Debtwire Puerto Rico Restructuring Forum

June 7, 2017 | Harvard Club of New York City

Welcome To Debtwire's 4th Annual Puerto Rico Restructuring Forum

Over the last 12 months, the people of Puerto Rico elected a new governor, the island's government defaulted on constitutionally guaranteed debt, and the federal government appointed the Financial Oversight and Management Board to oversee the island’s restructuring. Creditors have not stood idly by. At one point over the past year, there were fifteen active creditor lawsuits in the District Court for Puerto Rico.

The future of Puerto Rico's economy, market access and fiscal health hangs in the balance. So, too, does its relationship with the United States. Voters will go to the polls in an 11 June referendum to status of Puerto Rico’s political future.

Please join the Debtwire team and esteemed panelists to get updates and progress for one of the most contentious restructurings in the Western Hemisphere.

Registration And Breakfast

Creditor Negotiations Inside And Outside The Credit Complex

The Puerto Rico Oversight, Management and Economic Stability Act (PROMESA) has asserted itself as the referee upon the playing field of restructuring talks. In the first panel, participants will discuss the restructuring process, negotiations between debtors and creditors, and inter-creditor tensions:

  • Title III seems to pit creditors against the oversight board. What leverage do creditors have?
  • Will a confrontational approach with the island and its leadership deepen inter-creditor tensions?

Coffee Break

The Government And Government Oversight

Governor Rossello has had to balance contentious reforms with maintaining some semblance of the status quo. There are indications that the Rossello administration disagrees with the PROMESA oversight board on fiscal and structural reforms. In the second panel, delegates will hear speakers discuss the ups and downs between the Rossello administration and PROMESA board and how that will impact Puerto Rico's restructuring efforts.

  • How has the dynamic so far played out between the new administration and the oversight board?
  • What reforms has the oversight board so far demanded that the government has enacted, or resisted?
  • Will we need to see additional legislation in Washington DC?

Economic And Political Outlook

Amid the all the uncertainty and volatility, Puerto Rico's economic and political outlook is hazy. On the ground, union workers are suing the state over a 2014 law barring salary increases to public workers. Puerto Rico's public health care system stands on shaky ground as it faces a funding shortfall for its most needy and poor. To top it off, a June 11 referendum will ask voters if Puerto Rico should become the US' 51st state or seek complete independence. Listen to panelists discuss where the island is headed in terms of reform, investment and how it plans to provide opportunities for businesses.

  • What are the bright spots in the island’s fiscal and economic turnaround?
  • How does the island complete a turnaround with its current healthcare crises?
  • How does statehood or independence affect the island’s outlook?

Event Concludes

*Agenda is subject to change

Venue


Harvard Club of New York City

35 W 44th St
New York, NY 10036

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