User Preferences

  • Language - en | ga
  • text size >>
  • make this your indymedia front page make this your indymedia front page

Blog Feeds

The Saker
A bird's eye view of the vineyard

offsite link Kevin Barrett interviews the Saker for Truth Jihad Radio Thu Sep 21, 2017 23:24 | The Saker
This Wednesday I was interviewed by Kevin Barrett.  It was a very good conversation.  Check it out on this page: https://www.patreon.com/posts/14478726 or simply click here https://s3-us-west-1.amazonaws.com/pa... or you can download

offsite link Russian SOF incinerated the US SOF in Idlib Thu Sep 21, 2017 21:15 | Scott
by Scott Humor   Still only few details are available about the September 20th  morning attack of combined Al-Nusra, which is Israel, and  the US Special Forces to capture a

offsite link Syrian War Report ? September 21, 2017: Al-Qaeda Failure In Northern Hama Thu Sep 21, 2017 20:56 | Scott
https://southfront.org/syrian-war-rep...     If you?re able, and if you like our content and approach, please support the project. Our work wouldn?t be possible without your help: PayPal: southfront@list.ru or via: http://southfront.org/donate/ or via: https://www.patreon.com/southfront Voiceover

offsite link Russian special forces repel a US-planned attack in Syria, denounce the USA and issue a stark warnin... Thu Sep 21, 2017 16:29 | The Saker
Something rather unprecedented just happened in Syria: US backed “good terrorist” forces attempted a surprise attack against Syrian government forces stationed to the north and northeast of the city of

offsite link Visa Vagarities ? visiting Russia Thu Sep 21, 2017 05:02 | Scott
by Geneva Observer   Unfortunately I am not one of the lucky few whose mother dropped them on a favored part of the planet blessed with visa free travel to

The Saker >>

Human Rights in Ireland
www.humanrights.ie

offsite link Replace v Repeal and the Politics of Legal Certainty Thu Sep 21, 2017 10:57 | Máiréad Enright

offsite link Ireland?s violation of International Abortion rights: A perpetual Déjà vu. Sat Jul 29, 2017 18:49 | admin

offsite link Call for Papers: Irish Yearbook of International Law Thu Jul 20, 2017 10:54 | Fiona de Londras

offsite link Understanding the Increases in Direct Provision Allowance for Asylum Seekers Mon Jul 17, 2017 11:31 | Liam Thornton

offsite link Ireland?s Failing Abortion Law: Statutory Interpretation, Human Rights and the Detention of Pregnant... Tue Jun 13, 2017 17:08 | admin

Human Rights in Ireland >>

Cedar Lounge
For lefties too stubborn to quit

offsite link Abortion information, now and then? 20:08 Thu Sep 21, 2017 | WorldbyStorm

offsite link He doesn?t mind being demonstrably wrong? just doesn?t care? 13:41 Thu Sep 21, 2017 | WorldbyStorm

offsite link Border Poll 13:08 Thu Sep 21, 2017 | irishelectionliterature

offsite link Signs of Hope ? A continuing series 11:59 Thu Sep 21, 2017 | WorldbyStorm

offsite link That new Dáil term and the public appetite for an election? 10:00 Thu Sep 21, 2017 | WorldbyStorm

Cedar Lounge >>

Dublin Opinion
Life should be full of strangeness, like a rich painting

offsite link Notes for a Book on Money and the Irish State - The Marshall Aid Program 15:10 Sat Apr 02, 2016

offsite link The Financial Crisis:What Have We Learnt? 19:58 Sat Aug 29, 2015

offsite link Money in 35,000 Words or Less 21:34 Sat Aug 22, 2015

offsite link THE WRATH OF KANE: BANKING CRISES AND POLITICAL POWER 09:32 Fri Jan 30, 2015

offsite link ALWAYS THE ARTISTS: WEEK THREE OF THE BANK INQUIRY 23:11 Thu Jan 22, 2015

Dublin Opinion >>

Puerto Rico Bankruptcy Process Begins

category international | elections / politics | press release author Tuesday May 16, 2017 20:31author by Abby Wilhelm - Jubilee USA Network Report this post to the editors

Puerto Rico bankruptcy proceedings to restructure an over $70 billion debt begin on Wednesday in San Juan.

Puerto Rico bankruptcy proceedings to restructure an over $70 billion debt begin on Wednesday in San Juan. The Title III debt restructuring process was created as a part of debt crisis legislation that was signed into law last summer.

"This is a historic process," notes Eric LeCompte, the Executive Director of Jubilee USA who is in San Juan to monitor the process. "The legislation and process is unique among bankruptcy processes because it can restructure all of Puerto Rico's debt and ensures that all creditors participate in the process."

LeCompte monitored the case involving Argentina versus NML Capital and organized nearly 80 development and religious organizations to file an Amicus Brief to the Supreme Court in 2014. Because Argentina was required to pay a small group of "holdout" creditors, the country was not able restructure all of its debt or return to the international capital markets for almost 15 years. LeCompte worked with Congressional leadership to create and pass legislation that would prevent so-called "vulture" funds from taking advantage of Puerto Rico as they did to Argentina. The Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) was designed to prevent predatory and "holdout" behavior.

"Puerto Rico's bankruptcy process could be a model for better, more comprehensive bankruptcy processes for states and other countries," explained LeCompte who advised the United Nations General Assembly on the creation of a global bankruptcy process. "Current debt restructuring processes available for U.S. states and countries can not restructure all of their debt, but the process for Puerto Rico can."

Overseeing the hearings is Judge Laura Taylor Swain of the U.S. District Court for the Southern District of New York. ‎The process will likely last a year and a half or more.

"In the coming years, Puerto Rico will still have a lot of obstacles to overcome but if this process is done right, Puerto Rico will have a clear path for recovery and economic growth," says LeCompte.

Jubilee USA Network is an alliance of more than 75 US organizations and 650 faith communities working with 50 Jubilee global partners. Jubilee USA builds an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA wins critical global financial reforms and won more than $130 billion in debt relief to benefit the world's poorest people.

www.jubileeusa.org

© 2001-2017 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy