Judge’s Support of Deal Would Restructure 25 Percent of Gov’t Debt
Objections raised about the plan to restructure the $17 billion debt of the Puerto Rico Sales Tax Financing Corp. (Cofina by its Spanish acronym), not only from bondholders but also from the public, could force U.S. District Court Judge Laura Taylor Swain to thoroughly scrutinize it.
As a matter of fact, Swain made good on her word to hear the general public, which will have until today, Jan. 11, to file request in court to be able to speak at the Jan. 16 hearing in which she will be evaluating Cofina’s plan. “The court will randomly select persons to participate at the hearing if more than 24 persons request permission to participate,” she said.
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