

The Unsecured Creditors Committee continued an effort to change the deal in a hearing on Thursday.

They are also trying to take over representation of the Puerto Rico authorities in Government Development Bank debt restructuring.

The cut marks the first major retreat for OppenheimerFunds, one of the biggest mutual-fund owners of Puerto Rico debt and a company that’s playing a major role in its bankruptcy.

The unsecured creditors say that the deal treats the island’s government authorities in Title III bankruptcy unfairly.

Theboard says Gov. Ricardo Rosselló's plan needs reduced spending and more conservative projections for revenues.

The committee will review claims stemming from a 608-page report on the history of Puerto Rico's debt problem.

July's elevated revenues continue a several-month-long pattern of General Fund revenues coming in above budget.

Terms of the plan support agreement and term sheet are consistent with those first announced on Aug. 8.

Since Puerto Rico formally filed the deal in court on Aug. 10, 13 parties have filed either court challenges or notices of intent to challenge the deal.

A COFINA bondholder group welcomed the plan as a step toward consummating the COFINA restructuring agreement-in-principal.

With all the wrongdoing by powerful players in the public and private sectors, it appears very likely that these players may owe lots of money to bondholders.

Governor rejects ending Christmas Bonus or cutting pensions.

The report aims to answer how the debt problem developed and to make recommendations to prevent such a problem from ever arising again in Puerto Rico.

Judge Laura Taylor Swain sided with the retired employees, saying the bondholders' security interest was not properly perfected.

A judge's ruling on whether the U.S. government is responsible for covering Oversight Board-imposed bond losses may come in the winter.

A hurdle has been passed for a judge to issue a ruling on the federal government's responsibility for making investors whole on impaired Puerto Rico bonds.

Key parties say the Oversight Board must certify a fiscal plan with more revenue before they will approve the agreement.

The deadline for voting is 5 p.m. on Sept. 12.

In early December a Puerto Rico government official said that he expected the fiscal year General Fund revenues to be 25% less than budgeted.