Puerto Rico Extends Legal, Advisory Contacts After Debt Default

  • Cleary Gottlieb set to earn $2 million in one-year agreement
  • Millstein to get as much as $1.2 million in one-month contract

Puerto Rico extended contracts worth $3.2 million with outside restructuring firms as the commonwealth defaulted on nearly $1 billion of principal and interest on July 1 and federal lawmakers passed legislation to oversee the island’s finances.

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