Puerto Rico Board Firings Entangle Prepa Bankruptcy Dispute (1)

The upheaval of Puerto Rico’s financial oversight board is slowing down the bankruptcy of its power utility as the judge overseeing the case suspended a near-term filing deadline and asked for a status update on the board’s membership.

The White House last week fired five of the seven members of the federal watchdog that monitors the commonwealth’s finances and manages the ongoing bankruptcy of Puerto Rico’s Electric Power Authority, called Prepa. The board must submit a report detailing how those firings may affect Prepa’s bankruptcy process by Aug. 25.

US District Court Judge Laura Taylor Swain wants a report ...