Puerto Rico Bankruptcy

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After years of financial woes and then the destruction of Hurricane Maria, Puerto Rico in just a few months has already spent $75 million in legal and consulting fees.

Puerto Rico’s Bankruptcy Case

The fee examiner said the average hourly rates ranged from $245 an hour for law firms based in Puerto Rico, $775 an hour for New York law firms, with one firm’s hourly rate at $1,425. A total of five law firms accounted for two-thirds of the requested fees.

Creditors and debtors includes the Puerto Rico Electric Power Authority, the government of Puerto Rico, and hedge funds groups.

Alexander Hernandez, Esq.

Alexander Hernandez is a bankruptcy attorney practicing in Jacksonville and the surrounding areas and Miami, Florida.

For prior articles related to bankruptcy cases in the news, follow this link

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