ARTHUR J. GONZALEZ DESIGNATED CHAIR OF THE OVERSIGHT BOARD
Gonzalez to serve initially until Appointment Process of Oversight Board Members is Completed; Was First Appointed in 2016
San Juan, PR – July 22, 2024 – The members of the Financial Oversight and Management Board for Puerto Rico designated Judge Arthur J. Gonzalez as chair on an interim basis. The Oversight Board will designate a permanent chair when the appointments of all members are complete and effective.
“Our mission at the Oversight Board is to help Puerto Rico stand on its own again,” Gonzalez said. “Continuing our effort to complete PREPA’s bankruptcy and reduce the debt burden on Puerto Rico and its economy is one of our primary tasks. But restructuring the debt is only one step to a better future for Puerto Rico.”
“Puerto Rico must become more competitive to ensure a better future. Education, healthcare, and economic development are essential to build the economic foundation that enables Puerto Ricans to see their future here in Puerto Rico. The Oversight Board will continue to work with the Government and the people to make sure Puerto Rico will not fall back into the stranglehold of oppressive debt,” said Gonzalez.
Gonzalez’ designation as chair follows the departure of David Skeel, who decided not to stand for a third term as board member. His seat on the board is filled by Luis A. Ubiñas, whose appointment by President Joseph Biden is now effective.
Gonzalez is a Senior Fellow at the New York University School of Law. Gonzalez served on the United States Bankruptcy Court for the Southern District of New York from 1995 to 2012, retiring as Chief Judge. During his tenure, Judge Gonzalez presided over many large complex corporate reorganizations, including the Enron, WorldCom and Chrysler cases. He was first appointed to the Oversight Board at its inception in 2016 and continues to serve.
Oversight Board members serve without pay.