Puerto Rico Bankruptcy

[LeeMinHoa]

the Puerto Rican senate held a series of hearings on prepa' s  fuel-purchasing irregularities,prepa got into severe financial trouble before the rest of
the puerto rican government, and it was unable to pay fuel in 2014. without the sort of leverage that can be exerted in bankruptcy.

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[1715388169]

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[1715388169]

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[JonahCallan]

Bankruptcy won't be an easy process. A judge still has to approve it. Many prominent Wall Street firms own Puerto Rico's bonds. They are angry about the bankruptcy filing because they fear now they won't get paid back all the money they are owed. The island's financial crisis is so bad that Congress installed a Fiscal Oversight Board to call the shots last year. The board stopped trying to negotiate with creditors this week and filed for bankruptcy.