{"id":6850,"date":"2019-03-05T11:32:04","date_gmt":"2019-03-05T17:32:04","guid":{"rendered":"https:\/\/www.investorlawyers.com\/?p=6850"},"modified":"2022-05-19T09:58:44","modified_gmt":"2022-05-19T14:58:44","slug":"hedge-funds-that-own-puerto-rico-general-obligation-bonds-continue-to-fight-for-repayment","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/hedge-funds-that-own-puerto-rico-general-obligation-bonds-continue-to-fight-for-repayment\/","title":{"rendered":"Hedge Funds That Own Puerto Rico General Obligation Bonds Continue to Fight for Repayment"},"content":{"rendered":"<p>\t\t\t\tAccording to The <em><a href=\"https:\/\/www.wsj.com\" target=\"_blank\" rel=\"noopener noreferrer\">Wall Street Journal<\/a><\/em>, three hedge funds that own Puerto Rico general obligation (GO) bonds have set up their own committee in an effort to get paid back the money they are owed. Court records indicate that GoldenTree Asset Management, Monarch Alternative Capital, and Whitebox Advisers, which collectively own about $800 million of GO debt, want to distinguish themselves from the other bondholders whose claims have recently come under question.<\/p>\n<p>Their committee formation comes just weeks after Puerto Rico\u2019s fiscal oversight board,known as the Financial Oversight and Management Board (the \u201cBoard\u201d), raised questions about whether $6 billion in general obligations are valid. The bonds at issue were sold after March 2012, including $3.5 billion of high yield general obligations that the island sold in 2014. Monarch, Whitebox, and GoldenTree purchased their GO bonds prior to March 2012.<\/p>\n<p><strong>Puerto Rico Continues to Owe Over $70 billion in Debt.<\/strong><\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/hedge-funds-that-own-puerto-rico-general-obligation-bonds-continue-to-fight-for-repayment\/\"  title=\"Continue Reading Hedge Funds That Own Puerto Rico General Obligation Bonds Continue to Fight for Repayment\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>According to The Wall Street Journal, three hedge funds that own Puerto Rico general obligation (GO) bonds have set up their own committee in an effort to get paid back the money they are owed. Court records indicate that GoldenTree Asset Management, Monarch Alternative Capital, and Whitebox Advisers, which collectively own about $800 million of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":427,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3748,4051],"tags":[2832,3241],"class_list":["post-6850","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hedge-funds","category-puerto-rico-debt-crisis","tag-general-obligation-bonds","tag-puerto-rico-bond-fraud"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Hedge Funds That Own Puerto Rico General Obligation Bonds Continue to Fight for Repayment &#8212; Investor Lawyers Blog &#8212; March 5, 2019<\/title>\n<meta name=\"description\" content=\"Three hedge funds that own Puerto Rico general obligation bonds have set up their own committee in an effort to get paid back the money they are owed.\" \/>\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\/hedge-funds-that-own-puerto-rico-general-obligation-bonds-continue-to-fight-for-repayment\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Hedge Funds That Own Puerto Rico General Obligation Bonds Continue to Fight for Repayment &#8212; 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Investor Lawyers Blog &#8212; March 5, 2019","twitter_description":"Three hedge funds that own Puerto Rico general obligation bonds have set up their own committee in an effort to get paid back the money they are owed.","twitter_image":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/04\/contract-dispute.jpg","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\/hedge-funds-that-own-puerto-rico-general-obligation-bonds-continue-to-fight-for-repayment\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/hedge-funds-that-own-puerto-rico-general-obligation-bonds-continue-to-fight-for-repayment\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Hedge Funds That Own Puerto Rico General Obligation Bonds Continue to Fight for Repayment","datePublished":"2019-03-05T17:32:04+00:00","dateModified":"2022-05-19T14:58:44+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/hedge-funds-that-own-puerto-rico-general-obligation-bonds-continue-to-fight-for-repayment\/"},"wordCount":680,"image":{"@id":"https:\/\/www.investorlawyers.com\/blog\/hedge-funds-that-own-puerto-rico-general-obligation-bonds-continue-to-fight-for-repayment\/#primaryimage"},"thumbnailUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/04\/contract-dispute.jpg","keywords":["General Obligation bonds","Puerto Rico bond fraud"],"articleSection":["Hedge Funds","Puerto Rico Debt Crisis"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/hedge-funds-that-own-puerto-rico-general-obligation-bonds-continue-to-fight-for-repayment\/","url":"https:\/\/www.investorlawyers.com\/blog\/hedge-funds-that-own-puerto-rico-general-obligation-bonds-continue-to-fight-for-repayment\/","name":"Hedge Funds That Own Puerto Rico General Obligation Bonds Continue to Fight for Repayment &#8212; 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