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PROMESA

At VIFreepBreaking NewsBusiness NewsPuerto Rico NewsTerritorial Affairs

PROMESA BOARD: Is being sued by some of the biggest unions in America. [ad name=”HTML-68″] SAN JUAN — American Federation of State, County & Municipal Employees (AFSCME), AFL-CIO filed with the U.S. Bankruptcy Court an adversary complaint against the Financial Oversight and Management Board for Puerto Rico; the Commonwealth of

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At VIFreepBreaking NewsBusiness NewsCaribbean NewsPuerto Rico NewsTerritorial Affairs

SAN JUAN — A federal control board overseeing Puerto Rico’s crisis-wracked finances announced Friday that it will impose furloughs for the first time in the U.S. commonwealth’s history. Furloughs of up to two days a month will start Sept. 1 and apply to all government employees except police, said Natalie

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At VIFreepBreaking NewsCaribbean NewsPuerto Rico NewsTerritorial Affairs

SAN JUAN — Puerto Rico’s financial oversight board voted today to allow the PREPA power utility to restructure its $9 billion debt load through a form of bankruptcy, potentially heralding a messy end to three years of arduous out-of-court talks. The seven-member board unanimously authorized a bankruptcy filing at a

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CHARLOTTE AMALIE — The United States Virgin Islands is best known for its powdery beaches and turquoise bays, a constant draw for the tourists who frequent this tiny American territory. Yet away from the beaches the mood is ominous, as government officials scramble to stave off the same kind of

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At VIFreepBreaking NewsBusiness NewsCaribbean NewsPuerto Rico NewsTerritorial Affairs

GOV. RICKY ROSSELLO: Doesn’t want to go down in history as the chief executive who presided over Puerto Rico bankruptcy. By Nick Brown SAN JUAN (Reuters) — Bankruptcy for Puerto Rico is looking ever more likely as the clock ticks down toward a May 1 deadline to restructure $70 billion in debt,

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