Puerto Rico Gets Mixed Reception at U.S. Supreme Court

Puerto Rico got a mixed reception at the U.S. Supreme Court as the justices debated a local law that would let the island’s debt-ridden public utilities restructure their obligations.

Puerto Rico is aiming to revive the law, which directly affects more than $20 billion in utility debt and would give the commonwealth leverage in handling the rest of the $70 billion it owes. A federal appeals court said a U.S. bankruptcy law bars Puerto Rico from setting up its own debt-restructuring system.