The Bank of Nova Scotia, parent company of Scotiabank de Puerto Rico, has sued the government’s Metropolitan Bus Authority for defaulting on some $32 million in a revolving credit and term loan agreement. Furthermore, the bank has asked the San Juan Superior Court to issue an order for a “provisional embargo and prohibition of alienation […]
“The commitment of companies in the telecommunications industry is evident, but it is necessary to emphasize the importance of creating the right conditions for doing business on the island.
Energy and permitting issues remain major challenges. We’re confident that with close collaboration between the public and private sectors, the ideal business climate can be created to protect what has been achieved and maximize opportunities for Puerto Rico.”
— Pedro G. Andrés, president, Puerto Rican Telecommunications Alliance (APT)

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