Tax council says talks are close to reorganizing Puerto Rico’s public services


By Rick Archer (March 23, 2022, 2:58 p.m. EDT) — Puerto Rico’s fiscal watchdog told a federal judge on Wednesday that the island’s electric utility creditors were “eager” to discuss a new reorganization plan and that it could be less than a month away from tabling a restructuring proposal for the island’s road authority.

In a telephone hearing, representatives of Puerto Rico’s Financial Supervisory and Management Board submitted a report that creditors of the Puerto Rico Electric Power Authority are “supportive” of initiating mediation on a restructuring plan agency and told U.S. District Judge Laura Taylor Swain the board hopes to file a plan to…

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