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The step is said to be unprecedented in the history of Chapter 9 bankruptcy.
April 4 -
The IRS audit of the Puerto Rico Municipal Finance Agency's $59 million in 2005 Series B Refunding Bonds is the third IRS audit of tax-advantaged bonds involving the commonwealth announced over the last six weeks.
April 3 -
The board acknowledged Puerto Rico is in compliance with the fiscal 2019 budget, even as it wrangles with the local government over next year's plan.
April 2 -
A motion in Title III bankruptcy court by holders of $4 billion of PBA bonds may thwart an effort by the Oversight Board to nullify $6 billion of general obligation bonds.
March 21 -
The General Obligation group's lawyer says the board should focus on structural reforms and not legal challenges to bondholder claims.
March 13 -
The court rejected giving a full hearing less than a week after a request was made to it to do so.
March 7 -
The federal tax issue that is at stake in both audits involve the federal payments for the direct-pay subsidy.
March 1 -
Muni buyers scrambled to snatch up the last of this week’s new issues on Thursday.
February 28 -
The audit includes $121.5 million in Series 2011 T direct-pay qualified zone academy bonds and four Series 2011 R taxable of school construction bonds that totaled $ 756.4 million.
February 25 -
The ruling may benefit bondholders, though an appeal and political wrangling over Oversight Board appointments threaten to prolong the uncertainty.
February 19