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2 months ago
Judge grants Puerto Rico's motion to combine bankruptcies of Commonwealth, COFINA
May 17, 2017 / 3:43 PM / 2 months ago

Judge grants Puerto Rico's motion to combine bankruptcies of Commonwealth, COFINA

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SAN JUAN, May 17 (Reuters) - The judge overseeing the bankruptcies of Puerto Rico and its sales tax authority, COFINA, ruled on Wednesday that the cases would be combined for administrative purposes.

Some COFINA stakeholders had objected to the motion, arguing that COFINA is a separate entity whose assets - in the form of sales tax revenue - are earmarked only for its creditors. (Editing by Bernard Orr)

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