Puerto Rico’s federally created financial oversight board asked a federal appeals court yesterday to extend a July 15 deadline for its members to be confirmed by the U.S. Senate, citing concerns that missing it could harm an ongoing restructuring of the bankrupt U.S. commonwealth’s debt, Reuters reported. The action followed an announcement by a U.S.
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Puerto Rico’s federally created financial oversight board on Monday defended a new agreement with creditors, saying it will result in an affordable and sustainable debt level and allow the U.S. commonwealth to exit bankruptcy next year, WSJ Pro Bankruptcy reported.
Puerto Rico’s federally created financial oversight board said on Sunday it has entered into an agreement with bondholders to provide “a framework for a plan of adjustment” to address $35 billion of claims against the bankrupt U.S. territory, Reuters reported.
Puerto Rico’s federal overseers have agreed to roll back some planned pension cuts under a proposed settlement with retirees, a key step toward wrapping up its more than two-year-old bankruptcy, the Wall Street Journal reported.
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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.