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PUERTO RICO ELECTRIC POWER AUTHORITY

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Case overview

Case Number:

3:17-bk-04780

Court:

Puerto Rico

Nature of Suit:

Firms

Companies

Sectors & Industries:

  1. February 16, 2018

    Muni Market Shaken By Puerto Rico Special Revenues Ruling

    Municipal bonds secured by pledged special revenue streams have long been prized as safe bets, but a recent ruling in Puerto Rico's restructuring cases that payment on those obligations is not required in bankruptcy has riled investors and left legal experts confounded over a largely untested Bankruptcy Code provision.

  2. November 03, 2017

    Puerto Rico Gov't Fights Appointment Of Utility Manager

    The government of Puerto Rico is pushing back against the installation of an emergency manager to run the island's beleaguered electric utility, saying Friday that the federal board overseeing the territory's finances is attempting to overstep the powers it was granted by Congress.

  3. November 01, 2017

    Puerto Rico Blasts Request For Restructuring Litigation Stay

    Puerto Rico has asked the federal judge overseeing its bankruptcy-like restructuring to deny one creditor's request to pause the massive case for 90 days in the wake of Hurricane Maria, saying a speedy resolution is essential to the island's recovery.

  4. October 24, 2017

    Puerto Rico Asks To Speed FEMA Relief Despite Bankruptcy

    Puerto Rico on Monday asked the federal judge overseeing its bankruptcy-like restructuring to streamline the disbursement of federal disaster relief funds to help the island rebuild in the wake of Hurricane Maria’s devastation, and one creditor has even proposed pausing the massive case for 90 days to give the parties some breathing room.

  5. October 10, 2017

    Fee Examiner Appointed In Puerto Rico Utility Restructuring

    The federal judge overseeing Puerto Rico's bankruptcy-like restructuring process has appointed a fee examiner to review many of the expense and fee requests submitted by attorneys working on the landmark $123 billion case.

  6. September 29, 2017

    Puerto Rico Rejects $1B Loan From Power Utility Bondholders

    Puerto Rico's beleaguered electric power company has rejected its bondholders' offer of a $1 billion debtor-in-possession loan, calling it a cynical and "unsolicited" ploy to boost debt prices and leapfrog other creditors even as the island struggles to rebuild in the wake of Hurricane Maria's devastation.

  7. September 27, 2017

    Puerto Rico Power Co. Bondholders Offer $1B DIP Loan

    A group of bondholders with interests in Puerto Rico's insolvent and beleaguered electric power company are offering to lend the utility $1 billion in new cash to help address damage wrought by Hurricane Maria, potentially positioning themselves for an earlier payout in the public corporation's restructuring.

  8. September 14, 2017

    Puerto Rico Utility Creditors Lose Bid To Appoint Receiver

    The oversight powers of the federally appointed board guiding Puerto Rico's historic restructuring were reaffirmed in a court ruling Thursday, finding that a group of bondholders could not move to appoint a receiver for the island's insolvent electric company without the panel's consent.

  9. September 13, 2017

    Puerto Rico Fuel Line Lenders Prep For Utility Revenue Fight

    Units of Scotiabank and hedge fund Solus Alternative Asset Management have asked the court overseeing Puerto Rico’s restructuring to let them intervene in a suit between the island’s government-owned power company and its bondholders, saying they’re owed $696 million by the power company that must be paid back ahead of all other claims.

  10. September 06, 2017

    Puerto Rico Electric Co. Wants Rate Row Heard By Fed. Court

    Puerto Rico's insolvent electric utility filed papers Tuesday to transfer a dispute over rate hikes to the federal court presiding over the island's historic bankruptcy-like proceedings, saying the matter challenges the authority of federal overseers and the law underpinning the territory's restructuring.