Rafael Fantauzzi of the National Puerto Rican Coalition on Puerto Rico and Chapter 9 of the Bankruptcy Laws - 4:36
"It is an incredible mechanism that assists municipalities to be able to handle debt consolidation or renegotiation."
Posted Apr 02, 2015
In 1984,Congress passed bankruptcy legislation that included a definition for the term "State." That definition excluded Puerto Rico from chapter 9 of the Bankruptcy Laws. Rafael Fantauzzi of the National Puerto Rican Coalition discusses efforts to amend that code and treat Puerto Rico as a state when it comes to Chapter 9. In discussion Chapter 9, Fantauzzi said, "It is an incredible mechanism that assists municipalities to be able to handle debt consolidation or renegotiation." Visit the National Puerto Rican Coalition on Facebook or follow at www.Twitter.com/NPRCINC
Produced by: National Newsmakers Team
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