New Events

International

no events posted in last week

Blog Feeds

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

Public Inquiry >>

Human Rights in Ireland
Promoting Human Rights in Ireland

Human Rights in Ireland >>

Lockdown Skeptics

The Daily Sceptic

offsite link Reeves in Tears as Starmer Refuses to Guarantee She Will Stay in Job Wed Jul 02, 2025 13:01 | Will Jones
Chancellor Rachel Reeves was visibly in tears during Prime Minister's Questions today as Sir Keir Starmer refused to guarantee she would remain in role following last night's welfare reform humiliation.
The post Reeves in Tears as Starmer Refuses to Guarantee She Will Stay in Job appeared first on The Daily Sceptic.

offsite link The Case for Prosecuting Bob Vylan for Hate Speech Wed Jul 02, 2025 11:14 | Laura Perrins
As defenders of free speech we resent Britain's draconian hate speech laws. But until they're repealed they should be applied impartially ? and that means prosecuting antisemitic rappers too, says Laura Perrins.
The post The Case for Prosecuting Bob Vylan for Hate Speech appeared first on The Daily Sceptic.

offsite link BBC Complaints Director Takes Six-Month Sabbatical to Learn How to Promote ?Climate Crisis? Wed Jul 02, 2025 09:00 | Chris Morrison
The BBC's Complaints Director, Colin Tregear, has taken a six-month sabbatical to learn how to promote the 'climate crisis' ? courtesy of the green grooming course run by the Oxford Climate Journalism Network.
The post BBC Complaints Director Takes Six-Month Sabbatical to Learn How to Promote ‘Climate Crisis’ appeared first on The Daily Sceptic.

offsite link Why is Skeptical Inquirer Never Sceptical About Climate Change? Wed Jul 02, 2025 07:00 | Steven Tucker
US popular science magazine Skeptical Inquirer prides itself on putting science before dogma. Why then is it fully signed up to the regime consensus on Magical CO2 and its super-heating properties, asks Steven Tucker.
The post Why is Skeptical Inquirer Never Sceptical About Climate Change? appeared first on The Daily Sceptic.

offsite link News Round-Up Wed Jul 02, 2025 01:09 | 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.

Lockdown Skeptics >>

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

© 2001-2025 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy