Subscriber Only
Markets
Puerto Rico’s Bankruptcy Fight Is About to Plunge Into the Unknown
By , , and
Updated on
-
Bondholders push competing claims but island may void them all
-
‘This is a government restructuring, not a court one’
Millstein Says Title III Was Inevitable for Puerto Rico
Dealing with Puerto Rico’s crushing debt has started to resemble a circular firing squad.
Simply put, the bankrupt island can’t pay everything it owes, so creditors are taking aim at each other as they squabble over who will get what’s left. But the debt’s size and the tangled process invented to rescue Puerto Rico mean there’s no established rule book to shape what comes next.
