NEW YORK, Feb 9 (Reuters) - Puerto Rico should focus efforts on ensuring it has access to Chapter 9 of the U.S. Bankruptcy Code, rather than insisting it has the right to enact a local bankruptcy law, said the island’s representative in Congress, Pedro Pierluisi.
Puerto Rican entities are currently excluded from filing for municipal bankruptcy under Chapter 9 of the U.S. Bankruptcy Code. Pierluisi introduced a bill in July to include Puerto Rico in this code.
“I am sure that, if we go to Congress with a single voice to seek the same treatment that the states receive under Chapter 9, we can achieve this objective,” Pierluisi said in a statement.
Reporting by Megan Davies; Editing by Meredith Mazzilli