Puerto Rico can’t use bankruptcy to get rid of its debts. It is attempting to force the government to negotiate, and the meeting was set to happen today in New York.
Government Development Bank President Melba Acosta is expected to attend this meeting, according to an Investment News article. The meeting, according to the article “will start at 3 p.m. in Citigroup Inc.’s New York headquarters, said Todd Hagerman, head of investor relations in San Juan for the development bank, which handles the island’s debt transactions. It will focus on the IMF report.”
OppenheimerFunds has about $4.4 billion worth of uninsured obligations from the island as of July 9, according to data compiled by Bloomberg.
If you would like to speak with a securities attorney about your potential to recover investment losses, please call the securities attorneys of The White Law Group at (312)238-9650 for a free consultation.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago Illinois and Boca Raton, Florida.
To learn more about The White Law Group, visit www.WhiteSecuritiesLaw.com.
Tags: Oppenheimer, Puerto Rico bonds Last modified: August 18, 2023