Bankruptcy court hearings come to an end

The Fiscal Oversight Board (JSF) is expected to request today, Monday, Federal District Judge Laura Taylor Swain to confirm the plan that would modify some $ 33 billion in central government obligations while indicating that the government has no reason to oppose -at the last minute- the changes that were made to the Adjustment Plan (PDA) after the elimination of the current pension cut. The fiscal body with powers above the elected government will make this appeal to the judge in charge of the Title III Cases of Puerto Rico during what would be the last day of the confirmation hearings of the PDA of the central government that will be held today, Monday.In a letter filed almost at midnight last Thursday, the Board explained to Swain that after signing Law 53 of 2021 and recognizing the power that this body has to establish a kind of piggy bank that ensures the payment of pensions throughout the At the same time, Governor Pedro Pierluisi cannot oppose the new formula that was established when the cut of up to 8.5% to current public sector pensions was eliminated…. (Excerpts from El Nuevo Dia)