Tag Archives: chapter 9 bankruptcy

Deborah Kobes: “Out of Control? Local Democracy Failure and Fiscal Control Boards”

Puerto Rico is facing enormous fiscal and political challenges. The Commonwealth has almost $70 billion in debts and has been unable to work effectively with its creditors. The U.S. Congress appears to be ready to impose a control board on Puerto Rico to assist with fiscal and debt restructuring challenges. What shape and powers this board would have is being …

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Bankruptcy Scholar Melissa Jacoby Discusses Chapter 9

by Cate Long and Gil Hall In the conversation with Cate and Gil, Melissa B. Jacoby outlines some of the legal theories behind bankruptcy in the United States, and discusses how they might impact Puerto Rico. Jacoby is the Graham Kenan Professor of Law at the University of North Carolina at Chapel Hill. Municipal bankruptcy (Chapter 9) is a rarely …

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