A long-awaited plan to restructure Puerto Rico’s core government debt will finally be filed in court later this month, an attorney for the bankrupt U.S. commonwealth’s federally created financial oversight board told a federal judge yesterday, Reuters reported.
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Supreme Court Justices have a challenge in deciding who will argue what, when and for how long in the five consolidated cases involving a constitutional challenge to the board created to oversee Puerto Rico's massive debt restructuring, according to a Law.com commentary.
Federal prosecutors indicted a high-ranking Federal Emergency Management Agency official and the former president of a Puerto Rico utility contractor, charging them with corruption in connection with repairs to the U.S. territory’s hurricane-ravaged electric grid, WSJ Pro Bankruptcy reported. The U.S.
Two holdout bond insurers have agreed to a previously announced deal to restructure more than $8 billion of revenue bonds issued by Puerto Rico’s bankrupt electric utility, the U.S. commonwealth’s federally created financial oversight board said yesterday, Reuters reported. The action by National Public Finance Guarantee Corp. and Syncora Guarantee Inc.
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This wiki is a repository for members of the U.S. Congress, other policy makers, academics, investors, the media and the general public to understand the challenges facing Puerto Rico in 2016 and to provide data and information to begin crafting long term sustainable solutions. Click here to view.