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The Saker
A bird's eye view of the vineyard

offsite link Putin?s answers a US journalist on the Ukraine Sun Oct 22, 2017 18:58 | The Saker
Thanks to Eugenia for translating and subtitling this interesting exchange! (please give the player a few seconds to load) UPDATE: I know that some have problems loading this video –

offsite link The Ben Stimson Case: Prosecuted For Fighting Fascism in Ukraine Sun Oct 22, 2017 15:38 | The Saker
by Christopher Black for the Near Eastern Outlook On July 14 this year a British man from the Manchester area named Benjamin Stimson, aged 41, a man the London Times

offsite link Catalonia and the rest of us Sun Oct 22, 2017 05:10 | The Saker
by Robert Scarcia This article follows a heartfelt email message regarding the political developments in Catalonia, which I sent both the Saker and Ramin Mazaheri, the only ?sakerista? I had

offsite link CrossTalk travels to Sochi to attend Valdai Discussion club EXTENDED VERSION Sun Oct 22, 2017 04:49 | Scott
CrossTalk: Imagining Russia (EXTENDED VERSION)   CrossTalk has travelled to Sochi to attend Valdai Discussion club. On this edition of the program we discuss Russophobia and its impact on U.S.-Russia

offsite link Made In Russia VIII Sat Oct 21, 2017 20:05 | Scott
by Scott Humor As the story goes, someone was driving a European guest to Yakutsk from Magadan. After they took off for their journey, the passenger got concerned about the

The Saker >>

Human Rights in Ireland
www.humanrights.ie

offsite link Repeal or Replace? Tue Oct 03, 2017 06:31 | Fiona de Londras

offsite link An Abortion Law Immune from Constitutional Review? Thu Sep 28, 2017 20:14 | Fiona de Londras

offsite link Should the pro-choice movement support a new constitutional provision on abortion? Wed Sep 27, 2017 16:19 | Eoin Daly

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

Human Rights in Ireland >>

Cedar Lounge
For lefties too stubborn to quit

offsite link This week was the anniversary of one of the first recorded accounts of alien abduction? 13:51 Sun Oct 22, 2017 | WorldbyStorm

offsite link Sunday and the Week?s Media Stupid Statements? 10:17 Sun Oct 22, 2017 | guestposter

offsite link SBP/RedC poll this evening 19:34 Sat Oct 21, 2017 | WorldbyStorm

offsite link The Tripods and other work? 13:31 Sat Oct 21, 2017 | WorldbyStorm

offsite link The caverns of the Moon 12:26 Sat Oct 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

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