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Chapter 9 and Puerto Rico

posted by Stephen Lubben

As Melissa has noted, the First Circuit has found that the Commonwealth's attempt to solve its own problem runs afoul of Congress' "intent" to leave Puerto Rico without a municipal bankruptcy system.

Professor Eichengreen, in an interesting essay on Greece and Puerto Rico, suggests that Congress will fix the problem with the Bankruptcy Code. Word from Washington is somewhat less optimistic.

July 8, 2015 at 5:28 PM in Municipal Bankruptcy, Sovereign Debt

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