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Puerto Rico approves potential bankruptcy for power utility PREPA


SAN JUAN, PUERTO RICO
Petroleumworld 07 03 2017

Puerto Rico's financial oversight board on Friday voted unanimously to allow debt-laden power utility PREPA to file a form of bankruptcy protection under the federal Puerto Rico rescue law known as PROMESA.

The seven-member board voted at a public meeting on Friday to allow a potential filing, while saying it would continue talks with PREPA's creditors toward an out-of-court workout.



Reporting by Nick Brown; Editing by Jeffrey Benkoe from Reuters.

reuters
.com
06 30 2017

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