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prima:The Financial Oversight and Management Board orders PREPA to put the services provided by its two main consultants out to competitive bidding

Ankura and O’Melveny & Myers have remained under contract, without any additional auctions, since the last decade

August 7, 2026 - 3:06 PM

In July 2027, the PREPA bankruptcy proceedings under Title III of the PROMESA Act will mark their 10th anniversary. (Carlos Rivera Giusti)

The Financial Oversight and Management Board (FOMB) authorized the Puerto Rico Electric Power Authority (PREPA) to extend the contracts of Ankura Consulting Group and O’Melveny & Myers, its two main consultants over the past decade, but ordered it to put the services provided by these firms out to competitive bid by 2027.

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