Puerto Rico brings in restructuring lawyers


Puerto Rico has hired restructuring lawyers from Cleary Gottlieb Steen & Hamilton, prompting speculation that the commonwealth is about to revamp its $70B of debt. Puerto Rico wouldn't be drawn on what the law firm's specific role would be.

Cleary has represented a who's who of debt-laden countries, including Greece, Iceland and Argentina.

News of the hiring comes after Puerto Rico raised $3.5B in high-yield municipal bonds last month.

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Comments (2)
  • june1234
    , contributor
    Comments (3805) | Send Message
     
    Iceland defaulted Greece didn't. Iceland doesn't have a 30% unemployment rate like Greece does.
    8 Apr 2014, 06:36 AM Reply Like
  • Chris DeMuth Jr.
    , contributor
    Comments (9253) | Send Message
     
    Here is one way to get exposure to a PR recovery: http://bit.ly/1h2koew
    8 Apr 2014, 07:43 AM Reply Like
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