2021 brought many challenges and achievements for Puerto Rico. Our Board members wrote a series of Op-Eds to address concerns about the Commonwealth’s Plan of Adjustment, the economy and the future of the Island. If you missed them, here are the Op-Eds that summarize the main issues of 2021.
Arthur Gonzalez – Debt Report
In the nearly 17 years I served as a bankruptcy judge, I presided over many complex insolvencies, including Enron and WorldCom, which were the largest U.S. bankruptcy cases at the time.
David Skeel – Right Deal for PR Rests
in Four Principles
Before the COVID-19 crisis hit last March, the Financial Oversight and Management Board for Puerto Rico, which is tasked with resolving the largest municipal bankruptcy in U.S. history and helping Puerto Rico achieve fiscal responsibility, had filed a proposed plan of adjustment.
David Skeel – The Myth of the FOMB’s Longevity
So, let’s start by getting the basic facts straight. Under Promesa, the Oversight Board will stay in place until two requirements are met: Puerto Rico needs to regain access to the credit markets “at reasonable interest rates”.
El Nuevo Día | Tuesday, August 24, 2021
John Nixon– After Bankruptcy’s End,
It’s Time For Puerto Rico To Grow
This year, Puerto Rico has taken significant steps to restructure a big part of the debt that wasn’t already restructured. The proposed Plan of Adjustment that cuts the claims against the Commonwealth by 80% is now in the hands of the court.
FOMB | Friday, December 17, 2021
Antonio Medina– A Bright New Chapter
In Puerto Rico’s History
For the first time in decades, Puerto Rico will have a clean slate and will be positioned for a new period of prosperity – because of the implementation of the Plan of Adjustment and the end of bankruptcy.
FOMB | Saturday, November 20, 2021