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DPC DATA

@DPCDATA

Client-centric solutions for the fixed income marketplace since 1992

Roseland, NJ 加入时间 Aralık 2013
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Chris Hamel
Chris Hamel@chrishamel01·
"A record-breaking heat wave is scalding California, with major consequences for the state’s most important reservoir: its snowpack." Read more reporting: latimes.com/california/sto…
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DPC DATA
DPC DATA@DPCDATA·
Why do muni AI projects stall? Bad data in, bad signals out. Scraping EMMA or raw docs creates gaps and unreliable credit outputs. @DPCDATA delivers AI-ready muni data: mapped, human-verified, and audit-ready. Less wrangling. Better decisions. dpcdata.com/products/ai-tr…
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Cate Long
Cate Long@cate_long·
PR OBoard says no progress towards consensual deal on Prepa. Judge Swain says bondholders will continue to argue that there is more capacity and contigent value instrument (CVI) could bridge the gap. What's the OBoard's problem with that? #muniland OB's Bienenstock says initial reason was that because bhs have a secured claim has to be paid in full at confirmation (all bs). To confirm the plan bondholder claim has to be liquidated. [Bienenstock is full of crap and a big part of the reason this bankruptcy has gone on for 9 years]. Says agreeing on CVI terms very hard [endless bs]. Finally says a CVI is possible and could be on the table. Only one recent meeting of OBoard and mediation team. Another meeting possible in the future. Swain says not trying to structure a cramdown now. Says OBoard term ends next year and what are their goals before then. Bienenstock says a plan could be confirmed by then if the court valued the bondholder claim before then. OBoard says the board composition could change before then based on Lisa Cook SCOTUS case but OBoard was appointed under Territorial Clause (which means they intend to litigate against the president - SCOTUS wont agree). Swain says she doesn't have a good sense that any real progress was made in mediation and bondholder admin expense will be appealed and OBoard members leaving will leave PR without reliable electricity at affordable rates. Current plan has stale numbers and little support & unconfirmable. Since she dismissed the Prepa admin expense this is the moment to get real involvement. Says Promesa didn't come into being for endless litigation. ***************************************************************************************************************************************************FINALLY*************************************************************************************************************************************** says she needs to see real progress [she should have said this 5 years ago]. Have to accept that bondholders strongly believe their view on debt capacity and need to focus on discovery that really gets to agreement [BONDHOLDERS SAID AT PREVIOUS CONFIRMATION HEARINGS THAT CVIS WOULD WORK. THAT WAS IN MARCH 2024]. Glenn Kurtz for Goldentree and bondholders says committed to mediation. Asks the court to lift stay to allow bondholders 2022 motion to dismiss the case, bhs need adequate protection, vacate stay on accounting claim [1st Circuit validated accounting claim]. Swain says discovery needs specific procedural processes. Will wait for joint report (March 30) and tells parties to think creatively. Gibson Dunn's Estrada for Assured says willing to work towards agreement but wants to raise #5510 to protect bondholder rights. Wants lift stay. Omelveny for AFFAF willing to engage in mediation. AFFAF remains concerned by cost of mediation team. Bienenstock for OBoard. Putting Prepa case on hold for admin expense appeal is the worst result. Don't think bondholders have a right to appeal the admin exp [typical Bienenstock BS]. Says bondholder litigation could be constructive if turned into value of secured claim [Bienenstock knows that Swain despises bondholders and thinks this path would cram down bhs harder than a negotiated settlement]. Re motion to dismiss -- normally courts dont dismiss cases where a plan is on the table that is confirmable [Swain already says the 5th plan is not confirmable]. Swain verbally denies the motion to dismiss the Prepa case without prejudice.
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Chris Hamel
Chris Hamel@chrishamel01·
"It’s not clear how climate change will affect Colorado yet, but warming temperatures are causing snow to decline across the American West, while also doubling the frequency and intensity of extreme wildfires worldwide." nytimes.com/2026/03/15/cli…
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Cate Long
Cate Long@cate_long·
The flourishing art deco city where Route 66 was born. Great travel article about Tulsa, Oklahoma in the London Times (no paywall). thetimes.com/travel/destina…
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