Puerto Rico HTA plan confirmation hearing set for mid-August
Swain filed her order Wednesday in the U.S. District Court for Puerto Rico, approving the Oversight Board-proposed disclosure statement, ballots, and election notices on the proposed plan of adjustment. Swain set the confirmation hearing for
In mid-May, the Oversight Board told Swain the plan already was supported by enough of the creditors to assure passage.
Swain set the date for votes to be received to be
While the terms of the HTA bond restructuring were largely set in the central government’s plan of adjustment approved in January, HTA bondholders did not get cash, bonds, or contingent value instruments when that plan was executed in March. Further conditions had to be met, including court approval.
According to the terms of the proposed HTA plan of adjustment, holders of
The plan includes a
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