US Indymedia Global Indymedia Publish About us
Printed from Boston IMC : http://boston.indymedia.org/
Boston.Indymedia
IVAW Winter Soldier

Winter Soldier
Testimonies
Brad Presente

Other Local News

Spare Change News
Open Media Boston
Somerville Voices
Cradle of Liberty
The Sword and Shield

Local Radio Shows

WMBR 88.1 FM
What's Left
WEDS at 8:00 pm
Local Edition
FRI (alt) at 5:30 pm

WMFO 91.5 FM
Socialist Alternative
SUN 11:00 am

WZBC 90.3 FM
Sounds of Dissent
SAT at 11:00 am
Truth and Justice Radio
SUN at 6:00 am

Create account Log in
Comment on this article | Email this article | Printer-friendly version
News :: Social Welfare
Puerto Rico Debt Advisors Subject to Conflict Disclosure
20 Feb 2019
After an investigation into potential conflicts of interest in Puerto Rico's debt restructuring, the island's oversight board notes it will increase disclosure requirements for advisors. The investigation began in response to a debt consultant whose affiliate company holds Puerto Rico debt.
Washington DC - After an investigation into potential conflicts of interest in Puerto Rico's debt restructuring, the island's oversight board notes it will increase disclosure requirements for advisors. The investigation began in response to a debt consultant whose affiliate company holds Puerto Rico debt.

"It's critical that any groups who are hired to advise on Puerto Rico's debt crisis disclose if they also own debt or have a conflict of interest," noted Jubilee USA Executive Director Eric LeCompte. LeCompte serves on United Nation debt expert groups and monitored Puerto Rico's debt crisis for the last 4 years. "US bankruptcy law already requires this type of disclosure and it should also be required for the Puerto Rico debt restructuring."

The 100-page investigation focused on the case of McKinsey and Company, hired to advise Puerto Rico's financial oversight board on the island's debt. The advisor's affiliate company MIO Partners owns Puerto Rico debt.

This work is in the public domain
Add a quick comment
Title
Your name Your email

Comment

Text Format
Anti-spam Enter the following number into the box:
To add more detailed comments, or to upload files, see the full comment form.