O’Melveny’s Uhland Comments on Puerto Rico Debt Crisis in Reuters

July 23, 2014 Reuters’ July 23, 2014, “Puerto Rico Debt Crisis Headed for US-Style Bankruptcy Resolution” details the current state of Puerto Rico’s debt crisis after Governor Alejandro Garcia Padilla created a “bankruptcy-like process for restructuring the debt of commonwealth-run corporations.” O’Melveny’s Chair of the US Restructuring Practice Suzzanne Uhland commented on the Public Corporations Debt Enforcement and Recovery Act saying that, “what the commonwealth is trying to signal is that they are going to let PREPA and PRASA go under but they will stand behind the GO and GDB bonds.”