United States

Luis Valentin Ortiz

Puerto Rico gets another governor after supreme court clears the way

Aug 07 2019

SAN JUAN Puerto Rico got its third governor in less than a week on Wednesday just hours after the bankrupt U.S. territory's supreme court ruled that Pedro Pierluisi's assumption of the office was unconstitutional and ordered him to leave. | Video

Top Puerto Rico officials resign in group chat scandal that ensnares governor

Jul 14 2019

(This story has been corrected to fix a typo in final paragraph.)

Former Puerto Rico government officials arrested in corruption probe

Jul 10 2019

SAN JUAN, Puerto Rico Two former high-ranking Puerto Rico government officials were among six people arrested and charged with conspiracy and other crimes in connection with millions of dollars in federal education and Medicaid funds, U.S. law enforcement officials said on Wednesday.

Puerto Rico oversight board sues governor over pension law

Jul 03 2019

SAN JUAN Puerto Rico's federally created financial oversight board sued the bankrupt U.S. commonwealth's governor and fiscal agency on Wednesday over a new law that transfers municipal pension and health insurance costs to the government.

Bankrupt Puerto Rico hit with new spending curbs by oversight board

Jul 01 2019

SAN JUAN Puerto Rico’s federally created fiscal oversight board on Monday imposed a fiscal 2020 budget on the bankrupt U.S. commonwealth that for the first time limits spending choices by its government, according to the board's executive director.

New round of claims against vendors, bondholders on tap in Puerto Rico bankruptcy

May 16 2019

SAN JUAN Puerto Rico’s federally appointed oversight board will file another round of lawsuits against government vendors and bondholders, Luc Despins, a lawyer representing unsecured creditors in the U.S. commonwealth's bankruptcy, said on Thursday.

Puerto Rico oversight board to take local governments under its wing

May 09 2019

SAN JUAN Puerto Rico's financial oversight board on Thursday unexpectedly added the island's towns and cities to its mandate, a move that it said was aimed at trying to help them avoid insolvency.

Puerto Rico oversight board extends reach to island's municipalities

May 09 2019

SAN JUAN, May 9 Puerto Rico's federally created financial oversight board on Thursday took unexpected action, adding town and cities to its mandate, which up until now was focused on the island's central government and related entities.

Puerto Rico announces deal to restructure power authority debt

May 03 2019

SAN JUAN Puerto Rico’s power utility struck a deal with a group of creditors that seeks to allow the bankrupt U.S. commonwealth to restructure more than $8 billion of bonds, according to an announcement by government authorities on Friday.

Puerto Rico board hits Wall Street banks, bondholders with lawsuits

May 02 2019

SAN JUAN Puerto Rico's federally created financial oversight board said on Thursday it sued some owners of potentially invalid bonds of the bankrupt U.S. commonwealth, as well as Wall Street banks and firms that participated in various debt issuances in an effort to recoup more than $1 billion.

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