Puerto Rico Plans for Power Grid Transformation During PREPA Restructuring
The ongoing restructuring of the Puerto Rico Electric Power Authority (PREPA) is one of the largest ever in the electrical power generation industry within the jurisdiction of the United States. The goal is to transform the utility from a bankrupt, mismanaged public corporation into a privately...
Early Dealmaking Benefits Creditors, Debtors in Puerto Rico’s Restructuring
The bankruptcy of the Commonwealth of Puerto Rico and its instrumentalities is unprecedented in legal complexity and scale, with more than $120 billion of municipal liabilities subject to restructuring. To organize and facilitate this task, on June 30, 2016, President Barack Obama signed into law...
Important Court Rulings Arise from Puerto Rico’s Economic Crisis
On January 18, 2022, the U.S. District Court for the District of Puerto Rico entered an order under the Puerto Rico Oversight, Management, and Economic Stability Act, 48 U.S.C. §2101 et seq. (PROMESA), confirming a plan of adjustment for the Commonwealth of Puerto Rico and certain of its...
Public Pensions Spared from Cuts in Puerto Rico’s Restructuring
The Title III case of the Commonwealth of Puerto Rico has been much discussed in restructuring circles since the Financial Oversight and Management Board (FOMB) of Puerto Rico commenced the case approximately five years ago, on May 3, 2017. While many mainland discussions have centered on the...
As Global Crisis Unfolds, TMA Membership Is a Necessity
This issue of the JCR focuses on the restructuring of Puerto Rico. Like the island’s history, the restructuring efforts involving this commonwealth were, in a word, “complicated.” Puerto Rico has a long, rich, and proud history and cultural identity. Before Christopher Columbus set foot on the...
Pressures Continue to Grow in the Ag, Logistics Industries
A few years ago, a prominent Puerto Rican lawyer was musing over who was responsible for Puerto Rico’s financial woes. “It was no one’s fault, but everyone’s to blame,” he remarked. The comment is simple yet powerful, as it captures Puerto Rico’s complex finances, tenuous political standing, and...
Piece-fully Switching Gears: Greg Charleston
Q: How did you gravitate into turnaround and restructuring work? Charleston: Like most turnaround consultants and crisis managers, I stumbled into it by accident. After grad school, I had joined Ernst & Young in the financial consulting group. At the time, it was called the Special Services...
Amendments to Delaware Local Rules Clarify the Scope of Mediation  Privilege
On February 1, 2022, amended local rules for the U.S. Bankruptcy Court for the District of Delaware went into effect. Among other things, the Bankruptcy Court’s revised local rules clarify the scope of mediation confidentiality protections. The amended local rules are likely to be seen as welcome...
2021 TMA Distressed Investing Conference

From the 2021 TMA Distressed Investing Conference

In this session, our experts explore the impact of global, political, and economic events as well as the impact of international developments in key regions on the distressed investing and restructuring industry. Don’t miss a lively...

2021 TMA Distressed Investing Conference

From the 2021 TMA Distressed Investing Conference

TWO SUPERSTAR SEGMENTS!

  • "Around the Balance Sheet" hosted by Jeff Sands, CTP
  • "Around the Creditor Battlefield" hosted by George Klidonas


Distressed Investing has been one of the most popular topics...