What Should Puerto Rico Offer Its Creditors?

Law360, New York (March 15, 2017, 1:05 PM EDT) -- Richard J. Cooper

Luke A. Barefoot With this week’s certification of the commonwealth’s fiscal plan, the oversight board and the new government in San Juan took their first tangible steps toward defining how much aggregate debt service Puerto Rico can afford to pay its creditors over the coming years. Undoubtedly, creditors and other stakeholders will push back on their analysis, and no doubt disputes will arise as to how such surplus should be allocated among the island’s various creditor groups. But whatever surplus ultimately emerges as...
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