Puerto Rico

They say the HTA employees group have failed to show any of the four conditions needed for a court to order a stay.

The PFC bondholders are to get cash and some new appropriation-backed bonds.

The bondholders say they are owed $8.3 billion of principal and billions more of unpaid interest.

The workers say federal law bars the impairment of their wages.

There is chatter about a restructuring of UPR bonds, which have been paid throughout the territory's bankruptcy; the university's accreditation is a factor.

They say the Oversight Board's argument restricting their claims just to money in the sinking fund is wrong.

FAFAA and Gov. Pedro Pierluisi retain some influence over the direction of an adversary proceeding in the PREPA bankruptcy and on the ultimate PREPA bond deal.

The plan reduces HTA's $6.4 billion of total claims by more than 80% and saves Puerto Rico more than $3 billion in debt service payments, the Oversight Board said.

Swain said the bondholders lien on revenues and the recourse nature of the bonds needs to be determined. The judge would likely order a plan confirmation hearing take place by June 2023. 

While the parties generally support the start of litigation, they are arguing about everything else.