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Aurelius资本档案诉讼寻求驳回波多黎各破产案件

Published on:2017年8月7日 | 经过Shepherd Smith Edwards＆Kantas，LLP

In the United States District Court in San Juan, the hedge fund Aurelius Capital has filed a lawsuit seeking to have Puerto Rico’s bankruptcy case dismissed. Aurelius Capital is the holder of more than $470 million of Puerto Rico General Obligation bonds (“GO Bonds”). All Puerto Rico GO bonds were supposed to have been guaranteed under the Commonwealth’s constitution. Now, however, GO bonds are subject to a five-year plan that could force bondholders to take substantial reductions on what they are owed upon repayment.

波多黎各在5月申请了第三章破产保护。尽管在波多黎各的监督，管理和经济稳定法（Promesa）下，波多黎各最初没有破产保护，但法律已更改以允许波多黎各如果无法解决所有破产的程序它与债券持有人的债务。

与其他破产一样，该岛已获得债权人的“住宿”。现在，奥雷利乌斯（Aurelius）希望联邦法院解除该逗留，这阻止了该庭和其他债权人起诉波多黎各政府。

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波多黎各的债务被惠誉评级降至“ B”

Published on:March 28, 2015 | 经过Shepherd Smith Edwards＆Kantas，LLP

Credit rating agency Fitch Ratings (“Fitch”) has downgraded the general obligation and related debt of Puerto Rico to “B”, rating it even further into junk territory and three notches under investment grade, because of worries about the U.S. territory’s ability to go through with planned financing. As a result of the downgrade of the general obligation debt, the Puerto Rico Aqueduct and Sewer Authority senior lien revenue bonds were also downgraded.

降低评级与英联邦的新法律有关。该法律本应通过允许某些据报道有194亿美元未偿还债券的政府机构来重组债务，以帮助超越公共债务。惠誉（Fitch）担心，由于法律中的重组的方式，这可能会导致债务中止，同时“排除及时付款”本金和利息，直到诉讼最终确定为止。

Fitch also reduced the rating of Puerto Rico’s sales tax entity COFINA, pension funding bonds, and the Public Building Authority government facilities’ revenue bonds. The credit rating agency pointed to mixed economic signs, such as accelerated year-over-year declines in the labor force and yearly drops in the monthly economic activity index of the Government Development Bank, as the reason for the new downgrades. Recently, Standard & Poor’s also reduced the general obligation debt of Puerto Rico to junk bond status- a BB, which is right below investment grade.

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UBS To Nominate Executive from BlueMountain Hedge Fund That Challenged Puerto Rico Law on Debt Restructuring to Its Board

Published on:2014年12月17日 | 经过Shepherd Smith Edwards＆Kantas，LLP

UBS, AG (UBS) says that it intends to nominate BlueMountain Capital Management Executive Jes Staley to its board in May. Staley formerly served as a摩根大通公司（JPM）executive.

瑞银（UBS）主席阿克塞尔·韦伯（Axel Weber）在一份声明中说，斯塔利（Staley）非常适合该职位，因为他在全球银行业领导职务中工作了三十年。但是，这可能不是唯一的原因。

Earlier this year, BlueMountain, which is a New York-based hedge fund, joined a legal challenge against a law that would let some of the Commonwealth of Puerto Rico’s agencies restructure their massive debt. UBS Puerto Rico (UBS-PR) is one of the banks accused of inappropriately placing clients’ money into closed-end funds that had high exposure toPuerto Rico municipal bonds。

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波多黎各的Prepa的逾期账户的增长率为219％，欠下至少17.5亿美元

Published on:2014年11月18日 | 经过Shepherd Smith Edwards＆Kantas，LLP

Puerto Rico’s Electrical Power Authority, also known as PREPA, is experiencing a surge in overdue accounts. According to a report from an FTI Consulting subsidiary, since 2012, the U.S. territory’s electrical authority has seen a 219% increase in the number of company and residential accounts that are at least 120 days late in making their payments. The report was generated as part of an agreement with the creditors, which retain more than $9 billion of the electrical utility company’s debt.

到2014年9月，不仅在企业和居民中欠PrePA的后期余额，而且政府实体也达到了17.5亿美元。至少延迟至少四个月的付款是至少7.086亿美元。

波多黎各的政府实体欠了约7.58亿美元，某些公共公司甚至无法支付其电费，并拒绝同意付款计划以获取目前的帐户。FTI报告建议，PrePA为拖欠拖延，保留收款机构，增加滞纳金和重新连接的费用的客户大赦期，并推动及时付款。

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