As Puerto Rico filed the largest municipal bond bankruptcy in U.S. history last week, many believe that all Congress needs to do is take a step back and let the process work itself out.
Puerto Rico in Distress
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Puerto Rico, deep in a fiscal hole it dug partially with its own shovels, is about to grab a rope and start pulling itself out, according to an editorial in today’s New York Daily News.
Supreme Court Chief Justice John Roberts has appointed a New York judge with experience overseeing bankruptcy and financial crime cases to preside over the bankruptcy of Puerto Rico, USA Today reported on Friday. Roberts named U.S.
A little-noticed provision in a bill signed into law in 2016 places the fate of Puerto Rico in the hands of Supreme Court Chief Justice John Roberts, USA Today reported yesterday. PROMESA gives Chief Justice Roberts the power to appoint a U.S. district court judge to oversee the bankruptcy-like case involving a U.S. territory.