7 ms·
>Was Puerto Rico unaware of this when they took out the loans? The fact that it went to the Supreme Court of the US [1] means that it is unprecedented and requ
by bliblah 7y ago
>Was Puerto Rico unaware of this when they took out the loans?
The fact that it went to the Supreme Court of the US [1] means that it is unprecedented and required the highest court in the land to interpret the law means that no parties were fully aware of how Bankruptcy would hold.
[1]https://www.oyez.org/cases/2015/15-233 https://www.oyez.org/cases/2015/15-233
- darawk 7y agoI mean, sure, they tried to wriggle out of it any way they could, but the law was clear. And they had every reason to believe that this was a very likely outcome.
- thoughtstheseus 7y agoYes. Anyone who was involved with these bonds did or should have known. People loved that triple tax exemption too much.