Swain warns the Board and sets deadline for PREPA’s restructuring processThe judge overseeing the island´s bankruptcy process requested an adjustment plan for next month, while the entity raises doubts about the repayment capacity and the validity of the utility’s bonds
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The Oversight Board was put on the spot Wednesday when Judge Laura Taylor Swain insisted that she expects a Plan of Adjustment (POA) for the Puerto Rico Electric Power Authority (PREPA) in less than a month and it was revealed that the entity has not resumed negotiations with the main creditors of the public utility, despite a court order to that effect.
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