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BRIEF-Puerto Rico files petition for debt relief in court
May 3, 2017 / 3:47 PM / 5 months ago

BRIEF-Puerto Rico files petition for debt relief in court

May 3 (Reuters) -

PUERTO RICO IS FILING PETITION UNDER TITLE III OF THE PUERTO RICO OVERSIGHT, MANAGEMENT, AND ECONOMIC STABILITY ACT, OR PROMESA--COURT FILING PUERTO RICO FINANCIAL OVERSIGHT AND MANAGEMENT BOARD SAYS PUERTO RICO‘S CRISIS HAS REACHED “BREAKING POINT,” WITH $74 BLN OF PUBLIC SECTOR DEBT -- COURT FILING PETITION WAS FILED WITH A FEDERAL COURT IN PUERTO RICO PUERTO RICO FILES PETITION TO RELIEVE ITS DEBT BURDEN -- FEDERAL COURT FILING BOARD SAYS IT INTENDS TO NEGOTIATE A COMPREHENSIVE DEBT RESTRUCTURING WITH CREDITORS THROUGH A TITLE III “PLAN OF ADJUSTMENT” -- COURT FILING BOARD SAYS TITLE III CASE HAS BECOME THE “BEST PATH” FORWARD AFTER NEGOTIATIONS OUTSIDE THAT PROCESS REACHED AN IMPASSE -- COURT FILING

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