A proposed amended contract between Puerto Rico’s government and the operator of a coal-fired power plant accused of contaminating low-income communities on the island drew scrutiny Monday during a heated public hearing, the Associated Press reported.
Puerto Rico in Distress
Puerto Rico’s bankruptcy created some debt securities that don’t pay interest, but still managed to deliver an almost $400 million windfall to investors this month, Bloomberg News reported.
A group of U.S. lawmakers is asking tax authorities to accelerate an investigation into rich Americans seeking lucrative tax breaks in Puerto Rico, Bloomberg News reported.
A federal judge on Tuesday tentatively approved a portion of the newest plan to restructure $10 billion of debt owed by Puerto Rico’s power company amid heated negotiations between creditors and the U.S. territory’s government, the Associated Press reported.