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Bondholders Sue to Block Puerto Rico Debt Moratorium


#1

Bondholders Sue to Block Puerto Rico Debt Moratorium

Jubilee USA

WASHINGTON - Owners of Puerto Rico government debt filed suit to undo a debt moratorium law passed by the island's government in April. Puerto Rico owes more than $70 billion in debt and nearly $2 billion is due July 1. The US Senate is debating a bill (the Puerto Rico Oversight, Management and Economic Stability Act, or "PROMESA") passed June 9 by the House of Representatives that restructures Puerto Rico's debt and blocks debt lawsuits against its government.

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#2

Isn't PROMESA the enemy here? Do I have something wrong? Shoultn't Puerto Rico be able to file for bankruptcy? Do we really trust a bill out of this Republican House?