Patrick Darby Comments on Puerto Rico’s Debt Crisis in Law360
A federal judge recently struck down a local restructuring law, which allowed Puerto Rico’s indebted public corporations to squeeze their offshore creditors. A recent Law360 article cites “lopsided balance sheets, a shrinking revenue base, and sluggish economic growth” as the commonwealth’s current fiscal challenges, adding “those state instrumentalities desperately need to restructure but are prohibited from seeking debt relief under the U.S. Bankruptcy Code.”
Law360 spoke with BABC Bankruptcy Attorney Patrick Darby for his insight on the commonwealth’s effort to avert financial disaster.
Read the complete Law360 article, "Death Of Debt Law Divides Puerto Rico Investors."