Insurer MBIA Sues Banks Over ‘Financial Tragedy’ of Defaulted Puerto Rico Bonds August 12, 2019 Bond insurance company MBIA Inc. sued several financial institutions on Thursday over their role in underwriting billions of dollars of...
Puerto Rico Oversight Board Sues Banks, Bondholders in Bid to Recoup $1 Billion May 3, 2019 By Luis Valentin Ortiz Puerto Rico’s federally created financial oversight board said on Thursday it sued some owners of potentially invalid bonds of the...
Bond Insurers Want Independent Receiver for Puerto Rico’s Bankrupt Electric Utility October 5, 2018 By Luis Valentin Ortiz and Karen Pierog Bond insurance companies that were not part of a preliminary deal to restructure debt issued by the Puerto Rico Electric...
Holdout Bondholders Agree to Support Puerto Rico Restructuring Deal September 24, 2018 Two major holders of Puerto Rico bonds that opposed a restructuring deal for the bankrupt U.S. commonwealth’s Sales Tax Financing...
Puerto Rico Bondholders Suffer Setback as Lawsuit Dismissed January 31, 2018 By Nick Brown A U.S. federal judge on Tuesday dismissed a lawsuit by some of Puerto Rico’s bondholders, who had argued that the...
White House $29B Disaster Aid Includes Flood Insurance Changes October 9, 2017 By Andrew Taylor The Trump administration last week asked Congress for $29 billion in disaster aid to cover ongoing hurricane relief and recovery...
After Hurricane, Bond Insurer Drops Lawsuit Against Puerto Rico October 8, 2017 Puerto Rico bond insurer Assured Guaranty Ltd. said late on Friday it voluntarily withdrew a complaint that challenged the legality...
Even with Rescue, Puerto Rico Default Likely; Insurers Still at Risk for Millions June 30, 2016 Investors in Puerto Rico’s debt-burdened economy still face risks of default on some of the island’s $70 billion in debt...
Bankruptcy Would Be ‘Huge Mistake’ for Puerto Rico, Says Bond Insurer February 12, 2016 By Michelle Kaske and Alexander Lopez The question of whether bankruptcy is a good option for Puerto Rico came to a head at an investor conference...
Bond Insurers’ Lawsuits Against Puerto Rico to Be Combined January 22, 2016 By Tracy Rucinski A second lawsuit over Puerto Rico’s debt default will be joined with a similar suit in order to save time...