Today's "Eye on Bankruptcy" from Bloomberg Law and ABI features Judge Robert Drain (S.D.N.Y.) and Prof. Stephen Lubben (Seton Hall Law School) with host Bill Rochelle, discussing the implications of a series of important Supreme Court cases from this term: Baker Botts (professional fees), Wellness (bankruptcy court jurisdiction), Caulkett (lien stripping of mortgages), Bullard (appealability of final orders) and Harris (treatment of payments after conversion from Ch. 13).
Puerto Rico in Distress
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ABI Analysis
U.S. Treasury Secretary Jacob J. Lew said that a failure by Congress to help Puerto Rico resolve its debts may hit the retirement portfolios of average Americans, as he stepped up his call for lawmakers to help the island, Bloomberg News reported yesterday.
Jeb Bush called for debt restructuring relief for Puerto Rico yesterday, including the possibility of bankruptcy for the struggling commonwealth government if needed, the Orlando Sentinel reported today.
Puerto Rico can crawl out of its $72 billion debt hole without defaulting on its government debt, says a report commissioned by holders of $5.2 billion of the U.S. commonwealth's government-backed bonds, Reuters reported yesterday.