Puerto Rico’s power company holds a massive debt. A key hearing to restructure it has started
By DÁNICA COTO
Associated Press
SAN JUAN, Puerto Rico (AP) — A key hearing over the future of Puerto Rico’s crumbling power company and its staggering $9 billion debt has begun following years of acrimonious talks between the U.S. territory’s government and creditors seeking to recover their investments. The hearing that began Monday in federal court will focus on a proposed debt-restructuring plan and comes nearly seven years after Puerto Rico’s government filed for the biggest bankruptcy in U.S. municipal history. Scores of protesters gathered outside the courthouse ahead of the hearing, decrying that already high power bills would increase again if the plan is approved, leading to an even higher cost of living on the U.S. territory.
