After its defaults, Puerto Rico may be facing a lawsuit soon. Puerto Rico is currently preparing itself for lawsuits that its creditor will be imposing after their second default in just five months.
The Obama administration wants the Supreme Court to rule that Puerto Rico remains a dependent US Territory and not an independent “sovereign,” contradicting the nation’s autonomy that it gained in the 1952 constitution.
Tens of thousands of Puerto Ricans, including hospital workers wearing scrubs, rallied in San Juan on Thursday to press Washington to improve healthcare benefits for the indebted U.S. territory which is in the middle of a fiscal crisis.
The family of a crew member missing from the El Faro cargo ship is seeking $100 million in a negligence and wrongful death lawsuit against the owners and captain of the ship that sank off the Bahamas in a hurricane two weeks ago.
In April 2011, two years before their prices sank, a slew of bond funds that were being sold by UBS’s Puerto Rico arm appeared to its brokers to be such risky investments that they balked at promoting them to their clients.
Puerto Rico has filed an appeal against local lender Doral Financial Corp over $229.9 million in disputed taxes, which Doral on Friday called "baseless".
Two men were jailed in Puerto Rico on Wednesday on charges of killing a retired U.S. Army sergeant and three members of his family, as well as attempting to kill the victims' 13-year-old son by beating him and throwing him off a bridge.
Units of 13 major Wall Street firms, including JPMorgan and UBS, improperly sold bonds from Puerto Rico's landmark March junk deal to retail investors who may not have understood the debt's riskiness, the U.S. Securities and Exchange Commission said on Monday.
An earthquake with a 6.4 magnitude struck just after midnight in Puerto Rico early Monday, in one of the country's largest to hit the territory in recent years. While it caused some power outages, no major damages or injuries were reported in the earthquake, which hit about 35 miles north of Hatillo, at a depth of 17