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Federal Court Authorizes Liquidation of The Phoenix Fund Despite Bankruptcy

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San Juan, Puerto Rico – The legal saga surrounding The Phoenix Fund (TPF) has taken a decisive turn, as a federal bankruptcy court has authorized its liquidation despite the fund’s recent filing for Chapter 11 bankruptcy protection. This decision, handed down by the U.S. District Court for the District of Puerto Rico, allows the Office … Read more

Puerto Rico: $80M State Insurance Fund Investments Deemed High-Risk

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San Juan, Puerto Rico – Investments totaling $80 million made by the Puerto Rico’s State Insurance Fund Corporation (CFSE) in The Phoenix Fund (TPF) and PUC Holding were considered “high risk,” according to Johnny Román Flores, the corporation’s auxiliary administrator of Finance and Administration. The revelation comes as the CFSE pursues legal action to recover … Read more