The judge in the Puerto Rico Title III bankruptcy cases is scheduled to weigh motions by Puerto Rico Electric Power Authority and Puerto Rico Sales Tax Finance Corp. (COFINA) bondholders at a hearing Wednesday.
Judge Laura Taylor Swain is scheduled to consider PREPA bondholders’ and bond insurers’ motion to lift the stay on litigation concerning the more than $8 billion of bonds. This would open the door to their petitioning for a receiver to be appointed. Normally, the creditors would nominate a receiver subject to approval by a judge.
Robert SlavinPuerto Rico judge to consider PREPA, COFINA motions
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