Mediators in the Puerto Rico Electric Power Authority bankruptcy said they were “hopeful” for “progress” in negotiating a deal, they said Tuesday in in a filing to U.S. District Court Judge Laura Taylor Swain.
Despite the optimism, mediators said the PREPA bond group and the Puerto Rico Oversight Board remain far apart
The team asked Swain to extend the bankruptcy’s stay on litigation to March 17 and to extend the termination date for mediation to April 30.
Swain extended the litigation stay to March 24 and the mediation to April 30.
The mediators said in early December
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