On 1 July 2015, the Commonwealth of Puerto Rico published a report authored by former World Bank chief economist Anne O. Krueger analysing its bond and other public debt (“Krueger Report”). The Krueger Report concludes Puerto Rico and its governmental enterprises owe $73 billion to their bond creditors. Not surprisingly, the Krueger Report also concludes that the Caribbean island sovereign with a declining population of 3.5 million residents, a declining GNP of $72 billion and trading activity closely linked to the US mainland cannot sustain its debt burden.

Puerto Rico is facing an impending fiscal crisis, brought on by the island’s US$73 billion in municipal debt. While the government is actively implementing reforms and engaging in tax hikes to address its overwhelming debt, such efforts are not likely to be sufficient, and with the upcoming maturity of Puerto Rico Electric Power Authority’s (PREPA) bank credit lines in August, there is a very real possibility that the entity will default on its debt.

Feasibility: Bankruptcy Lawyers Are Litigators, Too (2014 Caribbean Insolvency Symposium) - Hon. Mildred Caban, James C. Tecce, Linda Leali, Mark J. Wolfson, Scott M. Boucher

Distribution Issues and Other Tensions in Ponzi Scheme Cases (2014 Caribbean Insolvency Symposium) - Hon. Steven W. Rhodes, Hon. Laurel M. Isicoff, Gregory S. Grossman, Soneet R. Kapila, William Hare

Breakfast with the Judges (2014 Caribbean Insolvency Symposium) - Hon. Brian K. Tester, Hon. Allan L. Gropper, Hon. Enrique S. Lamoutte, Hon. Laurel M. Isicoff, Hon. Pamela Pepper, Hon. Robert A. Mark, Hon. Robert D. Drain, Hon. Steven W. Rhodes, Patricia A. Redmond

Discovery and Evidence Issues; Post-Judgment Motions; Appeals and Motions to Stay Pending Appeal; New Local Bankruptcy Rules and Updates (2014 Caribbean Insolvency Symposium) - Antonio A. Arias-Larcada, Hon. Brian K. Tester, Hon. Edward A. Godoy, Hon. Enrique S. Lamoutte, Hon. Mildred Caban

The Outer Limits (of U.S. Bankruptcy Court Jurisdiction) (2014 Caribbean Insolvency Symposium) - Brian J. Fox, Hon. Robert D. Drain, Ira L. Herman, Laura Hatfield, Paul J. Ricotta

Anything but Absolute: The Evolution of the Absolute Priority Rule in Individual and Corporate Cases (2014 Caribbean Insolvency Symposium) - C. Daniel Motsinger, Elizabeth A. Green, Frank P. Terzo, Harley E. Riedel

Domestic-Support Obligations; Applications to Retain Professionals and for Reimbursement of Fees (2014 Caribbean Insolvency Symposium) - Wigberto Lugo-Mender, Osmarie Navarro, Madeline Soto Pacheco, Alejandro Oliveras-Rivera

Chapter 15 Update (2014 Caribbean Insolvency Symposium) - David J. Molton, Hon. Allan L. Gropper, Hon. Robert A. Mark, Leyza F. Blanco, Prof. Andrew B. Dawson