March 3, 2018 / 1:41 AM / 4 months ago

Puerto Rico's board blocking investors from lease deliberations

Puerto Rico’s federal oversight board on Friday called for a court order giving it more time to sort out which property leases the island should reject to help restructure its finances, adding that investors with bonds backed by rents should be kept out of the matter.

The board in court papers said it needs a 120-day extension for assuming or rejecting leases the U.S. territory’s agencies have through the Puerto Rico Public Building Authority, or PBA.

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