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A class-action lawsuit alleges four of the world’s largest oil suppliers cheated Puerto Rico's electric utility out of more than $1 billion.
April 24 -
Puerto Rico’s Federal Oversight Board is asking the U.S. Supreme Court to overturn a ruling that deemed its members unconstitutionally appointed.
April 23 -
The Oversight Board in its fiscal plan had projected a 5.06% population drop after the 2017 hurricanes; the Census Bureau found a 3.9% decline.
April 18 -
They say that the Oversight Board has shown itself to be slow and obstructionist in attacking illegitimate bonds and prosecuting guilty parties.
April 17 -
January revenue beat the original budget projection by 36%, raising hopes that there will be more money to pay bondholders as the island's debt is restructured.
April 16 -
Ambac and FGIC filed motions in support of the Puerto Rico Oversight Board's effort to declare illegal $6 billion of the commonwealth's bonds.
April 15 -
The firms are saying they shouldn't have to participate in the disclosure, which could lead to a clawback of bond payments.
April 12 -
One group of GO holders says that pre-fiscal 2012 guaranteed debt should have higher priority for repayment than the newer bonds.
April 11 -
PREPA says it needs federal money to complete the work of rebuilding the commonwealth’s electrical grid following the destruction caused by Hurricanes Maria and Irma, but the Trump administration has been slow to disburse funds already approved by Congress.
April 9 -
The proposed 2020 budget has $139 million for the payment of debt.
April 9