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Signed on June 30, 2016, the Puerto Rico Oversight, Management, and Economic Stability Act sent Puerto Rico’s bondholders and residents on a difficult odyssey that is far from over.
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The Puerto Rico Treasury now expects 33.6% more revenue in the fiscal year than the original projection.
June 28 -
Without a successful appeal, Employees Retirement System bondholders won't get their bond payments during the bankruptcy.
June 28 -
As Sunday's fiscal deadline approaches the legislature is hammering out a budget that's $500 million bigger than the Oversight Board's plan.
June 26 -
If an issuer represents the validity of its bonds to investors at the time of issuance, it is barred from later denying repayment on a claim of invalidity.
June 26Assured Guaranty Ltd. -
German Ramirez and Richard Prann of HJ Sims talk from Puerto Rico about the situation on the island and discuss COFINA and the IRS, what's new with the GDB bonds and with the commonwealth's GOs. Chip Barnett hosts.
June 25 -
Puerto Rico CFO Rafael Maldonado Gautier said that some Treasury professionals have been selling influence, issuing false licenses, and trying to extort him.
June 24 -
They say a ruling in the Aurelius case reinforces their contention that the Puerto Rico Oversight Board is a federal body.
June 20 -
The U.S. Supreme Court agreed to hear a case that could upend the work of the oversight board tasked with pulling Puerto Rico out of its record bankruptcy.
June 20 -
The Oversight Board has reached an agreement with the Committee of Retirees that makes a flat 8.5% cut to pensions over $1,200 a month and does not change payments to the 61% of current retirees who receive monthly pensions of $1,200 or less.
June 19