Puerto Rico

Argument continues over how much PREPA will be able to pay bondholders.

Syncora and GoldenTree Asset Management want an accounting of what happened to PREPA net revenues.

The Oversight Board has given the local government until Tuesday to introduce a bill to revoke or amend a law that would reduce the Puerto Rico Electric Power Authority's revenues.

In the last few weeks projections from LUMA Energy indicate the authority can afford to pay more bond debt, opposing bond parties say.

The extension of the current solar net metering system could lower revenue for the utility.

In question is FAFAA's findings of fact and conclusions of law, which bondholders say was unauthorized.

Only one of 14 legacy generation facilities were operating normally at the end of January, suggesting less recovery for bondholders.

There is no timetable for rulings in bankruptcy case or appeal of lien rulings, which could lead to months of additional work on a new payment plan.

Bond parties want several creditor classes' votes in favor of the plan of adjustment to be disqualified.

The separate settlements some bond parties have reached with the Oversight Board "dramatically violate" the trust agreement, the trustee's attorney said.