The executive director of Puerto Rico's federally created financial oversig...
SAN JUAN - The executive director of Puerto Rico’s federally created financial oversight board said on Monday that a plan to restructure the U.S. commonwealth’s core government debt likely cannot be done by the end of April.
But on Monday, the oversight board’s executive director, Natalie Jaresko, said the attorney meant to say that the plan could be filed with the court “at best” in April. “We’re trying not to do a cramdown, but I don’t know where that’s going to end up in the end,” Jaresko said, referring to a process where an adjustment plan could be imposed on certain creditors.
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