Hints and tips:
...Blockchain is also the foundation for so-called Crypto Rico on Puerto Rico....
...In early April, the company convened its new customer advisory board, composed of guests and business partners, in San Juan, Puerto Rico....
...A board overseeing Puerto Rico's finances reached a deal in February with Autonomy Capital, Aurelius Capital Management, GoldenTree Asset Management and other investors to slash $24bn from its debt burden...
...Financial Oversight and Management Board....
...On the Monday after Maria made landfall, devastating the US territory of Puerto Rico including its electricity network, cash orders from the island were up more than 800 per cent....
...(Nikkei Asian Review) Austerity by Aurelius A lawsuit brought by the hedge fund Aurelius Capital Management against Puerto Rico for repayment of its bonds has turned into a question about the US territory...
...Letter in response to this article: Cofina structure reflects a genuine compromise in Puerto Rico / From Rafael E Rojo, San Juan, Puerto Rico...
...Puerto Rico bonds are the most rewarding bond speculation of the year so far . . . as well as being part of one of the weirdest spectacles in the financial world....
...Federal funding has fallen far short of the sums San Juan asked for, but Mr Portela said its forecast includes an expected $35.3bn in public assistance from the Federal Emergency Management Agency and $13.2bn...
...“It was hard to find food and water,” says Ms Diaz, a resident of Corozal, a municipality 20 miles from the capital San Juan. “We waited for four hours for gas. The kids don’t have school.”...
...A financial oversight board established by Congress last year to oversee the island’s restructuring approved up to $1bn in changes to the Puerto Rican budget to pay for relief efforts....
...Also, over the past couple of months, they have been surprised to find that Puerto Rico’s newly elected governor and the new federal Financial Oversight and Management Board agree on imposing deep haircuts...
...The failure of the island’s negotiations with creditors prompted a federal oversight board to file on Wednesday for a so-called Title III proceeding in the US district court in San Juan....
...The trip comes after Mr Trump angered Puerto Ricans at the weekend when he used Twitter to criticise the mayor of San Juan, Carmen Yulín Cruz, for issuing a plea for help....
...As part of the Puerto Rico Oversight, Management and Economic Stability Act (Promesa, Spanish for promise), which was signed into law in June, Puerto Rico will have the ability to cut its debts....
...The Cofina holders — including GoldenTree Asset Management and Merced Capital — have sided with a seven-member control board appointed by President Barack Obama, which has asked for a stay of litigation...
...The move was seen as a quick fix for the Commonwealth’s Treasury and public agencies to protect themselves from the Government Development Bank for Puerto Rico (GDB) being declared insolvent, a person familiar...
...The oversight board would be disbanded once Puerto Rico regained access to capital markets and after at least four years when its expenses did not outpace revenues....
...Mr Weiss reiterated the Obama administration’s view that Congress should pair a restructuring authority with an oversight board, warning that the island faced creditor holdouts that could sue Puerto Rico...
...The intention of the law was for Puerto Rico to be given temporary protection from legal sanctions by creditors so it could restructure its obligations in an orderly way, and to maintain essential services...
...The board would be based in Washington and San Juan and act as an entity within the government of Puerto Rico, made up of individuals appointed by President Barack Obama....
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