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Crucial moment for PREPA

With limited support, the Oversight Board seeks that Judge Laura Taylor Swain opens the way to restructure more than $10 billion in claims. Meanwhile, bondholders, municipal insurers, workers, retirees, and others oppose the proposed cuts.

February 28, 2023 - 9:19 AM

Archival note

This content was published more than 1 year ago.

To confirm the PREPA-POA, Swain would hold another hearing - scheduled for next July - to determine whether the PREPA-POA is, in fact, reasonable and should be implemented. (david.villafane@gfrmedia.com)

By Joanisabel González

Editora de Negociosjoanisabel.gonzalez@gfrmedia.com

U.S. District Judge Laura Taylor Swain ordered yesterday the parties involved in the Puerto Rico Electric Power Authority´s (PREPA) debt restructuring process to be ready to discuss whether the proposed Plan of Adjustment (PREPA-POA) is “patently unconfirmable”, as the US Bank National Association alleged in its capacity as PREPA Bond Trustee.