Puerto Rico gov’t defaults, halts monthly GO transfers
August 4, 2015
Investors in Puerto Rico debt got double-whammied by the island’s government Monday, which missed a $58 million debt payment as it had predicted it would, and separately told creditors it has temporarily suspended monthly deposits to its General Obligation (GO) bonds redemption fund.
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Groups that sued gov’t over Recovery Act react to ruling
July 8, 2015
The creditors who sued the Puerto Rico government over the legality of the Debt Enforcement and Recovery Act said Tuesday the decision by the U.S. Court of Appeals to uphold a San Juan court’s determination that it was unconstitutional “protects bondholders across the United States.”
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