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Expert Analysis

Puerto Rico Bondholders Share The Pain

By Bradley Wendt (August 4, 2017, 12:40 PM EDT) -- The commonwealth of Puerto Rico has embarked on the first phase of restructuring over $74 billion of debt. The Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) governs the United States' largest municipal restructuring. The U.S. Congress enacted PROMESA in 2016, providing Puerto Rico broad in-court restructuring methods modeled on Chapter 9 of the U.S. Bankruptcy Code.[1]...

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