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prima:Cobra Acquisitions warns that a court ruling ordering payment of patents and taxes would increase electricity bills

The company, sued by 13 municipalities for work on the power grid after Hurricane María, maintains that it is covered by the same tax exemption as PREPA

September 17, 2024 - 10:36 AM

Mayors of 13 municipalities allege that Cobra Acquisitions owes them more than $75 million in patents and construction taxes. (Suministrada)

Cobra Acquisitions, sued by 13 municipalities claiming payment of construction taxes and patents for work done on Puerto Rico’s power grid after Hurricane Maria, stated that the lawsuit against it “does not proceed” because it would allegedly amount to a “secret or disguised additional contribution” in the electricity bill for consumers.

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