Puerto Rico

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

A multi-option plan of adjustment would be filed within 60 days.

The Puerto Rico Oversight Board is seeking the return of fees connected with Puerto Rico bonds and swaps.

Swain postponed Wednesday's bankruptcy hearing in the case and extended the comment deadline.

Bondholders want a quick resolution and they say the Oversight Board's approach would take two years.

Judge Swain on Wednesday will consider the Oversight Board's proposal to commence litigation on creditor claims.

Puerto Rico's Fiscal Agency and Financial Advisory Authority said it "is available to assist the municipalities, as financial advisor and fiscal agent of the Government, on any restructuring that it deems necessary."

The statement could be interpreted as also suggesting a restructuring of $242 million in bonds.

Judge Swain grants the mediation team's request for an extension until Sept. 16 and possibly longer.

Judge Swain may approve the amended version in the next few weeks.