{"id":4786,"date":"2017-09-16T14:11:55","date_gmt":"2017-09-16T19:11:55","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4591"},"modified":"2022-03-22T14:43:32","modified_gmt":"2022-03-22T19:43:32","slug":"hurricane-maria-loss-power-puerto-rico-prepa-bondholders-lose-investments-good","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/hurricane-maria-loss-power-puerto-rico-prepa-bondholders-lose-investments-good\/","title":{"rendered":"After Hurricane Maria and Loss of Power in Puerto Rico, PREPA Bondholders Could Lose Investments For Good"},"content":{"rendered":"<p>\t\t\t\t<em>MarketWatch <\/em>reports that with the power out for what could be months in Puerto Rico in the wake of Hurricane Maria, this could mean that investors holding $9 billion of Puerto Rico Electrical Authority (PREPA) bonds may end up never seeing the money they invested in the US territory\u2019s electrical authority. Meantime, Puerto Rico\u2019s residents must now also grapple with recovering from the physical devastation caused by the heavy rains, winds and flooding from Hurricane Maria.<\/p>\n<p>The power outage comes just three months after PREPA filed for bankruptcy protection and the financial oversight board appointed to deal with the territory\u2019s $74 billion of debt turned down a restructuring deal between the electrical authority and a group of insurers and bondholders. For many Puerto Rico investors, Hurricane Maria comes just four years after they sustained major losses from investing in Puerto Rico bonds and closed-end bond funds\u2014securities that brokerage firms such as Santander Securities (SAN), Banco Popular, UBS Puerto Rico (UBS-PR), Oriental Financial Services and others touted as low risk, safe investments, even to customers who did not have the portfolio to handle the actual, higher risks involved.<\/p>\n<p>Currently, there are thousands of Puerto Rico bond fraud and closed-end bond fraud cases awaiting arbitration hearings before the Financial Industry Regulatory Authority (FINRA). Our Puerto Rico bond fraud attorneys at Shepherd Smith Edwards and Kantas have been representing investors on the island and the US mainland in helping them try to recover these investment losses.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/hurricane-maria-loss-power-puerto-rico-prepa-bondholders-lose-investments-good\/#more-4786\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MarketWatch reports that with the power out for what could be months in Puerto Rico in the wake of Hurricane Maria, this could mean that investors holding $9 billion of Puerto Rico Electrical Authority (PREPA) bonds may end up never seeing the money they invested in the US territory\u2019s electrical authority. Meantime, Puerto Rico\u2019s residents [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3922,4039],"tags":[],"class_list":["post-4786","post","type-post","status-publish","format-standard","hentry","category-municipal-bonds","category-puerto-rico-bond-funds"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>After Hurricane Maria and Loss of Power in Puerto Rico, PREPA Bondholders Could Lose Investments For Good &#8212; Investor Lawyers Blog &#8212; September 16, 2017<\/title>\n<meta name=\"description\" content=\"MarketWatch reports that with the power out for what could be months in Puerto Rico in the wake of Hurricane Maria, this could mean that investors holding &#8212; September 16, 2017\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/hurricane-maria-loss-power-puerto-rico-prepa-bondholders-lose-investments-good\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"After Hurricane Maria and Loss of Power in Puerto Rico, PREPA Bondholders Could Lose Investments For Good &#8212; Investor Lawyers Blog &#8212; September 16, 2017\" \/>\n<meta name=\"twitter:description\" content=\"MarketWatch reports that with the power out for what could be months in Puerto Rico in the wake of Hurricane Maria, this could mean that investors holding &#8212; September 16, 2017\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"After Hurricane Maria and Loss of Power in Puerto Rico, PREPA Bondholders Could Lose Investments For Good &#8212; Investor Lawyers Blog &#8212; September 16, 2017","description":"MarketWatch reports that with the power out for what could be months in Puerto Rico in the wake of Hurricane Maria, this could mean that investors holding &#8212; September 16, 2017","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/hurricane-maria-loss-power-puerto-rico-prepa-bondholders-lose-investments-good\/","twitter_card":"summary_large_image","twitter_title":"After Hurricane Maria and Loss of Power in Puerto Rico, PREPA Bondholders Could Lose Investments For Good &#8212; Investor Lawyers Blog &#8212; September 16, 2017","twitter_description":"MarketWatch reports that with the power out for what could be months in Puerto Rico in the wake of Hurricane Maria, this could mean that investors holding &#8212; September 16, 2017","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/hurricane-maria-loss-power-puerto-rico-prepa-bondholders-lose-investments-good\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/hurricane-maria-loss-power-puerto-rico-prepa-bondholders-lose-investments-good\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"After Hurricane Maria and Loss of Power in Puerto Rico, PREPA Bondholders Could Lose Investments For Good","datePublished":"2017-09-16T19:11:55+00:00","dateModified":"2022-03-22T19:43:32+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/hurricane-maria-loss-power-puerto-rico-prepa-bondholders-lose-investments-good\/"},"wordCount":630,"articleSection":["Municipal Bonds","Puerto Rico Bond Funds"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/hurricane-maria-loss-power-puerto-rico-prepa-bondholders-lose-investments-good\/","url":"https:\/\/www.investorlawyers.com\/blog\/hurricane-maria-loss-power-puerto-rico-prepa-bondholders-lose-investments-good\/","name":"After Hurricane Maria and Loss of Power in Puerto Rico, PREPA Bondholders Could Lose Investments For Good &#8212; 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