In suspending the potential appointment of a trustee, the judge orders the Fiscal Board to file a restructuring plan by December 1 and a confirmation plan hearing by June 2023
In suspending the potential appointment of a trustee, the judge orders the Fiscal Board to file a restructuring plan by December 1 and a confirmation plan hearing by June 2023
A week after Fiona hit the island causing damage estimated at over $3 billion, and taking the lives of 23 people according to official data, U.S. District Judge Laura Taylor Swain pulled the rug out from under the feet of the Puerto Rico Electric Power Authority bondholders group (Ad Hoc-PREPA) and the municipal insurers supporting that public utility debt, by ruling out the dismissal of the bankruptcy process under PROMESA Title III.
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