Relevant:
- U.S. Investment Firms Challenge Puerto Rico Restructuring Law
- Imploded: Westernbank Puerto Rico, Mayaguez, Puerto Rico
- Imploded: R-G Premier Bank of Puerto Rico, Hato Rey, Puerto Rico
- Puerto Rican bankruptcy debate divides U.S. politicians down party lines
- Treasury's Lew To Congress "Rescue Puerto Rico" Or Face "Cascading Defaults"
2013-10-26 — businessinsider.com
Should Puerto Rico seek to restructure its debts, it would be entering uncharted legal terrain. Unlike a city it cannot declare bankruptcy. It does not enjoy the same sovereignty the constitution grants the states; should it try to renege on its debts, Congress might intervene. Years of litigation would follow.
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