Whitefish Power Co. Objects To PR Utility Restructuring Deal

Law360 (September 20, 2019, 10:06 PM EDT) -- A power company whose contract to restore hurricane-damaged electric lines in Puerto Rico was canceled amid controversy in 2017 said Friday the island's utility can't restructure until it explains how it's going to pay the $126 million the company says it's owed.

Montana-based Whitefish Energy Holdings told a bankruptcy court that the Puerto Rico Electrical Power Authority should not be allowed to settle with its bondholders until it explains if it will be able to pay Whitefish and other administrative claimants after making the payments to the bondholders called for in the restructuring agreement.

"WEH and other pre-existing administrative creditors are...

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