Puerto Rico Bondholders Suffer Setback as Lawsuit Dismissed

01 February, 2018, 01:07 | Author: Conrad Doyle
  • Enlarge this image

San Juan Mayor Carmen Yulin Cruz said many people in the USA territory need the water and food they have been getting from FEMA more than four months after Hurricane Maria devastated the island.

Given that Puerto Rico is located thousands of miles away from the mainland, flying and shipping aid has proven hard.

GO bondholders have accused the oversight board and the Puerto Rican government of unlawfully steering revenues away from them.

BJP Says Will Contest Polls In Nagaland, Suspends Member Who Said No
The meeting was called in the wake of the decision by several political parties not to contest the forthcoming elections. The party said that its members were not authorised to sign the directive without approval from Central leadership.

WASHINGTON ― President Donald Trump on Tuesday urged solidarity with Americans recovering from natural disasters, including those in Puerto Rico ― the US territory his administration has ignored, insulted and ultimately abandoned in the aftermath of Hurricane Maria's devastation. Despite visiting the island and signing a $36.5 billion emergency aid measure to refill disaster accounts, provide a cash infusion and bail out the federal flood insurance program, Trump has received considerable flack from Democrats and Puerto Ricans for failing to fix the island faster.

In the lawsuit, which was filed in June, a group of these bondholders, led by Aurelius Capital Management, alleged the island's government had violated Puerto Rican law and the US constitution by paying for government services with revenues it diverted from other reserves.

The members signing the letter included Florida's two US senators, Democrat Bill Nelson and Republican Marco Rubio, and the state's lone USA representative with Puerto Rican roots, Orlando Democrat Darren Soto.

UNC slide continues with loss at Clemson
Clemson will face off against on the road at Wake Forest, and then come home and host Pittsburgh following this game. The Clemson Tigers are looking for back to back wins for the first time since wins at Boston College and Louisville.

The agency says it distributed more than 65 million liters of bottled water and more than 58 million meals and snacks, totaling almost $2 billion.

Mr. Booher insisted on Wednesday that FEMA was not backtracking on its food and water aid plans in response to public criticism.

"This has not happened yet and we were not informed that supplies would stop arriving, nor did the Government of Puerto Rico authorize this action".

Keurig Looking To Merge With Soda Makers
Goldman Sachs was the lead financial adviser to Keurig and Credit Suisse advised Dr Pepper Snapple on the deal. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.77 billion.

Because of that assistance, De La Campa said "things are going back to normal". The majority of this support has been allocated to people with cancer in Puerto Rico, many of whom are struggling to access treatment while lacking basic necessities like power and clean water. Although his State of the Union speech was full of lies, his lines on Puerto Rico must seem like a slap in the face to the many citizens still trying to recover from the devastation that hit their island. As Soto pointed out, "American lives are at stake!"

Recommended:

  • Bon-Ton identifies stores it plans to close

    Bon-Ton identifies stores it plans to close

    Bon-Ton President/CEO Bill Tracy said the closures are part of a "comprehensive turnaround plan" the company began in November. Associates at these locations will be offered the opportunity to interview for available positions at other store locations.
    Leaked government Brexit analysis shows United Kingdom  will be worse off

    Leaked government Brexit analysis shows United Kingdom will be worse off

    My longstanding views on the flaws in the epistemology of the social sciences and consequences for econometrics are long set out". She "noted media coverage of a report purporting to show the economic impact of Britain leaving the EU".
    WEEI suspends Alex Reimer for remarks about Tom Brady's daughter

    WEEI suspends Alex Reimer for remarks about Tom Brady's daughter

    Reimer's show aired Thursday, four days before Brady's weekly morning radio segment with different hosts. Time , that premiered on Facebook last week and referred to Vivian as an "annoying little puissant".
  • Google took down more than 700000 bad apps in 2017

    Google took down more than 700000 bad apps in 2017

    For those who are unaware, there are some " Copycats " apps around that aim to deceive users by impersonating famous apps. Google acknowledged that a few bad apps and malicious developers "still manage to evade and trick our layers of defense".
    Beckham's Miami franchise to be announced on Monday

    Beckham's Miami franchise to be announced on Monday

    Los Angeles FC will kick off as the league's 23rd franchise this season, with Nashville confirmed as the 24th club last month. The Miami Fusion played from 1998-2001, folding because of poor attendance. "There was only one city for me", Beckham said.
    Myanmar leader Suu Kyi calls On President Kovind

    Myanmar leader Suu Kyi calls On President Kovind

    President Rodrigo Duterte said he told Daw Aung San Suu Kyi to ignore human rights activists, describing them as a "noisy bunch". And in his resignation letter, Richardson accused members of being a "cheerleading squad" for the government.
  • Peacock denied as emotional support animal for flight

