Judge Warns Puerto Rico Board as Debt-Plan Deadline Looms

A judge overseeing the five-year bankruptcy case for Puerto Rico’s main power utility is pressuring island officials to come up with a debt-cutting plan by Dec. 1, saying she aims to complete the workout by June.

US District Court Judge Laura Taylor Swain on Wednesday warned Puerto Rico’s financial oversight board, which is managing the bankruptcy, that if it fails to submit a confirmable debt proposal by Dec. 1, her response could be far-reaching. The warning is a signal that she may be prepared to dismiss the case altogether.

“Every possible way of reacting to that will be on the ...