A group of public labor unions and other creditors yesterday asked a judge to grant it power to pursue probes into individuals who contributed to Puerto Rico’s fiscal crisis because the U.S. commonwealth’s federally created financial oversight board has failed to do so, Reuters reported.
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Four banks on Friday fired back at a move by Puerto Rico’s federally created financial oversight board to force them to disclose customer information related to certain debt issued by the bankrupt U.S. commonwealth, Reuters reported. The board on Monday asked the U.S.
Puerto Rico’s bankrupt power authority moved closer to a creditor settlement that would ease its potential privatization, agreeing to restructuring terms with a bond guarantor and seeking to postpone further litigation, WSJ Pro Bankruptcy reported.
Puerto Rico’s federally created oversight board believes it can recover payments to bondholders possibly in the billions of dollars if certain debt sold by the bankrupt U.S. commonwealth is found to be invalid, according to a motion filed on Tuesday in federal court, Reuters 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.