Bondholders Sue To Guard Puerto Rico Electric Co. Money

Law360, New York (August 8, 2017, 6:04 PM EDT) -- Bond insurers with interest in most of the $8.3 billion in outstanding bond debt issued by Puerto Rico's government-owned power company launched a complaint Monday to force the utility to remit pledged funds for debt service, saying the company has failed to honor contractual obligations.

MBIA Inc. subsidiary National Public Finance Guarantee Corp., Assured Guaranty Corp., Syncora Guarantee Inc. and a group of Puerto Rico Electric Power Authority bondholders are suing the authority, the federally appointed board overseeing the territory's landmark debt restructuring and the commonwealth's fiscal advisory agency in an effort to preserve collateral the insurers say is not being...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!