Fee examiner Brady Williamson has submitted for U.S. District Court approval in Puerto Rico’s bankruptcy-like process up to $52.3 million in legal and service fees for 13 entities from October to January, along with a warning about increasing litigation costs, Caribbean Business reported.
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An electric utility contractor that turned Puerto Rico’s lights back on after Hurricane Maria now is ensnared in contract-steering probes as federal authorities scrutinize billions of dollars in public reconstruction spending across the U.S. territory, WSJ Pro Bankruptcy reported.
The House yesterday passed a $19.1 billion disaster relief package, finally sending legislation to the White House that had been repeatedly blocked by conservatives over the Memorial Day recess, The Hill reported. The legislation was approved in a 354-58 vote.
Puerto Rico’s financial supervisors plan to refer several municipalities and public corporations to federal law enforcement, accusing them of diverting money earmarked for employees’ retirement as pensioners near a deal on a broader package of benefit cuts, WSJ Pro Bankruptcy reported. The U.S.
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This wiki is a repository for members of the U.S. Congress, other policy makers, academics, investors, the media and the general public to understand the challenges facing Puerto Rico in 2016 and to provide data and information to begin crafting long term sustainable solutions. Click here to view.