Supreme Court Declines to Hear Bonds Dispute in Puerto Rico Bankruptcy January 14, 2020 By Karen Pierog The U.S. Supreme Court on Monday declined to take up a dispute that has roiled the $3.8 trillion U.S. municipal...
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...
Fitch Warns Bond Insurers After Court’s Puerto Rico Bankruptcy Ruling April 12, 2019 By Karen Pierog A U.S. Appeals Court ruling last month in Puerto Rico’s bankruptcy led Fitch Ratings on Thursday to place seven city,...
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...
Bond Insurer Urges Receiver for Puerto Rico’s Bankrupt Utility July 20, 2018 By Michelle Kaske MBIA Inc.’s National Public Finance Guarantee is urging Puerto Rico’s federal board to consider putting a receiver in charge of...
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...
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...
Insurers with Big Stake Buy Puerto Rico Bonds March 13, 2016 By Michelle Kaske The companies with the most at stake in Puerto Rico’s debt crisis have become buyers of the island’s bonds. MBIA...