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Puerto Rico should focus efforts on Chapter 9 in Congress -Pierluisi
February 9, 2015 / 6:42 PM / 3 years ago

Puerto Rico should focus efforts on Chapter 9 in Congress -Pierluisi

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

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