March 04, 2024
Puerto Rico's fiscal oversight board told a federal judge on Monday that it had the only plan to save the island's troubled electric utility, while bondholders claimed the board had created the plan specifically to shortchange them.
October 13, 2023
A Puerto Rican business group asked a federal judge to reject the disclosure statement of the Puerto Rico Electric Power Authority's reorganization plan Friday, saying its rate hikes are unfair and economically unviable.
September 05, 2023
Puerto Rico's fiscal management board has filed the restructuring support agreement it reached with holders of Puerto Rico Electric Power Authority bonds included in its revised restructuring plan for the utility.
July 14, 2023
A New York federal judge has given Puerto Rico's fiscal oversight board two more weeks to file a restructuring plan for the island's electric utility after the board said it has prospects of a deal with the utility's bondholders.
June 27, 2023
A New York federal judge has found the holders of $8 billion in bonds issued by Puerto Rico's electric utility have just under $2.4 billion in claims against the utility's future revenue, saying she was unconvinced the bonds could ever be fully repaid.
June 13, 2023
Talks are at a standstill on breaking an impasse over more than $8 billion in Puerto Rico Electric Power Authority bondholder claims, mediators working the bankruptcy case told a New York judge overseeing a restructuring of the utility's debt on Tuesday.
May 03, 2023
The New York federal judge overseeing the debt restructuring of Puerto Rico's electric utility on Wednesday ordered bondholders and the island's fiscal oversight board to explain why they've failed to make progress in plan mediation.
February 28, 2023
A New York federal judge sent a $4.3 billion reorganization plan for the Puerto Rico Electric Power Authority out for a creditor vote Tuesday, overruling arguments from bondholders that the plan stands no chance of confirmation.
February 10, 2023
Puerto Rico's fiscal oversight board has filed a reorganization plan for the island's electric utility that it says will trim $4.3 billion in debt with bondholder settlements and claim limits while paying off the remaining $5.7 billion in debt over the next 35 years with an electric rate surcharge.
December 09, 2022
Puerto Rico's fiscal oversight board secured yet another filing deadline extension regarding its electric utility's refinancing plan Friday, getting five extra days after telling the court they cut a deal with the holders of more than $700 million in bonds and could reach additional deals if mediation continues.