WASHINGTON — José Raúl Perales, a Santurce-born regional trade expert who spent years advising the Puerto Rican government — and later the U.S. private sector and the Department of Homeland Security — says bankruptcy protection and tax breaks alone won’t help the island regain its long-term competitiveness against global rivals.
Bankruptcy filings were up 5 percent year-over-year in December 2015, when the number of Chapter 11 cases on record soared by 385 percent when compared to the same month last year, according to preliminary figures released Monday by research firm Boletín de Puerto Rico.
Bankruptcy filings soared by 23 percent in November, when a total of 950 cases were filed, in comparison to the same month last year, according to preliminary figures released by research firm Boletín de Puerto Rico Thursday.
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