COMMONWEALTH OF PUERTO RICO and Puerto Rico Public Buildings Authority (PBA)

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Case overview

Case Number:

3:17-bk-03283

Court:

Puerto Rico

Nature of Suit:

Firms

Companies

Sectors & Industries:

November 07, 2018
Puerto Rico Gov't Bank Restructuring Deal Gets Court OK

The federal judge overseeing Puerto Rico's bankruptcylike proceedings on Tuesday approved a contentious $4.1 billion deal to restructure its Government Development Bank over the objections of some creditors, making it the first of the island's insolvent public entities to successfully restructure its debts out of court.
October 23, 2018
Puerto Rican Board Fights Creditors' Collateral Bid At 1st Circ.

The government agency representing Puerto Rico's largest public pension fund has asked the First Circuit to uphold a ruling denying bondholders' claims to the fund's collateral under the island's bankruptcy process.
September 18, 2018
Creditors Can't Put Stop To Puerto Rico GDB Restructuring

A Puerto Rico federal judge denied on Tuesday a motion by unsecured creditors in its government's bankruptcy proceedings to enforce a stay and prevent a proposed Government Development Bank restructuring, finding that neither the automatic stay nor the court's stay order applies to moves made by the debtor.
July 25, 2018
Puerto Rico Gov't Battles Over Fed. Board Budgeting Powers

Attorneys for Puerto Rico's governor and lawmakers told the judge presiding over the island's bankruptcy-like cases on Wednesday that the federal board appointed to oversee the restructuring process must be stopped from implementing fiscal plans that effectively change legislative policy in the commonwealth.
July 16, 2018
Puerto Rico Pension Investors Can Sue US Gov't, Judge Rules

A federal judge on Friday rebuffed the U.S. government by forcing it to face a lawsuit brought by a group of investors with billions at stake in diverted Puerto Rico public pension contributions, saying the bondholders have a valid constitutional claim against a federal entity.
April 26, 2018
Puerto Rican Unions Sue To Void Restructuring Proceedings

A handful of nonprofits and labor unions have hit Puerto Rico's embattled federal oversight board with a lawsuit that seeks to disband it, calling the board a "reckless, dictatorial and racist" entity that's unconstitutional and riddled with conflicts of interest.
April 20, 2018
Puerto Rico Sales Tax Bond Fight Sparks Muni Market Anxiety

Municipal bond investors are paying close attention to what happens in a pending court fight over the validity of bondholder liens on Puerto Rican sales tax, experts say, warning of widespread consequences should investments thought to be bankruptcy-proof turn out otherwise.
March 07, 2018
Puerto Rico Atty Fees Of $50M OK'd Amid Billing Concerns

The attorneys and other professionals working on the Puerto Rican public's dime in landmark court proceedings to restructure the territory's crippling debt had their first applications for fees authorized Wednesday, totaling near $50 million, after being warned about billing practices and the close scrutiny they are under.

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