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Along with substantial reductions in payouts to the GO and PBA bondholders, the board is proposing a near wipe out for HTA, ERS, PRIFA rum, MBA, and CCDA bondholders.
October 1 -
The presidential candidate said Puerto Rico's debt should be audited and that some of it may have to be declared illegal and thus void.
September 16 -
The Oversight Board said that it expects to know by Oct. 25 whether it can propose a new plan of adjustment.
September 11 -
Laura Taylor Swain said she will decide some of the bond insurers' arguments when she resolves continuing adversary proceedings.
September 9 -
The law restricting various aspects of debt issuance goes beyond the central government to also cover the public corporations.
August 12 -
The two board members with the deepest knowledge of municipal debt have said they will depart.
August 5 -
Their suit against 11 bond underwriters will be heard in a local, rather than federal, court, the lead judge said Wednesday.
July 29 -
The United States Bureau of Labor Statistics' household and employer surveys tell different tales about the depth of Puerto Rico's downturn.
July 20 -
The Oversight Board welcomed the decisions and one litigant attorney said they would be appealed.
July 2 -
The local government's inertia and PROMESA's unwieldy structure, along with natural disasters and a global pandemic, have impeded Puerto Rico's recovery.
June 30