Puerto Rico Utility's Debt-Cutting Plan Loses Insurer Support [Yahoo! Finance]
BlackRock, Inc. (BLK)
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Source: Yahoo! Finance
Most Read from Bloomberg Biden Struggles to Contain Mounting Pressure to Drop Out of Race House Democrats Consider Demanding Biden Withdraw From Race China Can End Russia's War in Ukraine With One Phone Call, Finland Says US Allies Say China Is Developing Attack Drones for Russia Zelenskiy Challenges Trump to Reveal Plans for Ending War Puerto Rico's financial oversight board, which is managing the utility's bankruptcy, is seeking to amend a debt-cutting plan in part by reallocating some of National's recoveries to bondholders, a move the bond insurer rejects, according to a joint status report filed Wednesday to the court. The board needs to alter its restructuring proposal after the United States Court of Appeals for the First Circuit last month decided that the utility's bondholders have a lien not just on reserve accounts but on future revenues as well, overturning a lower court's ruling limiting their lien. The appeals court also determined investors' allowed claim
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BLK
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- 7/15/24 - Beat
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- 10/2/24 - Form 4
- 10/2/24 - Form 4
- 10/2/24 - Form 4
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