Uncertainty whether Puerto Rico HTA bond restructuring is set
The Oversight Board says an adversary complaint affecting HTA claims remains active, contradicting a statement made to the court last month.
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The Oversight Board says an adversary complaint affecting HTA claims remains active, contradicting a statement made to the court last month.
The underwriters filed a defense to the court earlier this month and analysts are skeptical of MBIA’s chances of prevailing.
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At issue is about $400 million the board would like Puerto Rico's government to retain.
While the Puerto Rico Senate would not take up a House-approved budget amendment that would allocate money to repay bondholders, analysts expect the Oversight Board to approve the funding.