BlackRock, Nuveen, Taconic, Franklin Advisers, and other investors have abandoned a previous debt-cutting deal with Puerto Rico's bankrupt power utility, PREPA, that was negotiated with former Oversight Board members. These investors have joined the Ad Hoc Group bondholders, including Assured, GoldenTree, and National, forming a coalition representing 90% of PREPA bond par value. Meanwhile, Quanta's subsidiary Luma Energy has filed a lawsuit against PREPA and Puerto Rico's Public-Private Partnership Authority, challenging the termination of their operating agreement. Quanta asserts that PREPA's reasons for ending the agreement are not mere technical disputes and claims PREPA intends to remunicipalize the utility, returning its operation to public hands. Unconfirmed reports suggest that former President Donald Trump and the U.S. Department of Energy favor having PREPA managed by an experienced utility operator. The PREPA Ad Hoc group, GoldenTree, Assured, and National have requested a stay of litigation following the removal of six of seven prior Oversight Board members by President Trump for cause. This stay would allow a reconstituted Oversight Board to determine whether to pursue a new consensual restructuring deal. Additionally, the 2021 Title III order authorized an administrative expense for Quanta/Luma's operating agreement, which the Puerto Rico government is currently attempting to cancel, though the Oversight Board has not taken a position on this cancellation. Separately, Puerto Rico's Supreme Court recently rejected a class action lawsuit concerning pensions and urged Congress to appoint an Ombudsman.