Banco Popular Demands Rectification to the Board (document)
After the filing of bankruptcy by the Fiscal Control Board (FCB) on Wednesday, the country's financial supervisory body identified the Popular Bank of Puerto Rico (BPPR) as the sole trustee holding a $12 billion debt.
However, due to questions from NotiCel, the head of the Legal Office of the institution, Javier Ferrer, made clearthat, 'We are not the 'bond trustee' of the central government, we are the transfer agent and the paying agent of general obligations', he said adding that as agents they can not be creditors ofPuerto Rico's Government.
In the petition for bankruptcy under Title III of the Federal Law PROMESA, the FCB released the list of the 20 largest creditors and service providers whose debt is not insured or negotiated with the Government.
The rest of the listed are government service providers.
Popular Bank of Puerto Rico $12,096,636,080.00
US Army Corps of Engineers $212,302,479.00
Total Petroleum Corps. $11,506,512.98
Evertec, Inc. $10,167,835.37
Microsoft $8,120,158.00
Baxter Sales & Distribution PR Corp. $6,974,075.05
Cesar Castillo Inc. $6,008,917.52
Ikon Solutions Inc. $5,857,040.37
Kirkland Ellis LLP $5,342,970.45
MC <> <> <> CS$3,998,904.15
Manpower $3,236,683.70
COSALL $3,234,442.17
Puerto Rico Telephone Company $3,200,935.17
Ediciones Santillana Inc. $2,807,231.17
Corporación de Servicios Educativos de Yabucos $2,517,577.33
Cardinal Helath PR $2,460,000.69
Institución Educativa NETS LLC $2,439,180.09
Braxton School of Puerto Rico $2,153,106.90
Workforce Training and Employment Center Inc $2,063,354.80
Ediciones SM $1,893,127.81br /
a href='https://ntc-legacy-assets.s3.amazonaws.com/document_dev/2017/08/22/c5c1b8ecfdb258f1ef085828e536b33f_8129039_ver1.0.pdf' target='_blank' List of creditors _24764/a