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Puerto Rico in Distress

Most Recent Bankruptcy Case Docket Information for Commonwealth of Puerto Rico (17-03283)

  • Certificate of service Related document:359 Objection filed by PEAJE INVESTMENTS LLC filed by Adam M. Adler on behalf of Prime Clerk, LLC
    Attachments:
  • Notice of Filing Exhibits Related to the Disclosure Statement for the Amended Title III Plan of Adjustment of the Debts of Puerto Rico Sales Tax Financing Corporation and the Amended Title III Plan of Adjustment of the Debts of Puerto Rico Sales Tax Financing Corporation. Re: 4294 Notice filed by THE EMPLOYEES RETIREMENT SYSTEM OF THE GOVERNMENT OF THE COMMONWEALTH OF PUERTO RICO, The Financial Oversight and Management Board for Puerto Rico, as Representative of the Commonwealth of Puerto Rico, et al., 4296 MOTION Amended Title III Plan of Adjustment of Puerto Rico Sales Tax Financing Corporation. filed by COMMONWEALTH OF PUERTO RICO, PUERTO RICO SALES TAX FINANCING CORPORATION (COFINA), The Financial Oversight and Management Board for Puerto Rico, as Representative of the Commonwealth of Puerto Rico, et al. (Attachments: # 1 Exhibit A # 2 Exhibit B) filed by HERMANN D BAUER ALVAREZ on behalf of COMMONWEALTH OF PUERTO RICO, PUERTO RICO SALES TAX FINANCING CORPORATION (COFINA), The Financial Oversight and Management Board for Puerto Rico, as Representative of the Commonwealth of Puerto Rico, et al.
    Attachments: 1, 2
  • Certificate of service Related document:4238 MOTION -Informative Motion in Support of the Employees Retirement System of the Government of Puerto Rico's Objection to Motion for Lift of Stay filed by Cooperativa de Ahorro y Credito Vegabajena and in Compliance with Order (ECF No. 4194) re:( filed by PUERTO RICO FISCAL AGENCY AND FINANCIAL ADVISORY AUTHORITY filed by Adam M. Adler on behalf of Prime Clerk, LLC
    Attachments:
  • Docket listing powered by Prime Clerk. For previous documents and more information, please click here

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    ABI Analysis

    Puerto Rico violated a law meant to safeguard the pensions of its public-sector workers who have been unable to invest the more than $300 million they contributed to a new retirement plan, according to a lawsuit filed yesterday against the U.S. commonwealth’s government and others by two labor unions, Reuters reported. The litigation, filed in U.S.

    Puerto Rican legislators gave approval Thursday to a final agreement for restructuring bonds from the Sales Tax Financing Corp., known as COFINA, Pensions & Investments reported. The COFINA restructuring agreement was filed Oct. 19 in the court overseeing Puerto Rico's bankruptcy, under Title III of the Puerto Rico Oversight, Management and Economic Stability Act.

    A U.S. judge yesterday approved Puerto Rico’s first consensual debt restructuring deal, helping wind down the Government Development Bank (GDB), the island’s former fiscal agent, Reuters reported. Government lawyers called the confirmation hearing a “historic moment” for the U.S. commonwealth’s financial recovery.

    The construction workforce, estimated at roughly 33,000 before Hurricane Maria, will need to double to keep up with demand to rebuild roads, houses and other infrastructure damaged in last year’s storm season, said Emilio Colon-Zavala, president of the Puerto Rico Builders Association, the Wall Street Journal reported.

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    The Financial Oversight and Management Board for Puerto Rico was created under the Puerto Rico Oversight, Management and Economic Stability Act of 2016. The Board consists of seven members appointed by the President of the United States and one ex officio member designated by the Governor of Puerto Rico. Access information on the Board, documents, videos of meetings, calendar of events and live webcasts by clicking here.