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A federal judge on Tuesday tentatively approved a portion of the newest plan to restructure $10 billion of debt owed by Puerto Rico’s power company amid heated negotiations between creditors and the U.S. territory’s government. The overall debt restructuring plan has been amended four times this year by a federal control board that oversees Puerto Rico’s finances. A confirmation hearing is set for March 2024 as various bondholders continue to oppose the plan.

A new report found that American households increased their total debt by $78 billion in the third quarter of 2023. The study, released Tuesday by WalletHub, found the average amount of total debt owed by U.S. households at $145,319 at the end of the third quarter. It is $13,631 below the all-time high, set back…

A new plan for restructuring $10 billion in debt owed by Puerto Rico’s power company was filed late Friday in the latest attempt to end a lengthy bankruptcy process marked by acrimonious negotiations. The plan filed by a federal control board that oversees the U.S. territory’s finances would cut the debt of Puerto Rico’s Electric Power Authority by nearly 80% to some $2.5 billion. “We hope that we will be closing not just the chapter but most of the book on the largest public sector bankruptcy in the United States,” Robert Mujica, the board’s executi...

Looking beyond the popular narrative of Chinese debt-trap diplomacy, it becomes clear that it does not hold up to scrutiny.

INFORMATION STATEMENT SMG Industries Inc. June 16, 2023 INFORMATION STATEMENT SMG Industries Inc. ... | June 15, 2023