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Public Inquiry
Interested in maladministration. Estd. 2005

offsite link RTEs Sarah McInerney ? Fianna Fail?supporter? Anthony

offsite link Joe Duffy is dishonest and untrustworthy Anthony

offsite link Robert Watt complaint: Time for decision by SIPO Anthony

offsite link RTE in breach of its own editorial principles Anthony

offsite link Waiting for SIPO Anthony

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Human Rights in Ireland
Promoting Human Rights in Ireland

Human Rights in Ireland >>

Lockdown Skeptics

The Daily Sceptic

offsite link The Emergence of the National Dealth Service Thu Jul 03, 2025 07:00 | James Alexander
In an age in which the Government is threatening to pay more for death-by-medicine than for life-by-medicine, the National Health Service should be renamed the National Dealth Service, says Professor James Alexander.
The post The Emergence of the National Dealth Service appeared first on The Daily Sceptic.

offsite link News Round-Up Thu Jul 03, 2025 01:28 | Richard Eldred
A summary of the most interesting stories in the past 24 hours that challenge the prevailing orthodoxy about the ?climate emergency?, public health ?crises? and the supposed moral defects of Western civilisation.
The post News Round-Up appeared first on The Daily Sceptic.

offsite link Jaguar?s Sales Crash 98% After Woke Rebrand Wed Jul 02, 2025 19:00 | Will Jones
Jaguar's sales have plummeted by 98% after a woke rebrand that left customers stunned ? though the company claims the rebrand has "nothing to do" with falling sales.
The post Jaguar’s Sales Crash 98% After Woke Rebrand appeared first on The Daily Sceptic.

offsite link Christian Artist Reported to Police and Banned From Own Exhibition Over Gender-Critical Views Wed Jul 02, 2025 17:00 | Will Jones
Christian artist Victoria Culf was reported to the police and banned from her own exhibition because of her gender-critical beliefs in the latest example of free speech in peril in Britain.
The post Christian Artist Reported to Police and Banned From Own Exhibition Over Gender-Critical Views appeared first on The Daily Sceptic.

offsite link The Human Cost of Starmer?s Welfare U-Turn Wed Jul 02, 2025 15:00 | Mary Gilleece
Thousands of young people are being paid by the state on condition of remaining 'incapable' of working. It's a tragic, expensive mess ? and now they've been betrayed by Keir Starmer once again, says Mary Gilleece.
The post The Human Cost of Starmer’s Welfare U-Turn appeared first on The Daily Sceptic.

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Voltaire Network
Voltaire, international edition

offsite link Will intergovernmental institutions withstand the end of the "American Empire"?,... Sat Apr 05, 2025 07:15 | en

offsite link Voltaire, International Newsletter N?127 Sat Apr 05, 2025 06:38 | en

offsite link Disintegration of Western democracy begins in France Sat Apr 05, 2025 06:00 | en

offsite link Voltaire, International Newsletter N?126 Fri Mar 28, 2025 11:39 | en

offsite link The International Conference on Combating Anti-Semitism by Amichai Chikli and Na... Fri Mar 28, 2025 11:31 | en

Voltaire Network >>

Puerto Rico Bankruptcy Process Begins

category international | politics / elections | press release author Tuesday May 16, 2017 20:31author by Abby Wilhelm - Jubilee USA Network Report this post to the editors

Puerto Rico bankruptcy proceedings to restructure an over $70 billion debt begin on Wednesday in San Juan.

Puerto Rico bankruptcy proceedings to restructure an over $70 billion debt begin on Wednesday in San Juan. The Title III debt restructuring process was created as a part of debt crisis legislation that was signed into law last summer.

"This is a historic process," notes Eric LeCompte, the Executive Director of Jubilee USA who is in San Juan to monitor the process. "The legislation and process is unique among bankruptcy processes because it can restructure all of Puerto Rico's debt and ensures that all creditors participate in the process."

LeCompte monitored the case involving Argentina versus NML Capital and organized nearly 80 development and religious organizations to file an Amicus Brief to the Supreme Court in 2014. Because Argentina was required to pay a small group of "holdout" creditors, the country was not able restructure all of its debt or return to the international capital markets for almost 15 years. LeCompte worked with Congressional leadership to create and pass legislation that would prevent so-called "vulture" funds from taking advantage of Puerto Rico as they did to Argentina. The Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) was designed to prevent predatory and "holdout" behavior.

"Puerto Rico's bankruptcy process could be a model for better, more comprehensive bankruptcy processes for states and other countries," explained LeCompte who advised the United Nations General Assembly on the creation of a global bankruptcy process. "Current debt restructuring processes available for U.S. states and countries can not restructure all of their debt, but the process for Puerto Rico can."

Overseeing the hearings is Judge Laura Taylor Swain of the U.S. District Court for the Southern District of New York. ‎The process will likely last a year and a half or more.

"In the coming years, Puerto Rico will still have a lot of obstacles to overcome but if this process is done right, Puerto Rico will have a clear path for recovery and economic growth," says LeCompte.

Jubilee USA Network is an alliance of more than 75 US organizations and 650 faith communities working with 50 Jubilee global partners. Jubilee USA builds an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA wins critical global financial reforms and won more than $130 billion in debt relief to benefit the world's poorest people.

www.jubileeusa.org

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