Puerto Rican officials testifying at a Senate Committee on Finance hearing Tuesday urged U.S. lawmakers to provide Puerto Rico with the same access to Chapter 9 of the federal bankruptcy code that U.S. states receive as the territory struggles under a $73 billion debt cloud.
While Melba Acosta, president of the Government Development Bank for Puerto Rico, said the financial crisis has “passed the tipping point” and called on Congress to take immediate action, Puerto Rico’s representative in the U.S. Congress, Pedro R. Pierluisi, said disparities...
By Maya Rajamani
Puerto Rico Demands Same Bankruptcy Help That States Get
No comments:
Post a Comment