A U.S. judge on Wednesday denied a request by Puerto Rico's federally creat...
SAN JUAN - A U.S. judge on Wednesday denied a request by Puerto Rico’s federally created financial oversight board to extend a looming deadline to file claims, the latest hurdle for its plan to recoup billions of dollars paid to bondholders of potentially invalid debt issued by the island’s government.
The judge also rejected a request by a creditors committee to pursue claims for fraud and other infractions against advisers, underwriters and public officials involved in potentially illegal Puerto Rico debt sales. The Official Committee of Unsecured Creditors, which includes labor unions, as well as suppliers and contractors to the Puerto Rican government, argued that the board would not pursue these claims.
In her denial, Swain said that “the ability to propose a confirmable plan of adjustment” was at stake and that the oversight board had not consented to the committee’s motion. Several banks were ordered last week to comply with the board’s request for customer information that would be used in recovering bond payments.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Banks ordered to disclose bondholder information to Puerto Rico boardA judge on Thursday ordered banks to comply with a request from Puerto Rico&039...
Read more »
Exclusive: New York Fed cracks down on Puerto Rico banks following Venezuela sanctionsEXCLUSIVE: Venezuela sanctions have led the New York Fed to crack down on Puerto Rico's offshore banks, preventing them from opening accounts with the Fed. Several of those banks are owned by Venezuelan citizens
Read more »
Puerto Rico lost nearly 4% of its population after Hurricane Maria, data showNew Census Bureau data shows that Puerto Rico lost nearly 4% of its population after Hurricane Maria — the greatest population drop in the recorded history of the island, according to one demographer.
Read more »
After Pollution Crisis, Puerto Rico To Eliminate All Coal Power Next YearPuerto Rico has announced that it will end coal-based power generation next year, with Governor Ricardo Rosselló highlighting a rapid transition to renewable energy. This announcement comes shortly after the Puerto Rico Energy Public Policy Act (PS 1121) was approved by the territory's Senate.
Read more »
8 excellent Latino poetry books for National Poetry MonthThese books by Chicano, Cuban, Puerto Rican, Colombian and indigenous writers attest to the breadth and diversity of the Latino experience. - NBCLatino
Read more »
Banks ordered to disclose bondholder information to Puerto Rico boardA judge on Thursday ordered banks to comply with a request from Puerto Rico&039...
Read more »
Puerto Rico lost nearly 4% of its population after Hurricane Maria, data showNew Census Bureau data shows that Puerto Rico lost nearly 4% of its population after Hurricane Maria — the greatest population drop in the recorded history of the island, according to one demographer.
Read more »
House Oversight Committee postpones subpoena deadline for Trump financial records until court rulingThe panel, which is seeking Trump’s financial records, agreed to delay the deadline until a the court decides on the president’s lawsuit to prevent their release. A hearing has been set for May 14.
Read more »
After Pollution Crisis, Puerto Rico To Eliminate All Coal Power Next YearPuerto Rico has announced that it will end coal-based power generation next year, with Governor Ricardo Rosselló highlighting a rapid transition to renewable energy. This announcement comes shortly after the Puerto Rico Energy Public Policy Act (PS 1121) was approved by the territory's Senate.
Read more »
Exclusive: New York Fed cracks down on Puerto Rico banks following Venezuela sanctionsEXCLUSIVE: Venezuela sanctions have led the New York Fed to crack down on Puerto Rico's offshore banks, preventing them from opening accounts with the Fed. Several of those banks are owned by Venezuelan citizens
Read more »