Reuters reports that a lawyer representing Puerto Rico’s financial oversight panel asserted at a June 5 federal court hearing that “the bankrupt island’s highway authority could run out of cash if it continues to pay all its debt, and signaled big repayment cuts for the authority’s creditors.” Reuters adds that the judge scheduled an August 8 trial on bondholders’ legal challenges to toll revenue “clawbacks” taken by the Puerto Rico Highway and Transportation Authority.
