September 24, 2018 / 9:54 PM / 24 days ago

Puerto Rico officials blast bid for probe of Government Development Bank

Puerto Rico’s Government Development Bank on Friday sought to block a push by the island’s unsecured creditors to open a probe into its practices, which their committee believes to be at the epicenter of the territory’s financial mess.

The bank argued in a filing that the committee for the unsecured creditors aims to “crater” its restructuring and is effectively trying to “wrest control” of efforts to reorganize the island’s broader finances from the territory’s government and federal oversight board.

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