PROMESA And The Future Of Puerto Rico: Part 1

Law360, New York (November 15, 2016, 6:10 PM EST) -- The Puerto Rico Oversight, Management, and Economic Stability Act, Pub. Law 114-187 (PROMESA or the Act), was enacted into law on June 30, 2016. The Senate had passed PROMESA on June 29, 2016, and President Obama signed it the next day — one day before the Commonwealth of Puerto Rico was expected to, and did, default on substantial payment obligations.

This two-part article examines what led to the passage of PROMESA, the primary provisions of the Act, the legal relevance of PROMESA to territories other than...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.