    Peacock denied as emotional support animal for flight

    Most react to emotional support animals with coos and adornment, but for Dexter the peacock, reactions were far from welcoming. At Newark, the woman's ticket was refunded, and the airline even gave her taxi fare back to the hotel, Laurie said.
    Trump administration mulls a nationalized 5G network

    Trump administration mulls a nationalized 5G network

    He noted that government data has been hacked, but said it was important 5G networks are "safe and secure". The second options states they can get the help from wireless providers to build their own 5G networks .
    Lady Gaga honours Time's Up campaign with piano-led Grammys performance

    Lady Gaga honours Time's Up campaign with piano-led Grammys performance

    The 60th Annual Grammy Awards were filled to the brim with exciting moments and performances. Hailee SteinfeldHer shimmering aquatic toned smokey eye look made her brown eyes pop.
  • MA  gaming panel to meet Wednesday on Wynn allegations

    MA gaming panel to meet Wednesday on Wynn allegations

    UBS lowered its rating for Wynn Resorts to neutral from buy on Monday, citing the rising scrutiny from regulatory bodies. Wynn, who has denied the allegations, resigned Saturday as finance chairman of the Republican National Committee.
    Hawaii employee mistook drill for real missile attack

    Hawaii employee mistook drill for real missile attack

    In a separate action Tuesday, the FCC voted to approve new requirements created to enhance the geo-targeting of cellphone alerts. The top official of Hawaii Emergency Management Agency has also resigned after taking " full responsibility " for the incident.
    Pistons Shopping Avery Bradley In Trade Talks

    Pistons Shopping Avery Bradley In Trade Talks

    Bradley is scheduled to become an unrestricted free agent this summer and could command an annual salary in the $20 million range. The list of teams that will be mutually beneficial for the Pistons to trade with will be a very small list.


Popular

CDC director resigns after trading tobacco stock in apparent conflict of interest
Murray said Fitzgerald's conflicts had forced her to send deputies to testify at congressional hearings on the opioid crisis. Representative Tom Price, resigned over his use of expensive taxpayer-funded private charter jets for government travel.

Oil prices extend losses ahead of U.S. inventory data
As a result, we forecast gas prices to average at $3 per Mcf in 2018 and slowly grow to $3.40 per Mcf by 2021. Thus, we expect to see a steady yet moderate growth in the U.S. output over the coming months.

Ronda Rousey Still Struggling to Talk About UFC Losses, Addresses MMA Retirement
Even though Ronda is trained in MMA, pro wrestling is a completely different beast so she'll have to learn the ropes. Rousey would travel to the Performance Center at night while filming the "Mile 22" movie in Atlanta.

Lawyers: Trump Shouldn't Be Required to Meet With Mueller
Graham said the memo's review instead should be done by impartial third parties "outside of the Republican-led Congress". In an interview on ABC's "This Week", Graham said Mueller is "the flawless guy" to get to the bottom of what happened.

Polish team saves French woman from Pakistan's 'Killer Mountain'
No further information is available for Tomasz Mackiewicz, a Polish climber who accompanied Revol on the climb. Both had made the ascent before, and were trying the especially challenging feat of doing it in winter.

Gowdy: Launch FISA Memo, However Let FBI Study First
That's information that the American people should have about the law-enforcement arm of the Department of Justice. Some have made statements suggesting the memo confirms that premise.

DOJ prolonged surveillance of Trump marketing campaign adviser over Steele file findings
Page told The Daily Caller last week that he "very much" hopes that the push to release the FISA memo will be successful. Devin Nunes wrote about the Justice Department to be released - and we might now know why he's so eager.

Trump reportedly working to get Nunes memo released
Trey Gowdy, R-S.C., and members of their staffs have reviewed those documents on behalf of the House Intelligence Committee. In other words, the chairman of the Intelligence Committee is seeking to compromise America's national security.

Yemen separatists send reinforcements to Aden
The STC accused bin Daghr's government of attacking peaceful protesters and urged Hadi to sack the prime minister and his cabinet. Ahead of the planned protest, the coalition called for calm and restraint from "all Yemeni political and social" parties.

Oklahoma City Thunder vs. Philadelphia 76ers - 1/28/18 NBA Pick, Odds, and Prediction
As of Sunday morning, 67% of betting tickets wagered at online sportsbooks are on the Thunder to cover the spread . Anthony has been a prolific scorer since he was drafted third overall by the Denver Nuggets in the 2003 NBA Draft.