{"id":54723,"date":"2016-10-10T08:18:17","date_gmt":"2016-10-10T12:18:17","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=54723"},"modified":"2016-10-10T08:18:17","modified_gmt":"2016-10-10T12:18:17","slug":"hedge-funds-holding-puerto-rico-gos-sue-over-sales-tax-bonds","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2016\/hedge-funds-holding-puerto-rico-gos-sue-over-sales-tax-bonds.html","title":{"rendered":"Hedge Funds Holding Puerto Rico GOs Sue Over Sales-Tax Bonds"},"content":{"rendered":"<p>(Bloomberg) Hedge funds holding Puerto Rico\u2019s general-obligation bonds are asking a court to stop the commonwealth from directing sales-tax revenue to repay other debt backed by that money because it violates the island\u2019s constitution.<\/p>\n<p>It is the first legal action for the U.S. territory that pits general-obligation bondholders against investors of sales-tax debt. Puerto Rico\u2019s constitution states its general obligations must be repaid before other expenses. A portion of the island\u2019s sales-tax revenue is dedicated to repaying bonds, called Cofinas by their Spanish acronym.<\/p>\n<p><a href=\"http:\/\/www.bloomberg.com\/news\/articles\/2016-10-07\/hedge-funds-holding-puerto-rico-gos-sue-over-sales-tax-bonds\">To read this article:<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Bloomberg) Hedge funds holding Puerto Rico\u2019s general-obligation bonds are asking a court to stop the commonwealth from directing sales-tax revenue to repay other debt backed by that money because it violates the island\u2019s constitution. It is the first legal action [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-54723","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/54723","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=54723"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/54723\/revisions"}],"predecessor-version":[{"id":54724,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/54723\/revisions\/54724"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=54723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=54723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=54723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}