Wednesday, July 22, 2015

Will Congress Act On Puerto Rico Chapter 9 Bankruptcy Bills?


 
Two more Democratic senators now join 12 others in co-sponsoring a bill to allow Puerto Rican Puerto Rico's public corporations - such as its beleaguered electric utility - as well as municipalities to use federal Chapter 9 bankruptcy laws to restructure its finances.

Senators Mark Warner and Senate Judiciary Committee chairman Patrick Leahy have stated their support for Senate bill 1774; a similar bill was introduced in the House several months ago. 

Full article and accompanying video available here: Puerto Rico's Economic Woes

Source: NBC News 

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