Relevant:
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- Puerto Rico requests bankruptcy protection for public debt (LARGEST IN HISTORY)
- Imploded: R-G Premier Bank of Puerto Rico, Hato Rey, Puerto Rico
- Congress Grasps for Puerto Rico Rescue as House's Deadline Nears - Bloomberg Politics
- U.S. Investment Firms Challenge Puerto Rico Restructuring Law
2015-07-09 — foxnews.com
The debate in the U.S. over whether or not to allow Puerto Rico's public agencies to declare bankruptcy has split down party lines, with Republican lawmakers arguing against any legislation that would allow the territory to file for Chapter 9 while Democrats are pushing for it to be allowed to do so...
The Republicans control both houses of Congress and would likely thwart any attempt by Democratic lawmakers to push through the Puerto Rico Chapter 9 Uniformity Act of 2015, which gives Puerto Rico's municipalities access to chapter 9 of the Bankruptcy Code.
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