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prima:PR Recovery ordered to turn over information to Development Bank on loans under litigation

Judge Brian Burgos Hernández indicated that the case, which has affected hundreds of local businessmen, is of public interest and rejected the investment firm’s claim of confidentiality.

May 1, 2025 - 3:42 PM

The defendants are: investment firm PR Recovery (PR Recovery and Development REO LLC and PR Recovery and Development JV LLC), Garnet Capital Advisors LLC, and Parliament Capital Management LLC. (Gerald Lopez-Cepero)

The Court of First Instance has ordered PR Recovery, the buyer of the loan portfolio of the Economic Development Bank (BDE), to allow the bank to examine the entirety of the loans that have been the subject of litigation for six years.

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