The plaintiff’s attorneys argue that more than 1,000 people could be eligible to join the proposed class. #NewsismyBusiness
Puerto Rico remains a significant outlier; its 59% liabilities-to-GDP ratio is nearly double that of any other state. #NewsismyBusiness
Recent debt data for Puerto Rico indicates that local consumers are likely to take on additional debt this holiday season. #NewsismyBusiness
Credit card debt and inflation are pushing more people in the U.S. and Puerto Rico into financial stress. #NewsismyBusiness
A LiveCareer survey reveals widespread financial anxiety and concerns over lifestyle changes. #NewsismyBusiness
So far this year, 3,710 petitions have been filed at the U.S. Bankruptcy Court, representing a 33.9% jump when compared to the same period last year. #NewsismyBusiness
The U.S.-based clean energy think tank warns a potential $2.5 billion bond issue for PREPA could significantly impact the financial burden on households. #Newsismybusiness
In July 2017, the Oversight Board rejected a debt agreement for PREPA, explaining that the deal was not in the best interests of Puerto Rico. #NewsismyBusiness
The company secured a new 10-year $82 million mortgage provided by Banco Popular de Puerto Rico. #NewsismyBusiness
A careful review of the 400 pages of explanation and the 96-page plan confirm why this plan is unsustainable.
The debt is related to loans that the CRIM was granted in 2001 and 2002.
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