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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’s nearly five-year bankruptcy battle is ending after a federal judge on Tuesday signed a plan that slashes the U.S. territory’s public debt load as part of a restructuring and ...
The agreement involves more than $17 billion worth of government bonds backed by a sales-and-use tax, with officials saying it will help the government save an average of $456 million a year in ...
Each district also has a United States Marshal who serves the court system. Three territories of the United States — the Virgin Islands, Guam, and the Northern Mariana Islands — have district courts that hear federal cases, including bankruptcy cases. [1] The breakdown of what is in each judicial district is codified in 28 U.S.C. §§ 81–131.
The United States District Court for the Eastern District of Louisiana (in case citations, E.D. La.) is a United States federal court based in New Orleans.. Appeals from the Eastern District of Louisiana are taken to the United States Court of Appeals for the Fifth Circuit (except for patent claims and claims against the U.S. government under the Tucker Act, which are appealed to the Federal ...
The Puerto Rican government-debt crisis was a financial crisis affecting the government of Puerto Rico. [a] The crisis began in 2014 when three major credit agencies downgraded several bond issues by Puerto Rico to "junk status" after the government was unable to demonstrate that it could pay its debt.
A federal judge signed off on a deal that will restructure Puerto Rico's debt.
The insular areas of Guam, the Northern Mariana Islands, and the United States Virgin Islands each have one territorial court; these courts are called "district courts" and exercise the same jurisdiction as district courts, [2] [3] but differ from district courts in that territorial courts are Article IV courts, with judges who serve ten-year ...