Chapter 9 of the United States Bankruptcy Code, long considered a rare vehicle of last resort for eligible government entities, has recently become an increasingly prominent consideration as a method to relieve crippling financial bond obligations.
Floating Ashore: An Overview of Puerto Rico's Financial Crisis and Potential Restructuring Alternatives
For the Commonwealth of Puerto Rico, as a territory of the United States, relief under Chapter 9 is not an option for solving its staggering $70 billion debt and estimated $850 million deficit for the 2014 fiscal year. Here's why.
By
Steven B. Smith and Evan J. ZuckerThis premium content is locked for The Bankruptcy Strategist subscribers only
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