The oversight board charged with digging Puerto Rico out of $72 billion in debt has white-shoe law firms vying to quarterback a lengthy and likely contentious restructuring, WSJ Pro Bankruptcy reported on Friday.
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Some Puerto Rico general obligations rallied to the highest price in nearly 17 months after the island elected New Progressive Party candidate Ricardo Rossello for governor, ushering in a change of power after the island defaulted on a growing share of its debt, Bloomberg reported yesterday.
A passionate advocate for making Puerto Rico the 51st U.S. state appears poised to become the next governor of the territory, giving a boost to a movement that has been gaining momentum amid the island's economic woes, the Associated Press reported on Friday.
What some Puerto Rico bondholders dreaded the most under the creation of a federal oversight board may end up leading to a long-sought resolution to the first debt-restructuring agreement reached by the commonwealth.
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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.