Search Results for: "debt restructuring"
Privatized Power Grid Unlikely to Save Puerto Rico Customers From Disastrous Debt Restructuring Plan (OPINION)
It is time for the oversight board and the governor to give up the fantasy that the debt can be paid without harming Puerto Rico’s economy, pensioners, and electrical system recovery. Overly optimistic assumptions contributed to PREPA’s bankruptcy. More of the same will not solve its problems.
Puerto Rico Debt Restructuring Delayed, Again
Debt restructuring efforts for the Puerto Rico Electric Power Authority’s $9 billion debt have come to a new standstill after almost six years of negotiation. Multiple failed attempts to exit bankruptcy have led nowhere.
Judge Approves Massive Puerto Rico Debt Restructuring Deal
BY THE ASSOCIATED PRESS — The agreement involves more than $17 billion worth of government bonds backed by a sales-and-use tax.
What One Puerto Rican Activist Told Judge About Debt Restructuring Case
These debt negotiations should not put profits over people.
Judge Hears Major Puerto Rico Debt Restructuring Case
The hearing involves more than $17 billion worth of debt backed by sales-tax bonds that the government issued, representing nearly a third of the island’s overall bonded debt.
How a Planned Debt Restructuring Agreement Benefits the Bankers and Could Block Puerto Rico From Holding Them Legally Accountable
An agreement nearing approval as part of Puerto Rico’s debt restructuring process could block many forms of legal accountability for a key set of government officials and bankers that oversaw the creation of the debt—and stick credit unions and municipalities with the tab.
Taiwan Jilted by Central America
The president of Taiwan traveled today to Guatemala to shore up its last allies in the isthmus after Honduras decided to shift its support to China earlier this month. While the U.S. warns of Beijing’s growing influence in Central America, the region is not buying the Cold War framing.
Report: How Wall Street Relies on ‘Power Players’ for Vulture Fund Feeding Frenzy
A new report from progressive organizations reveals the web of lawyers, lobbyists, trade groups, and cultural institutions that vulture funds use to prey on debt-addled countries like Puerto Rico.
New ‘Hybrid Charge’ Could Raise Puerto Rico Electricity Bills for 35 Years
Puerto Rico could experience a spike in its electricity bills for the next 35 years if a debt restructuring proposal is accepted by a federal bankruptcy judge in New York.
In Search of Puerto Rico’s Solar Energy Future
As Puerto Rico moves toward its stated goal of 100 percent renewable energy by 2050, there are still gigantic leaps that need to be taken if it plans to reach that target date, though it is becoming increasingly unlikely that such monumental steps will be taken.
Genera PR to Privatize Energy Generation in Puerto Rico
On Wednesday Gov. Pedro Pierluisi announced that Genera PR will officially take over the remains of the Puerto Rico Electric Power Authority and finish privatizing electrical generation on the archipelago.
Brownlisted: Thank God It’s ‘Wednesday’
Senior editor Hector Luis Alamo gives a review of some of the most interesting and important things he saw, read, and heard over the past week.
Bondholders Hoping to Recover Bad Debt from Struggling Puerto Rico Ratepayers (OPINION)
Almost $9 billion in bad debt and a half-century of high electricity prices hang in the balance in Puerto Rico.
LUMA Contract Extended as Protests Continue in Old San Juan
On the same day it was set to expire, the Puerto Rico Public-Private Alliances granted LUMA Energy an extension of its provisional contract that will only end once the Puerto Rico Electric Power Authority’s debt restructuring is completed.
Puerto Rico Public-Private Partnerships Authority Requests Indefinite LUMA Contract Extension
Three days before LUMA Energy’s contract is set to expire, the Public-Private Partnerships Authority requested authorization to extend LUMA’s provisional contract until the debt restructuring process for the publicly owned Puerto Rico Electric Power Authority is finalized.
Teachers Call for Protests on ‘National Anti-LUMA School Day’
Teachers and electrical workers in Puerto Rico are calling for protests outside schools on November 30, the day that LUMA Energy’s contract is set to expire, in hopes that the government cancels the company’s impending 15-year contract.
Women’s Networks Drive Puerto Rico’s Decolonization Work
Puerto Ricans are pushing for sustained interconnectivity between stakeholders doing the rebuilding in the islands and the diaspora and its allies advocating for long-term investment from the mainland — and these coordination efforts are largely driven by women’s networks.
PREPA Lawyers Forced to File Motions as Puerto Rico Hit by Hurricane Fiona
As Hurricane Fiona bore down on Puerto Rico two weeks ago, the U.S.-imposed fiscal control board and the U.S.-based judge who handles the public electric utility’s debt restructuring deal forced Puerto Rican lawyers to file motions even as the archipelago was experiencing an island-wide blackout.
US Waives Federal Law to Boost Diesel Supply for Puerto Rico
SAN JUAN, Puerto Rico (AP) — The U.S. government announced Wednesday it would temporarily waive a federal law and allow foreign diesel deliveries to Puerto Rico as it faces a dwindling supply of fuel nearly two weeks after Hurricane Fiona pummeled the U.S. territory.
Hurricane Fiona Batters Puerto Rico Still Recovering 5 Years After María
In the five years since Hurricane María tore through their country, the people of Puerto Rico have made efforts to rebuild in hopes that they would be ready for the next disaster. Hurricane Fiona, a Category 1 storm that swept through the island on Sunday, has shattered such hopes.
Puerto Ricans Protest Against ‘Vulture’ Funds in Manhattan
On Sunday, August 28, a coalition of Puerto Rican independence groups and their allies gathered outside a hedge fund’s office building in Midtown Manhattan to protest its predatory lending practices.