Puerto Rico Bankruptcy?

//Puerto Rico Bankruptcy?

Puerto Rico Bankruptcy?

In a previous post, we talked about various cities, towns and municipalities that have utilized the bankruptcy code to get out of debt. Now Puerto Rico is apparently looking to do the same thing. According to the Wall Street Journal, Puerto Rico spends close to 38% of its general fund budget on debt service with the debt approximating 18.5 billion dollars. Talk about a fresh start. Of course, think of all the current and former government employees who may have their pensions or other benefits adversely affected. Not pretty.

By | 2015-11-04T04:24:40+00:00 November 4th, 2015|Uncategorized|0 Comments

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