PUERTO RICO ELECTRIC POWER AUTHORITY

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Case overview

Case Number:

3:17-bk-04780

Court:

Puerto Rico

Nature of Suit:

Firms

Companies

Sectors & Industries:

June 05, 2018
1st Circ. Mulls Creditors' Role In Puerto Rico Recovery

The First Circuit on Tuesday questioned whether a group of bondholders can step in and influence the actions of Puerto Rico's struggling public entities, during a morning of arguments before the appellate panel centering on the island commonwealth's historic restructuring.
February 16, 2018
Muni Market Shaken By Puerto Rico Special Revenues Ruling

Municipal bonds secured by pledged special revenue streams have long been prized as safe bets, but a recent ruling in Puerto Rico's restructuring cases that payment on those obligations is not required in bankruptcy has riled investors and left legal experts confounded over a largely untested Bankruptcy Code provision.
November 03, 2017
Puerto Rico Gov't Fights Appointment Of Utility Manager

The government of Puerto Rico is pushing back against the installation of an emergency manager to run the island's beleaguered electric utility, saying Friday that the federal board overseeing the territory's finances is attempting to overstep the powers it was granted by Congress.
November 01, 2017
Puerto Rico Blasts Request For Restructuring Litigation Stay

Puerto Rico has asked the federal judge overseeing its bankruptcy-like restructuring to deny one creditor's request to pause the massive case for 90 days in the wake of Hurricane Maria, saying a speedy resolution is essential to the island's recovery.
October 24, 2017
Puerto Rico Asks To Speed FEMA Relief Despite Bankruptcy

Puerto Rico on Monday asked the federal judge overseeing its bankruptcy-like restructuring to streamline the disbursement of federal disaster relief funds to help the island rebuild in the wake of Hurricane Maria’s devastation, and one creditor has even proposed pausing the massive case for 90 days to give the parties some breathing room.
October 10, 2017
Fee Examiner Appointed In Puerto Rico Utility Restructuring

The federal judge overseeing Puerto Rico's bankruptcy-like restructuring process has appointed a fee examiner to review many of the expense and fee requests submitted by attorneys working on the landmark $123 billion case.
September 29, 2017
Puerto Rico Rejects $1B Loan From Power Utility Bondholders

Puerto Rico's beleaguered electric power company has rejected its bondholders' offer of a $1 billion debtor-in-possession loan, calling it a cynical and "unsolicited" ploy to boost debt prices and leapfrog other creditors even as the island struggles to rebuild in the wake of Hurricane Maria's devastation.
September 27, 2017
Puerto Rico Power Co. Bondholders Offer $1B DIP Loan

A group of bondholders with interests in Puerto Rico's insolvent and beleaguered electric power company are offering to lend the utility $1 billion in new cash to help address damage wrought by Hurricane Maria, potentially positioning themselves for an earlier payout in the public corporation's restructuring.
September 14, 2017
Puerto Rico Utility Creditors Lose Bid To Appoint Receiver

The oversight powers of the federally appointed board guiding Puerto Rico's historic restructuring were reaffirmed in a court ruling Thursday, finding that a group of bondholders could not move to appoint a receiver for the island's insolvent electric company without the panel's consent.
September 13, 2017
Puerto Rico Fuel Line Lenders Prep For Utility Revenue Fight

Units of Scotiabank and hedge fund Solus Alternative Asset Management have asked the court overseeing Puerto Rico’s restructuring to let them intervene in a suit between the island’s government-owned power company and its bondholders, saying they’re owed $696 million by the power company that must be paid back ahead of all other claims.