Puerto Rico

The investment firms that did not agree to the Oversight Board-led settlement would see only 3.5% of original par under the plan.

The Puerto Rico General Fund has paid out $1.5 billion on the bankruptcies after initial expectations were $370 million over nearly a decade.

José Pérez Riera will fill the post that has been vacant for over three years.

Peterson objected to the board's treatment of PREPA bondholders.

GoldenTree Asset Management noted the judge in Sept. 29, 2022, had demanded "meaningful deadlines" in the bankruptcy.

Bondholders retain the right to argue on appeal that they perfected their liens on revenues and funds.

Following another court ruling on a 2022 labor law the Oversight Board rejected, Puerto Rico professors doubt the local government will operate more responsibly any time soon.

Plan of adjustment deadline schedule gets extended to Aug. 18.

Economists remain guarded about the island's economic future.

The restructuring would make bondholders whole, but the bonds' maturities are being pushed out by 25 to 35 years.