Puerto Rico in Distress

ABI Analysis

Scalia, Alito Court Absences Shape Puerto Rico Debt-Relief Bid
Two empty chairs at the U.S. Supreme Court could be full of significance as the remaining justices consider whether Puerto Rico can ease its fiscal crisis with a law that would let the island’s public utilities restructure more than $20 billion in debt, Bloomberg reported today. The U.S.
Opinion: Turning Puerto Rico Into the Walking Dead
Saying no to a Puerto Rico bankruptcy will simply leave the territory with a zombie economy that cannot ever right itself, according to an opinion in yesterday’s The Wall Street Journal. Instead, consider the advantages of using the Puerto Rican bankruptcy as an opportunity to write the law that creates the model for the future state bankruptcies.
Hatch Blasts Democrats Over 'Unworkable' Puerto Rico Proposals
Senate Finance Committee chair Orrin Hatch (R-Utah) on Thursday called for Democrats and the administration to be more transparent and realistic after proposing "unworkable" solutions to Puerto Rico's crisis, as Congress continues to work toward bipartisan legislation for the commonwealth, The Bond Buyer reported today.
Puerto Rico Governor Wants Reprieve from Debt Litigation Before Restructuring
Puerto Rico Gov. Alejandro García Padilla on Thursday said he wants to see Congress act on a debt restructuring bill that at the very least provides the island with a reprieve from debt litigation before a financial control board starts overseeing the commonwealth’s finances, the Morning Consult reported yesterday.

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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.

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