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prima:“A tragedy for Puerto Rico”: this is how mediators described the impasse between the Fiscal Board and PREPA bondholders

In a report to Judge Laura Taylor Swain, the team in charge of promoting an understanding revealed that there is no possibility of ending the bankruptcy with an agreement between the parties

December 11, 2024 - 8:34 PM

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This content was published more than 1 month ago.
The Mediation Team in charge of reaching an agreement between PREPA's creditors informed the court that the parties do not even agree on how to address the legal disputes that separate them. (Carlos Rivera Giusti)

The cash flow crisis faced by the Puerto Rico Electric Power Authority (PREPA) and therefore, the operator LUMA Energy, as well as the reluctance of the Fiscal Oversight Board (FOMB) and the objecting bondholders to step forward in negotiations, have taken out of the picture the possibility of a consensual agreement to end the bankruptcy of the state-owned company, judging by the most recent report of the Mediation Team.

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