Puerto Rico on Friday asked the U.S. Supreme Court to overturn a ruling that blocks the restructuring of the commonwealth's public agencies, as the island grapples with trying to restructure its huge debt load, Reuters reported on Friday. In a petition seeking the Court's review, Puerto Rico said that a lower court erred in concluding that U.S.
Puerto Rico in Distress
Video Features
ABI Analysis
Puerto Rico’s first bond issue since the commonwealth defaulted on a debt payment has been pushed out to Thursday at the earliest as investors evaluate the risk of the island’s restructuring plans, Bloomberg News reported yesterday.
Puerto Rico’s main water utility plans to sell $750 million of revenue bonds, the first debt offering from the financially struggling Caribbean island since it defaulted on securities sold by one of its agencies last week, Bloomberg News reported yesterday. The deal may price as soon as next week. It will follow the Public Finance Corp.’s failure to make a full bond payment on Aug.
This article tests the premise of limited federal court involvement in municipal bankruptcy cases against the real world of Detroit’s restructuring. The study is based on listening to digital audio recordings of court hearings and status conferences throughout the case in nearly real time, coupled with other primary source materials.
Other Resources
The Financial Oversight and Management Board for Puerto Rico was created under the Puerto Rico Oversight, Management and Economic Stability Act of 2016. The Board consists of seven members appointed by the President of the United States and one ex officio member designated by the Governor of Puerto Rico. Access information on the Board, documents, videos of meetings, calendar of events and live webcasts by clicking here.