Scotiabank Puerto Rico on Wednesday filed a complaint against the government of Puerto Rico to prevent the diversion and expropriation of certain tax revenue pledged as collateral to secure a loan the bank extended to the Metropolitan Bus Authority.
A group of nine leading Puerto Rico industry and business associations on Tuesday filed a legal challenge against a Puerto Rico Energy Commission move to impose the first in a series of what they called “unlimited, blank check" rate increases under the Puerto Rico Electric Power Authority debt-restructuring agreement.
Seven Puerto Rico trade groups will announce today the filing of a lawsuit to block what they call the “disastrous” rate hike proposed under the Puerto Rico Electric Power Authority restructuring deal.
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