A Michigan county’s decision to postpone a $53 million bond sale highlights the difficulty fiscally strapped issuers everywhere may face in the wake of Detroit’s record bankruptcy filing, the Wall Street Journal reported today.
Puerto Rico in Distress
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Guy G. Gebhardt has been appointed as Acting U.S. Trustee for Florida, Georgia, Puerto Rico, and the U.S. Virgin Islands (Region 21), and Judy A. Robbins, the U.S. Trustee for the Southern and Western Districts of Texas (Region 7), has been designated to serve as the U.S.
President Barack Obama on Friday signed into law bipartisan legislation designed to prevent a widespread shortage of bankruptcy judges by extending 29 temporary judgeships, Dow Jones DBR Small Cap reported today. The legislation extends by five years---through May 21, 2017---29 temporary judgeships in Puerto Rico and 14 states, including in California, Delaware, Florida and New York.
Congress sent a bill to the White House on Thursday that would extend 30 temporary federal bankruptcy judgeships for another five years, but Democrats fear an amendment attached to it could make it tougher to extend them again, the Legal Times reported on Friday.
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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.