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prima:Buyer of BDE’s loan portfolio withdraws from negotiations and asks to see the case in its merits

PR Recovery informed its determination in a motion to the court, after failing to reach an understanding in the dispute over the sale and purchase of some $384 million in loans to thousands of SMEs in Puerto Rico

June 22, 2024 - 12:05 PM

The parties had been negotiating out of court since November 2023. (Gerald Lopez-Cepero)

After almost seven months of out-of-court negotiations, the buyer of the loan portfolio of the Economic Development Bank (BDE) notified the San Juan Court of First Instance on Friday that it is withdrawing from the talks with the institution, and that it wants the case to be heard on its merits.

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