JOURNAL ARTICLE

Puerto Rico Board Firings Entangle Prepa Bankruptcy Dispute.

  • Published In: Bloomberg.com, 2025. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Kaske, Michelle 3 of 3

Abstract

The article discusses the impact of recent changes to Puerto Rico's financial oversight board on the bankruptcy proceedings of the Puerto Rico Electric Power Authority (Prepa). Following the dismissal of five board members by the White House, a US District Court judge has postponed a filing deadline and requested a status update on the board's membership and its implications for Prepa's bankruptcy process. Prepa, which has been in bankruptcy since 2017, is attempting to restructure nearly $9 billion in debt, but must first address claims from creditors regarding the misallocation of approximately $3 billion in net revenue. The judge's suspension of deadlines further complicates the resolution of these financial disputes. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2025/08, pN.PAG
  • Document Type:Article
  • Subject Area:Politics and Government
  • Publication Date:2025
  • Accession Number:187263214
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