All posts tagged "Financial Control Board"

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  Puerto Rico fiscal board postpones fiscal plans’ delivery deadline to Jan. 24

  Commonwealth government assured earlier it was ready to deliver its fiscal plan by the Jan. 10 deadline

  • Posted January 10, 2018
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  Millions in fees add up in first 5 months of Puerto Rico’s bankruptcy

  With rates mostly ranging from $300 to $1,300 per hour, the cost for the commonwealth coffers in lawyers and consultants working the Title III cases surpasses $77 million, as of Sept. 30

  • Posted December 18, 2017
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  Puerto Rico gov’t identifies over $6B in hundreds of bank accounts

  Financial control board announces it will conduct an investigation over the source, use and restrictions of the funds

  • Posted December 18, 2017
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  Puerto Rico’s fiscal board rolls out contract-review process

  Commonwealth will have to submit, prior to execution, long list of documents related to any contract over $10 million, including with federal government

  • Posted November 6, 2017
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  US government to defend Promesa’s constitutionality

  DOJ has until Dec. 6 to file memorandum in support of the validity of the federal law

  • Posted November 6, 2017
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  Puerto Rico gov’t: Cash need of $3.6B before year’s end

  White House says willing to provide financial assistance in exchange for greater oversight over use of federal funds

  • Posted November 6, 2017
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  Puerto Rico gov’t wants to make sure disaster relief funds out of creditors’ reach

  Commonwealth gov't, fiscal board ask court to issue order clarifying disaster funds aren't subject to claims as part of island's bankruptcy process

  • Posted October 16, 2017
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  Puerto Rico gov’t rejects deal from power utility’s bondholders

  Government has received similar approaches from other creditor groups

  • Posted September 28, 2017
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  Puerto Rico governor: No consideration now for fiscal aspect

  Gov. Rosselló says $1 billion in budget reallocations not enough, will solicit federal gov't for more help

  • Posted September 23, 2017
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  Court rules against Puerto Rico’s power utility creditors, impedes receivership

  Prepa creditors intended to put public corporation under receivership, increase rates to cover debt obligations

  • Posted September 14, 2017