The Institute for Energy Economics and Financial Analysis (IEEFA) and Puerto Rican nonprofit CAMBIO obtained a court agreement pledging the Puerto Rico Electric Power Authority (PREPA) to respond to and deliver within 14 days public documents regarding the PREPA privatization process, as well as data about the electrical system. The agreement between the parties was […]
The Puerto Rico Institute of Statistics filed a motion at the San Juan Superior Court reiterating its request for declaratory judgment and injunction requested following the legal controversy that arose last summer, related to the composition of its Board, which has not yet been resolved.
Luxury retailer Saks Fifth Avenue agreed to provide the San Juan Superior Court a “non-binding reopening target date” of its store at The Mall of San Juan by Dec. 29, this media outlet learned.
In what could represent the first positive for Puerto Rico in its litigation with creditors and insurance companies over debt repayment, two monoline insurers — National Public Finance Guarantee Corp. and Assured Guaranty withdrew their complaints against the Commonwealth’s Fiscal Plan.
The Financial Oversight and Management Board for Puerto Rico filed in the U.S. District Court for the District of Puerto Rico an “Adversary Complaint for Declaratory and Injunctive Relief” seeking to enforce the certified Commonwealth’s Fiscal Plan.
The United States government will notify the Financial Oversight and Management Board by Oct. 6 if it will defend the constitutionality of PROMESA.
Industria Lechera de Puerto Rico, known as INDULAC for its initials in Spanish, filed a complaint at the San Juan Superior Court Wednesday, seeking to halt a price increase for Ultra High-Temperature milk ordered by the Agriculture Department, the dairy farmers confirmed.
The Financial Oversight and Management Board for Puerto Rico announced Monday it approved, certified and filed in the U.S. District Court for the District of Puerto Rico voluntary petitions under Title III of the Puerto Rico Oversight, Management and Economic Stability Act for the Puerto Rico Highway and Transportation Authority and the Government of Puerto Rico Employees Retirement System.
The number of bankruptcy cases filed in Puerto Rico showed a steep decline last month. #NewsismyBusiness
The future of a controversial resort development that got off the ground last year on a prized parcel along the Aguadilla coastline is up in the air as opponents of the project and its developers square off in court.
The island's bankruptcy filings dropped in February, when 14.5 percent fewer cases were submitted to the court, versus the same month in 2016, according to preliminary numbers released Thursday by research company Boletín de Puerto Rico.
The COFINA Seniors Coalition on Wednesday filed a motion to join litigation already pending in the U.S. District Court in Puerto Rico — Lex Claims, LLC et al. v. Garcia-Padilla et al. — to expose what they called “meritless, self-serving claims brought by a litigious faction” of General Obligation ("GO") bondholders.
The number of bankruptcy cases filed in Puerto Rico was up 8.14 percent year-over-year in August, when 929 cases were filed.
Puerto Rico’s bankruptcy levels showed a 4.4 percent drop last month, when the total number of companies and individuals who turned to the U.S. Bankruptcy Court for help totaled 818 cases, preliminary data released Monday by research firm Boletín de Puerto Rico showed.
National Public Finance Guarantee Corporation, an indirect subsidiary of MBIA Inc., filed a complaint Wednesday challenging the Puerto Rico Emergency Moratorium and Financial Rehabilitation Act, asking the court to invalidate it.
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