RE:Montalva"PREPA to this date has not made a new or amended submission related to the Montalva PPOA for
the Oversight Board’s review and approval in accordance with the Policy. Accordingly, there is
no action pending from the Oversight Board related to the Montalva PPOA. "
So the reason is due to lack of action from PREPA to make submission to the FOMB regarding Montalva PPOA. Then oblivious that PREPA's wrong doing breached the condition with GRB . They must had already signed an agreement with condition, and the lawyers oblivious would set penalties for not following the agreement .
It is not like oh okay we just gonna throw away the 950m dollar and just going to trust you again with honor system that you gonna follow your words.