Supreme Court Invalidates Puerto Rico’s Local Law for Municipal Debt Adjustment

“The Supreme Court on Monday refused to revive a Puerto Rico debt-restructuring law, putting the U.S. territory at risk of a messy default unless Congress this month passes legislation to help the Caribbean island survive its crippling fiscal crisis.”

http://finance.yahoo.com/news/top-court-rejects-puerto-ricos-150942735.html

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