A long-awaited plan to restructure Puerto Rico's core government debt will ...
SAN JUAN - A long-awaited plan to restructure Puerto Rico’s core government debt will finally be filed in court later this month, an attorney for the bankrupt U.S. commonwealth’s federally created financial oversight board told a federal judge on Wednesday.
He said while the board expected to file a plan in August, it held off because “it would have jammed” the new governor, who took office on Aug. 7. Bienenstock said “the relationship between the new government and the oversight board is positive.” Vazquez, who had been Puerto Rico’s justice secretary, has been meeting with oversight board officials. Her predecessor, Rossello, had been at odds with the board over spending priorities and other matters, including proposed pension cuts.
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