RSN Fundraising Banner
FB Share
Email This Page
add comment

writing for godot

Judge Halts Puerto Rico Bankruptcy for 4 Months

Written by Jubilee USA Network   
Wednesday, 24 July 2019 16:44

San Juan, Puerto Rico - In a hearing on Wednesday, US District Court Judge Laura Taylor Swain told Puerto Rico's government, creditors and a federal oversight board that for 120 days all debt suits will be on hold and sent to mediation. Puerto Rico is attempting to resolve more than $72 billion in debt.

"The judge's action will likely slowdown decisions on the overall bankruptcy plan that the oversight board wants approved," stated Jubilee USA Director, Eric LeCompte. LeCompte is a United Nations debt expert who testified to Congress and the oversight board on Puerto Rico's bankruptcy. "While the debt needs to be cut as soon as possible, the current chaos in Puerto Rico and the serious concerns about corruption make it difficult to make prudent bankruptcy decisions at this time."

Hundreds of thousands of people in Puerto Rico are protesting because of Governor Rosselló's offensive language in leaked communications and recent FBI arrests of former members of his administration on corruption charges. your social media marketing partner
Email This Page


THE NEW STREAMLINED RSN LOGIN PROCESS: Register once, then login and you are ready to comment. All you need is a Username and a Password of your choosing and you are free to comment whenever you like! Welcome to the Reader Supported News community.