Puerto Rico Fiscal Board Sends Debt Plan To Creditor Talks

Law360 (November 20, 2020, 5:07 PM EST) -- Puerto Rico's financial board on Friday sent its plan to restructure the island's finances out for a possible filing with the court, after a board member who had walked out of a previous meeting said he was satisfied that the board would talk it over with creditors first.

At the remote meeting, Financial Oversight and Management Board member Justin Peterson said his opposition to the revised fiscal plan hadn't changed, but he was now reassured that talks with creditors will precede any attempt to gain court approval for the plan.

"Let's get at the table and see what people say," he...

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