Puerto Rico is desperately trying to reorganize its $72 billion debt, but it faces a unique hurdle...
You see, it's an unincorporated territory, not a state. It can't actually declare Chapter 9 bankruptcy.
Without those legal protections, the Caribbean island is clearly sunk.
Puerto Rico is desperately trying to reorganize its $72 billion debt, but it faces a unique hurdle...
You see, it's an unincorporated territory, not a state. It can't actually declare Chapter 9 bankruptcy.
Without those legal protections, the Caribbean island is clearly sunk.
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