Treasury Official Urges Quick Action on Puerto Rico Rescue
Antonio Weiss, the counselor to the Treasury secretary, told lawmakers “everybody loses” if Congress fails to intervene and Puerto Rico…
Puerto Rico Aims to Appease Congress With New Debt Proposal
The plan would cover $49.3 billion of Puerto Rico’s $72 billion debt, most of which is in the form of…
Puerto Rico Rescue Bill Nears Completion in House Committee
Staff aides worked through a spring recess, hoping to get a bill on the House floor by Thursday.
Puerto Rico Passes Bill Allowing Halt to Debt Payments
No starting date was given for a moratorium on payments, but a $422 million payment is due May 1. The…
Puerto Rico Senate Votes to Halt Payments on $72 Billion Debt
The island’s Senate authorized a declaration of emergency and debt moratorium. Its House of Representatives is still debating such a…
Hedge Funds Sue to Freeze Puerto Rico Bank’s Assets
The group of funds, which own bonds on the island, based part of their suit on a confidential report that…
Latest Plan to Rescue Puerto Rico Is Met With Disdain on Island
The plan calls for putting Puerto Rico’s finances under a presidentially appointed oversight board — a bitter pill to many…
Federal Judge in Puerto Rico Calls Walmart Tax Unlawful
A federal court throws out the island’s new tax, saying a financial crisis is no reason to demand revenue it…
Plan to Rescue Puerto Rico Advances, Led by House Republicans
The plan falls short of permission for the island to restructure its $72 billion debt, and would involve close federal…
Puerto Rico Fights for Chapter 9 Bankruptcy in Supreme Court
In court on Tuesday, Puerto Rico argued that its exclusion from Chapter 9 leaves the island with few options to…