Puerto Rico Board Reaches Deal With Highway Bondholders

Law360 (May 5, 2021, 10:08 PM EDT) -- Puerto Rico's fiscal oversight board said Wednesday that it had reached a deal with the holders of more than $2 billion in highway and convention center bonds to end ongoing litigation and slash the amount owed by the island's government by 70%.

The agreement will commit the bondholders to support the Fiscal Oversight and Management Board's proposed restructuring of the island's debt in return for cash, new bonds and a potential cut of future sales tax revenue, according to the announcement.

"This agreement is another significant step towards resolving Puerto Rico's bankruptcy process," the board's  executive director, Natalie Jaresko, said in...

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!


Attached Documents

Related Sections

Judge Analytics

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!