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U.S. Representative Jeff Hurd (R-Colo.) has been appointed as the new chairman of the House subcommittee that is responsible for matters concerning Puerto Rico.
The 45-year-old first-term legislator from Grand Junction, who now represents Colorado’s 3rd Congressional District after U.S. Representative Lauren Boebert’s four-year tenure, will lead the Subcommittee on Indian and Insular Affairs, which is under the House Committee on Natural Resources.
Hurd has indicated that he will focus on border security, enhancing the energy sector in Colorado’s 3rd District, and safeguarding the state’s water and agricultural resources while in Congress.
He previously worked at Sullivan & Cromwell LLP (S&C), a global law firm that has provided advice to clients in Puerto Rico on a range of issues, including credit leveraged finance, airports, and environmental deals.
For example, S&C advised the U.S. Department of Energy regarding a loan guarantee aimed at funding solar energy initiatives in Puerto Rico. Additionally, S&C represented a group in the bidding process for a long-term concession at Luis Muñoz Marín Airport in San Juan several years ago.
“Importantly, Chair Hurd clerked for the chief judge of the 10th Circuit & was employed by Sullivan & Cromwell. He should have no difficulties navigating the Prepa (Puerto Rico Electric Power Authority) litigation complexities,” remarked Cate Long, who manages a research service for Puerto Rico bondholders.
The PREPA bankruptcy has been in a deadlock for over a year as some bondholders and the utility have not reached a resolution regarding the utility’s $9 billion debt. Mediators in the case reported on Thursday that they spent merely 20 hours in mediation over the previous month.
Regarding energy, Hurd “endorses the responsible development of energy resources” in his home state, highlighting “some of the cleanest oil and natural gas molecules on the planet,” as stated on his campaign website.
