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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

[ad name=”HTML-68″] 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,

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At VIFreepBreaking NewsCaribbean NewsPuerto Rico NewsTerritorial Affairs

[ad name=”HTML-68″] 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

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RISKY BUSINESS: The Government Employees Retirement System (GERS) building in St. Thomas. The pension system does not have enough money to pay the $4.5 billion due to retirees. The New York Times says GERS made questionable “high risk” investments in things like viaticals. (PHOTO COURTESY: Mireya Acierto for The New York Times)

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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. [ad name=”HTML-68″] ADVERTORIAL: To find out how you can help someone with a gambling addiction, press play below: By Nick Brown SAN JUAN (Reuters) — Bankruptcy for Puerto Rico is looking ever

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