The financial oversight board overseeing Puerto Rico’s bankruptcy won court approval to send its debt-cutting proposal to creditors for a vote, setting up a months-long debate with island lawmakers who oppose the plan.
- U.S. District Court Judge
Laura Taylor Swainoverruled the handful of remaining objections to a disclosure statement that creditors will receive in order to help them decide how to vote
- The biggest issue hanging over the vote is whether island lawmakers will pass new legislation backing billions of dollars in new bonds needed to refinance commonwealth debt
- Elected officials have said they won’t authorize new bonds without ...