June 12, 2024
The First Circuit said Wednesday that bondholders of the Puerto Rico Electric Power Authority have valid liens worth $8.5 billion on the revenue of the utility, reversing a lower court's ruling but leaving it up to the bankruptcy court to determine what effect that has on the restructuring plan.
December 19, 2023
Attorneys general from 14 states have filed an amicus brief in an appeal of the Puerto Rico Electric Power Authority's bankruptcy plan in the First Circuit, arguing eliminating bondholders' security interest in future revenues would undermine municipal bond markets nationwide.