PROMESA

Observers say Puerto Rico's 2024 elections may not change government policy much.

The board askeds the judge to dismiss objections that claim its plan of adjustment is unconfirmable.

GoldenTree Asset Management, Syncora Guarantee, Assured Guaranty and certain members of an ad hoc group of the power utility's bondholders entered a cooperation agreement where they pledge to work together against the agency's potential debt-cutting plan, according to a court document.

The deal is expected to be executed Dec. 14, putting four government-run tollways under Albertis Infraestructuras SA, which already runs Puerto Rico toll roads.

They say the plan is unconfirmable in its current form and must be changed before any disclosure statement is approved.

The board says the First Circuit should stop GoldenTree and Syncora's efforts to appoint a receiver.

Puerto Rico's Treasury secretary says first quarter results are a good sign for fiscal stability.

The question is raised whether "invitations" to support the plan were the same as "solicitations."

Group's attorney is said to have experience arguing before the U.S. Supreme Court.

The group asked the First Circuit Court of Appeals to lift a stay that prevents appointment of a receiver.