The FBI yesterday arrested two former senior officials who served in the administration of Puerto Rico Gov. Ricardo Rosselló, leading the chair of the House committee that oversees Puerto Rico to call for the governor to step down, the Washington Post reported.
Puerto Rico in Distress
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A group of creditors that hammered out an $8.3 billion restructuring proposal covering Puerto Rico’s bankrupt power authority are receiving $151 million in special payments for their trouble, pushing their recoveries higher than the baseline of 77.5 cents on the dollar, WSJ Pro Bankruptcy reported.
A lawsuit to invalidate $14 billion of Illinois bonds draws inspiration from Puerto Rico’s restructuring, according to a Bloomberg editorial. Indeed, munis are off to a blistering pace in 2019, with mutual and exchange-traded funds focused on the debt on track to pull in a record amount of cash this year.
A federal control board overseeing Puerto Rico’s finances sued the U.S. territory’s governor Wednesday, saying he refuses to submit required documents and has approved tens of millions of dollars in unbudgeted spending amid a 13-year recession, the Washington Post reported. The board also accused Gov.
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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.