Supreme Court strikes down Puerto Rican restructuring law
Puerto Rico (Credit: iStock.com/Tarik Kizilkaya)
The US Supreme Court has affirmed that a Puerto Rican law based on Chapter 9 of the US Bankruptcy Code, through which the island was hoping to restructure its US$73 billion in debt, conflicts with federal legislation – leaving it to a bill pending before congress to help the territory with its woes.
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