Key Puerto Rico bondholders asked the court to set plan-of-adjustment deadlines for the Puerto Rico Oversight Board to meet, Bond Buyer reported. Four groups of investment funds filed the joint motion on Tuesday night in the U.S. District Court for Puerto Rico, which is handling the bankruptcy.
Puerto Rico in Distress
Bond insurer National Public Finance Guaranty filed a motion on Monday in a court seeking an investigation of likely illegal hedge fund trading of Puerto Rico bonds during mediation over those bonds, Bond Buyer reported. National filed the motion Monday afternoon in the U.S.
The U.S. Virgin Islands has called off efforts to sell its rum-tax collections to bondholders, extending the struggling territory’s long banishment from credit markets, WSJ Pro Bankruptcy reported. Gov.
Puerto Rico’s federally-appointed oversight board on Wednesday made its case to reject $5.5 billion in bond debt as part of the commonwealth’s ongoing financial restructuring, Reuters reported. Appearing before U.S.
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.