Puerto Rico

The bankruptcy judge planned a hearing on the topic for March 19.

They say the reasons the court had given to continue the stay are no longer valid.

A plan to sharply cut Community Development Block Grant program staffing follows Trump's statement that he is inclined to eliminate the Federal Emergency Management Agency.

They say if the board continues its current approach there will be years more of litigation with outcomes showing the board's positions are "baseless."

The executive director of the Puerto Rico Oversight Board suggested non-settling bondholders might be offered recoveries of about 4% of the principal due.

U.S. District Court Judge Laura Taylor Swain extended the bankruptcy's litigation stay to March 24 as mediators expressed hope about progress on a deal.

Bondholders say the Puerto Rico Energy Bureau is legally required to set rates to cover all bond principal and pre- and post-petition interest due. The board disagrees.

Some observers say Jenniffer González Colón, who took office in January, may be more open to compromise with Puerto Rico Electric Power Authority bondholders.

The decision, when issued, could have implications for other Puerto Rico bond restructurings.

The court has left in place its decision affirming the bondholders lien on net revenues.