Puerto Rico debt battle heads to federal court
Puerto Rico owes bondholders more than $70 billion, and it’s going to court to try to get its debts rescheduled. On Monday, a stay on lawsuits against Puerto Rico’s government expired, so bondholders sued. The island’s governor announced yesterday it was seeking court protection under Title III of the PROMESA Act, a bill passed last year that appointed a financial oversight board and was designed to get Puerto Rico out of debt.
Click the audio player above to hear the full story.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
