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Puerto Rico Sales Tax Bond Row On Track For Dec. Resolution

Law360, New York (August 9, 2017, 9:33 PM EDT) -- The federal judge overseeing Puerto Rico’s landmark insolvency proceedings nudged forward a consensual plan to settle a key creditor dispute over liens on the territory’s sales tax revenues before the end of the year, approving the appointment of agents to represent competing bondholders at a hearing Wednesday.

The dispute over whether pledged revenues collected by the Puerto Rico Sales Tax Financing Corp., known as COFINA, can be used to satisfy the commonwealth’s general debt obligations is slated to be resolved by Dec. 15 under a method...
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