Funds managed by BlueMountain Capital are holders of power revenue bonds in Puerto Rico Electric Power Authority (PREPA), a public corporation
that provides electrical power to residents and businesses in the Commonwealth of Puerto Rico.
1) The system should organize itself as a public corporation
with its own self-perpetuating Board of Regents.
While the established Protestant and Catholic churches have "public corporation
" status in Germany, enabling them to benefit from state religious tax collection in return for church provision of social services, Muslims' organizational structure has been deemed insufficiently hierarchical (and its groups too small or impermanent) to merit such status German officials maintain that they have no basis for choosing among the Muslim organizations in granting public corporation
status, while Muslims argue that the failure to resolve this issue is indicative of German unwillingness to recognize Muslims' religious needs and place Islamic religious organizations at the same level as the Christian Churches.
THE UPPER HOUSE passed bills which will lead by March 2006 to the privatization of the Japan Highway Public Corporation
, Metropolitan Expressway Public Corporation
, Hanshin Expressway Public Corporation
and Honshu-Shikoku Bridge authority.
The sorry state of public corporation
reform is clear from what happened to the centerpiece of Koizumi's reform plan-the privatization of Japan Highway and the three related road-building public corporations
The creation of a public corporation
to take over postal services and the privatization of the highway-related public corporations
represent the first steps in this direction, but just as in the case of non-performing loan disposals in the banking sector, progress has been too slow.
Banks had previously extended loans without collateral to the public corporation
, which is wholly owned by the prefectural government, in view of its creditworthy status and huge deals between the banks and the prefectural government.
Vested interests aside, the public corporation
system is deeply troubled.
Hershey, for its part, is officially a public corporation
, but it has been insulated from outside pressure by the fact that the Hershey Foundation owns a sizeable chunk of the company.
While the term "taxable Canadian property" includes shares of a private corporation, it does not generally include shares of a public corporation
Standex has paid dividends each quarter since it became a public corporation
in November 1964.
In late June, Puerto Rico passed the Public Corporation
Debt Enforcement and Recovery Act ("Recovery Act"), which is intended to provide an orderly process through which public corporations
can continue providing critical services without relying on the Commonwealth, the GDB, or other municipal entities for financial support, even in times of financial distress.