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The District Court in Puerto Rico continued to be an Article IV court even after Puerto Rico attained its commonwealth status. However, in 1966, the U.S. Congress conferred life tenure on the federal judges of Puerto Rico, transforming the court into a full-fledged Article III district court with the same status as the other United States ...
May 3 (Reuters) - Puerto Rico announced a historic restructuring of its public debt on Wednesday, touching off what may be the biggest bankruptcy ever in the $3.8 trillion U.S. municipal bond market.
Puerto Rico is one step closer to resolving its nearly five-year bankruptcy battle after a federal judge approved a restructuring plan that would reduce the
The government of Puerto Rico and a federal oversight board have agreed on a debt-restructuring plan to end the U.S. territory's bankruptcy, if it is approved
U.S. Court of Appeals and District Court map. In the U.S. federal judicial system, the United States is divided into 94 judicial districts. Each state has at least one judicial district, as do the District of Columbia and Puerto Rico. Each judicial district contains a United States district court with a bankruptcy court under its
However, Puerto Rico’s economy faces challenges such as high public debt, dependence on U.S. fiscal policies, and the features of its geopolitcal location containing many natural disasters. In 1984, Congress explicitly forbade Puerto Rico from declaring bankruptcy under Chapter 9, Title 11, United States Code. [6]
Puerto Rico’s government formally exited bankruptcy Tuesday, completing the largest public debt restructuring in U.S. history after announcing nearly seven years ago that it was unable to pay ...
A U.S. Appeals Court ruled on Friday that members of Puerto Rico's federally created oversight board were unconstitutionally appointed but declined to dismiss the bankruptcy cases the board filed ...