Imagine that the Puerto Rico Commission for the Comprehensive Audit of the Public Credit is operating and that it calls for public hearings.
The government of Puerto Rico released an administrative order Tuesday suspending some $1.8 billion in special assignments and tax credits, in an attempt to bridge budgetary gaps.
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.