Puerto Rico Bankruptcy
Format updated August 16, 2018
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
Now, in a Hollywood style plot line, the investors looking to buy out the company will be led by women.
Once a case goes through the foreclosure process, the final step is to list the property for sale at an auction. In this case, the business owners of the inn are filing for bankruptcy in order to stop the sale of the home.
Paul Teutul of American Chopper, filed for Chapter 13 bankruptcy in New York.
Toys R’ US is expected to close four hundred stores.
With the pending investigation of Special Counsel Robert Mueller regarding Trump’s campaign and Russia’s actions in the 2016 Presidential election, it seems that Manafort did not disclose a creditor as required per bankruptcy law.