Puerto Rico Oversight Board Says It Should Lead Debt Probe
Law360, New York (August 3, 2017, 8:56 PM EDT) -- The federally appointed board overseeing Puerto Rico's historic debt restructuring said Thursday that it opposed a bid from a group of creditors for a probe into the territory's debt, saying that it was the party best able to investigate the debt and its "relationship to the fiscal crisis."
The Financial Oversight and Management Board for Puerto Rico, installed last year as part of the federal government's legislative package to see the U.S. territory through a massive debt crisis, said in a press release Wednesday that it would commence a comprehensive investigation into the underlying causes of the island's economic turmoil, particularly...
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