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Assured Guaranty CEO Dominic Frederico said at the recent AFGI Puerto Rico Bankruptcy Risk Summit that "the open disregard of law" among public officials in Puerto Rico "could give public officials elsewhere reasons to believe they could escape their obligations."
May 7 -
James Spiotto, Managing Director at Chapman Strategic Advisors, explains why he believes U.S. district court Judge Swain's decision on special revenue bonds was wrong, and the impact it may have on revenue bond issuance, at the recent AFGI Puerto Rico Bankruptcy Risk Summit.
May 7 -
KBRA senior managing director William Cox, when discussing lessons learned from the Puerto Rico debt crisis at the recent AFGI Puerto Rico Bankruptcy Risk Summit, noted that the behavior of management sends "strong signals regarding credit character," in this case "chronically late financial statements."
May 7 -
At the recent AFGI Puerto Rico Bankruptcy Risk Summit, Matt Fabian, partner and lead analyst at Municipal Market Analytics, noted that investors "would like to have more distinguishing between credits, but market realities limit their ability to do so."
May 7 -
The board wants to recover more than $1 billion in payments and fees on bonds it deems illegal.
May 2 -
The suits against non-bond creditors are a step in an effort to claw bank money that will extend to bondholders.
May 1 -
Democratic representatives hailed the decision, which averts an interruption of the effort to restructure the island's debt.
April 30 -
Board says it it will sue those who held at least $2.5 million of the challenged bonds from May 2013 to May 2017.
April 29 -
The board says it will file law suits seeking to claw back funds from bondholders before the end of Thursday, May 2.
April 26 -
Judge Swain's ruling complicates the Puerto Rico Oversight Board's effort to recover payments on $6 billion of bonds that the board deems to have been illegally sold.
April 24