Regional news: Puerto Rico

Puerto Rico’s Magnificent Seven

GRR profiles President Obama’s appointments to the seven-member board that will deal with Puerto Rico's US$72 billion debt pile - as well as the representative who will sit on the board on behalf of the Island's governor.

01 September 2016

Bondholders allege Puerto Rico breached PROMESA within hours of passage

A group of hedge funds whose New York suit was stayed by the passage of the Puerto Rico Oversight Management and Stability Act (PROMESA) have initiated further litigation, alleging the island territory breached the act just hours after it was passed.

22 July 2016

US Senate passes Puerto Rico restructuring bill as default looms

The US Senate passed a controversial restructuring bill to address Puerto Rico’s ongoing debt crisis, a day before its potential default on more than US$1 billion in bond payments.

30 June 2016

Insurers sue Puerto Rico for “unconstitutional” debt clawbacks

Two financial insurers are suing Puerto Rico for allegedly breaching the US Constitution, after the island’s governor clawed back funds meant for infrastructure agencies to repay debt.

21 January 2016

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