PREPA remains in its Title III restructuring, with court-supervised mediation extended through April 30, 2027. The next recurring milestone is the mediation team’s monthly status report, required by the October 29, 2026 order Dkt. 6299; the Oversight Board’s fifth amended plan remains the restructuring proposal described in its March 2025 disclosure statement.

PREPA’s Title III restructuring is continuing in mediation. On October 29, 2026, the court extended the mediation termination date through April 30, 2027, and directed the mediation team to continue filing monthly status reports under the mediation order Dkt. 6299. The court separately extended the lead mediator’s appointment through April 1, 2027, in an October 2 order Dkt. 6294.

PREPA filed its Title III case on July 2, 2017. Its 2023 disclosure statement Dkt. 3297 describes an estimated $11.4 billion in liabilities, including over $9 billion in funded debt, at the time the Oversight Board was appointed in 2016. The case has since involved successive adjustment proposals and litigation over creditor recoveries.

The Oversight Board’s March 2025 disclosure statement for the fifth amended plan Dkt. 5582 proposes creditor distributions funded principally by cash and new bonds, supported in part by approximately $2.6 billion from non-PREPA sources for a rate reduction fund. It describes a settlement with fuel line lenders and a valuation process for non-settling bondholders, whose recovery depends on the value of their collateral. The proposal also provides for a freeze of defined benefit accruals and payment of frozen pension benefits through a pay-as-you-go system. The disclosure statement presents these as plan terms, subject to the restructuring process.

PREPA remains in its Title III restructuring, with court-supervised mediation extended through April 30, 2027. The next recurring milestone is the mediation team’s monthly status report, required by the October 29, 2026 order Dkt. 6299; the Oversight Board’s fifth amended plan remains the restructuring proposal described in its March 2025 disclosure statement.

PREPA’s Title III restructuring is continuing in mediation. On October 29, 2026, the court extended the mediation termination date through April 30, 2027, and directed the mediation team to continue filing monthly status reports under the mediation order Dkt. 6299. The court separately extended the lead mediator’s appointment through April 1, 2027, in an October 2 order Dkt. 6294.

PREPA filed its Title III case on July 2, 2017. Its 2023 disclosure statement Dkt. 3297 describes an estimated $11.4 billion in liabilities, including over $9 billion in funded debt, at the time the Oversight Board was appointed in 2016. The case has since involved successive adjustment proposals and litigation over creditor recoveries.

The Oversight Board’s March 2025 disclosure statement for the fifth amended plan Dkt. 5582 proposes creditor distributions funded principally by cash and new bonds, supported in part by approximately $2.6 billion from non-PREPA sources for a rate reduction fund. It describes a settlement with fuel line lenders and a valuation process for non-settling bondholders, whose recovery depends on the value of their collateral. The proposal also provides for a freeze of defined benefit accruals and payment of frozen pension benefits through a pay-as-you-go system. The disclosure statement presents these as plan terms, subject to the restructuring process.