Is Chapter 9 Bankruptcy the Ultimate Remedy for Financially Distressed Territories and Sovereigns Such as Puerto Rico: Are There Better Resolution Mechanisms?

Written Statement to the U.S. Senate Committee on the Judiciary Hearing on Puerto Rico's Fiscal Problems: Examining the Source and Exploring the Solution
December 1, 2015

At the request of the United States Senate Committee on the Judiciary, Jim Spiotto submitted a written statement for the Committee's hearing on Puerto Rico's fiscal issues. The statement provides a history of Sovereign financial distress, lessons learned, past solutions, and proposed better mechanisms for resolution.

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