NEW YORK May 30 Puerto Rico's government on
Tuesday said it will make a $13.9 million payment on June 1 to
bondholders of the island's largest pension, the Employees
Retirement System or ERS.
The agreement, announced at a court hearing in federal court
in Manhattan, settles a lawsuit filed on Friday as part of ERS'
ongoing bankruptcy. It does not resolve a similar dispute over
about $16 million owed on June 1 to bondholders of Puerto Rico's
sales tax authority, COFINA.
A hearing on the COFINA dispute was underway in the
Manhattan court on Tuesday.
(Reporting by Nick Brown; Editing by Meredith Mazzilli)