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Obama names members of Puerto Rico oversight board

Sep 01, 2016 - The Deal Pipeline

President Obama has named the members of the Financial Oversight and Management Board for Puerto Rico, a panel charged with guiding the financially ailing U.S. territory's debt restructuring negotiations and supervising the commonwealth's budgeting and finances.

The Commonwealth of Puerto Rico on July 1 missed $1 billion in payments on general obligation bonds and certain other commonwealth-guaranteed bonds, a default that prompted a consortium of investors in the financially struggling go...