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Tuesday, October 11, 2016

Puerto Rico News Digest For October 11, 2016


ROSELLO AHEAD IN ELECTION POLL



















In a 2016 gubernatorial election poll conducted by the El Nuevo Día newspa-
per, New Progressive Party candidate Ricardo Rosselló has come out with a
solid 12% lead over Popular Democratic Party candidate David Bernier, with
40% for Rosselló versus 28% for Bernier. Independent candidate Alexandra
Lúgaro has obtained an unprecedented 13% in the poll, while fellow unaffili-
ated candidate Manuel Cidre reached 9%. They are followed by Puerto Rico
Independence Party standard bearer María de Lourdes Santiago with 3% and
Working People's Party nominee Rafael Bernabe with 1%. Five percent of re-
spondents stated that they are still undecided, while 1% said they will not be
voting. The poll was conducted between October 2 and 6 and surveyed a sam-
ple of 1,000 voters.


FOUR CONVICTED IN PDP BRIBERY CASE


From The San Juan Daily Star:

"After three days of deliberation, a federal jury returned a guilty verdict against
four defendants accused of participating in a government corruption scheme led
by former Popular Democratic Party (PDP) fundraiser Anaudi Hernández Pérez.
Sally López Martínez, former director of the Labor Development Administration,
Ivonne Falcón Nieves, former vice president of the Puerto Rico Aqueduct and Se-
wer Authority, Marielis Falcón Nieves, Ivonne’s sister, and Glenn Omar Rivera Pi-
zarro, a former aide in the Administrative Office of the island House of Represen-
tatives, were found guilty by a jury of six men and six women. The four were fou-
nd guilty of conspiracy to commit electronic fraud, fraud of honest service, bribery
and extortion, among other charges..."



LMM AIRPORT TO CARRY OUT EMERGENCY EXERCISE


From Caribbean Business:

"Carolina’s Luis Muñoz Marín International Airport (LMM) will be conducting a
full-scale emergency exercise (FSE) Thursday, Oct. 13, from 9 a.m. to 5 p.m. Fed-
eral Aviation Administration regulations require U.S. airports to conduct these ev-
ery three years...A release explains that the emergency exercise is to verify opera-
tions to develop effective responses by personnel through the simulation of a pass-
enger aircraft crash, specifically a Boeing 737, sponsored by United Airlines, whi-
le landing at LMM, allowing the airport to practice its emergency response proce-
dures, along with business continuity plans to restore functionality..."


HEDGE FUNDS SUE PR OVER SALES TAX BONDS


From Bloomberg:

"Hedge funds holding Puerto Rico’s 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’s constitution. It is the first legal action
for the U.S. territory that pits general-obligation bondholders against investors of sa-
les-tax debt. Puerto Rico’s constitution states its general obligations must be repaid
before other expenses. A portion of the island’s sales-tax revenue is dedicated to re-
paying bonds, called Cofinas by their Spanish acronym..."

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