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PREPA Bond Arguments Pose Danger To Municipal Revenue Bond Market

Chair of Mintz's Bankruptcy & Restructuring Practice, Bill Kannel  and Member Len Weiser-Varon co-authored an article published by The Bond Buyer analyzing arguments raised by Puerto Rico Electric Power Authorities (PREPA) parties that undermine the basics of municipal finance. The article explains, "After several iterations of plan support agreements and attempts to negotiate a consensual resolution with one of the Puerto Rico debt complexes' largest creditor constituencies, Puerto Rico's Financial Oversight and Management Board has done an about face and pivoted to a scorched earth litigation strategy that not only will delay its exit from bankruptcy but may impede its access to capital markets in the future."


The Bond Buyer