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Public Inquiry
Interested in maladministration. Estd. 2005

offsite link Garda corruption: the stripped down truth

offsite link Will Pat Hickey turn up for his trial? Anthony

offsite link Garda breath tests letter Anthony

offsite link Daniel McConnell: Happy to wear establishment blinkers Anthony

offsite link State failing in its duty to enforce law Anthony

Public Inquiry >>

The Saker
A bird's eye view of the vineyard

offsite link Syrian War Report ? December 11, 2017: Putin Orders Withdrawal Of Russian Forces From Syria Mon Dec 11, 2017 22:20 | Scott
https://southfront.org/syrian-war-rep... On December 10, the Syrian Arab Army (SAA) and Hezbollah launched a military operation in order to clear the desert area in eastern Syria from ISIS. According to pro-government

offsite link Iran?s 1979 revolution picked up the People?s torch first lit in 1917 Russia Mon Dec 11, 2017 16:19 | The Saker
[Note by the Saker: I am posting this article with great reservations since I believe that, will all due respect, my friend Ramin fundamentally misunderstand the nature of the Bolshevik

offsite link Proof that the Saker is a Kremlin Troll! Mon Dec 11, 2017 02:01 | The Saker
Defending the Kremlin: Hawks, Falcons and Owls in Service by Iliia Pitalev for Sputnik News It is unbelievable, but true: birds help defend the Kremlin. Kremlin officials use hawks, falcons

offsite link Nasrallah: Trump?s Quds (Jerusalem) decision threatens to wipe out Palestine & Aqsa Mosque ? ENG Sat Dec 09, 2017 15:03 | The Saker

offsite link Moveable Feast Cafe 2017/12/09 ? Open Thread Sat Dec 09, 2017 05:00 | Herb Swanson
2017/12/09 05:00:01Welcome to the ‘Moveable Feast Cafe’. The ‘Moveable Feast’ is an open thread where readers can post wide ranging observations, articles, rants, off topic and have animate discussions of

The Saker >>

Human Rights in Ireland
www.humanrights.ie

offsite link Liberty, the ICCL, and other NGO groups? landmark challenge against the UK Government?s mass surveil... Tue Nov 07, 2017 11:56 | admin

offsite link What Ireland can gain from international guidance on Article 19 UNCRPD Mon Oct 23, 2017 12:53 | Eilionoir Flynn

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

Human Rights in Ireland >>

Cedar Lounge
For lefties too stubborn to quit

offsite link Polls and polls and government formation 11:03 Tue Dec 12, 2017 | WorldbyStorm

offsite link We don?t need a border at all! 10:03 Tue Dec 12, 2017 | WorldbyStorm

offsite link All we lack is geographical proximity! 09:02 Tue Dec 12, 2017 | WorldbyStorm

offsite link Fine Gael?s Peace Process? 11:58 Mon Dec 11, 2017 | WorldbyStorm

offsite link Last minute Christmas gifts for leftists 11:04 Mon Dec 11, 2017 | WorldbyStorm

Cedar Lounge >>

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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