Puerto Rico Board Opposes U.S. House Input in Utility Dispute

Nov. 14, 2019, 6:59 PM

The federal board appointed to oversee Puerto Rico’s economic restructuring is trying to block three members of Congress from filing an opposition brief to a proposed settlement of the island’s electrical utility’s $8.5 billion debt.

The representatives shouldn’t be allowed to file an opposition to the settlement—which would reduce Prepa’s debt by billions—because they want to press public policy issues that are “outside the scope of inquiry,” according to the Nov. 13 brief filed by the Financial Oversight and Management Board and Puerto Rico’s Fiscal Agency and Financial Advisory Authority.

Rep. Raúl Grijalva (D-Ariz.), chairman of the House Committee on ...

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