Marchers blamed Governor Ricardo Rossello for agreeing to cuts to education, health, social security and other public services with the USA federal control board overseeing the island.
"If Congress acting under Article I powers were to amend the bankruptcy code to allow either voluntary or involuntary debt adjustment for USA states, very serious questions would be raised about unconstitutionality", wrote Fordham University School of Law Professor Andrew Kent in a April 20, 2016 letter to the congressional committee that drafted Puerto Rico's oversight law.
The talks broke down as a litigation freeze expired at midnight Monday, prompting creditors to file new lawsuits in an attempt to recuperate their multimillion-dollar investments in Puerto Rico bonds.
Puerto Rico's massive pension debts will also likely get restructured in the bankruptcy.
"For months, the Oversight Board has made every effort to sabotage consensual negotiations, to flout the requirements of PROMESA and Puerto Rico's constitution, and to force Puerto Rico into bankruptcy", the statement continued.
Puerto Rico has reached one consensual settlement with creditors, a $9 billion deal covering its public electricity monopoly that Gov. Rosselló recently renegotiated to mitigate politically unpopular fee increases on residents. The financial collapse promises to impose deep losses on bondholders who for years snapped up Puerto Rico's securities in the hope a bankruptcy wasn't a legal option for Puerto Rico. The chief justice of the U.S. Supreme Court is expected to appoint a judge to oversee Puerto Rico's case, the largest of its kind in U.S. history.
Predators taking on Blues in Game 4 in Nashville
But as we saw last night in the Ducks/Oilers game 3, a team can drop both home games and respond on the road. Nashville goalie Pekka Rinne finished with 22 saves, including a flurry of stops to preserve the win.
Puerto Rico announced a historic restructuring of its public debt on Wednesday, touching off what may be the biggest bankruptcy ever in the $3.8 trillion USA municipal bond market.
Detroit's case occurred under Chapter 9 of the U.S. Bankruptcy Code, which is reserved for state and local governments. The people of Puerto Rico have had enough.
Puerto Rico estimates it has about $800 million a year available for debt servicing, far below the $3.2 billion now required.
CNN wants to hear from you: Do you live in Puerto Rico? "It was the long-standing absence of a legal path for restructuring its debt that contributed to this". Its economy has withered, its debt has mounted, and the unemployment rate has settled into double digits. The treasury withheld tax refunds. Detroit owed $18 billion when it filed for bankruptcy in 2013.
The rescue plan involving the oversight board was fraught with politics as it wound its way through Congress previous year.
On the campaign trail, Donald Trump said he would not "bail out" Puerto Rico. As Jeff Mazzella, the group's president, sees it, the oversight board's action "will allow Puerto Rico to rob millions of American retirees and savers who invested in Puerto Rico bonds". He said he did not yet have details on the breakdown of those debts.
Chief Minister Mehbooba Mufti on Saturday reiterated her stand of initiating the dialogue process to restore peace in Kashmir. Charak on the lack of development in Jammu , the chief minister said that a tense situation in Kashmir affected Jammu as well.
Neymar is unveiled as a Barcelona player by then-club president Sandro Rosell after signing a five-year contract in June 2013. Neymar's career has skyrocketed at Barcelona , where he has excelled on the pitch alongside Lionel Messi and Luis Suarez.
Striker Defoe, 34, who has blasted 14 goals for the relegated Wearsiders' this season, is contracted to the club until June 2019. Maybe by the time we are safe, someone else will have already done who is safe and who knows.
The "Bhaag Milkha Bhaag" scriptwriter says Kangana's "streak of a rebel" will help her connect with the role of Rani Laxmibai. She unveiled it with the famous Ganga aarti, which was performed by the actress and the team at the Dashashwamedh Ghat .
Officials have selected the intersection between habits and mental health as the focus of this year's Mental Health Month. Great Lakes Recovery Centers (GLRC) will be hosting two free Mental Health First Aid classes in May.
The English rock band formed in 1968, however, the death of former drummer Jason Bonham in 1980 led to their disbandment. The rumors reportedly stirred with a cryptic update to Led Zeppelin singer Robert Plant's official website .
Union Home Minister Rajnath Singh chairs a meeting with CMs of left wing extremism-hit states and other ministers in Delhi. He also mentioned that the Centre has deployed 118 battalions of paramilitary forces to assist states in fighting Maoists.
But it also seemed like an very bad lot of fuss to go through for what was a pretty good, but not transcendent, joke. Rocket (Bradley Cooper), being the felonious raccoon that he is, steals the batteries at the end of the gig.
Their sales, claim Ramdev, stood at Rs 1,467 crore, Rs 940 crore, Rs 825 core and Rs 574 crore , respectively, in the last fiscal. Ramdev added that multinational companies would be forced to do a double take on hearing Patanjali's success story.
However, there was a gulf between the sides this time round as Ronaldo's 10th minute header opened the scoring. We produced a great display and it was far from easy to go out and score three goals tonight (Tuesday night).
Eddie Hearn, Joshua's promoter, then downplayed any suggestion that the bout would take place any time soon. Fury has sparred with Joshua in the past and added: "I always said Wladimir would be my easiest fight".
Bendjima was born in Algeria and grew up working in his father's restaurant , training as a boxer in his spare time. Kourtney Kardashian and Scott Disick were involved in a romance until he was seen with another woman in July 2015.
New Blade Runner 2049 Trailer Tease Strikes an Iconic Pose
The film is directed by Denis Villeneuve ( Arrival , Prisoners , Sicario ) and written by Hampton Fancher and Michael Green. Upon discovery, he sets out the search for Rick Deckard, played by Harrison Ford, who has been AWOL for three decades.
India to participate in Champions Trophy
The COA had prevailed over the members on the need to select the squad for the tournament without prejudice to the BCCI. Meanwhile, the selection committee of the BCCI is all set to meet in Delhi on Monday.
After Kapil's ouster, Vishwas hints at more rebellion in AAP
All the agencies at the Centre's disposal have been unleashed against Aam Aadmi Party, its government in Delhi and its ministers. On Saturday, Mishra had claimed he would name a few faces within AAP who were allegedly involved in the water tanker scam.
National Day of Prayer
More than 100 people attended last year's observance. "May we not strive to have more than we need", he prayed. The National Day of Prayer and Bible Marathon will be at the Blount Historic Courthouse at noon.