Monday, September 7, 2015

A PUERTO RICO CONTROL BOARD....?

THE BOND BUYER


Puerto Rico Control Board Discussion Simmers in Congress

by Jack Casey
Sept 6, 2015
"One source familiar with Puerto Rico discussions said that draft legislation is being floated to create a federal control board that would be charged with overseeing the commonwealth's finances. If introduced, that legislation would join two currently stagnant bills sponsored by Democrats that would extend Chapter 9 bankruptcy authority to Puerto Rico's municipalities."

MORE: http://www.bondbuyer.com/news/washington-budget-finance/lobbying-on-puerto-rico-bankruptcy-bill-more-than-doubles-in-2q-1081821-1.html

MORE:

Coalition of PR Bondholders Will Push for Financial Control Board

By Lynn Hume
Aug 27, 2015
"The 60 Plus Association announced on Thursday that it is forming a coalition of small holders of Puerto Rico bonds that will push for the creation of a financial control board and oppose bankruptcy legislation for the territory."

MORE: http://www.bondbuyer.com/news/washington-budget-finance/coalition-of-pr-bondholders-will-push-for-financial-control-board-1083137-1.html

Lobbying on Puerto Rico Bankruptcy Bill More Than Doubles in 2Q

by Jack Casey
Aug 12, 2015
"Firms and groups spent about $490,000 lobbying either for or against the legislation in the second quarter, compared to $210,000 in the first quarter, according to opensecrets.com, lobbying documents filed with Congress and interviews. An identical companion bill was introduced in the Senate on July 15 by Sens. Chuck Schumer, D-N.Y., and Richard Blumenthal, D-Conn., after the second quarter reporting period for lobbyists ended on June 30".