{"id":45081,"date":"2016-04-05T12:54:00","date_gmt":"2016-04-05T14:10:00","guid":{"rendered":"http:\/\/hispanicprwire.com\/main-street-bondholders-denounces-illegal-moratorium-on-constitutional-debt-payments\/"},"modified":"2016-04-05T12:56:03","modified_gmt":"2016-04-05T16:56:03","slug":"main-street-bondholders-denuncia-moratoria-ilegal-de-pagos-de-deuda-constitucional","status":"publish","type":"post","link":"https:\/\/hispanicprwire.com\/en\/main-street-bondholders-denuncia-moratoria-ilegal-de-pagos-de-deuda-constitucional\/","title":{"rendered":"Main Street Bondholders Denounces Illegal Moratorium on Constitutional Debt Payments"},"content":{"rendered":"<p><\/p>\n<style type=\"text\/css\"><![CDATA[\n\/* Style Definitions *\/\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n]]><\/style>\n<div class=\"xn-content\">\n<p><span class=\"xn-location\">WASHINGTON<\/span>, <span class=\"xn-chron\">April 5, 2016<\/span> \/PRNewswire-HISPANIC PR WIRE\/\u00a0&#8212;\u00a0In response to <span class=\"xn-location\">Puerto Rico<\/span> Governor <span class=\"xn-person\">Alejandro Garcia Padilla&#8217;s<\/span> illegal moratorium on all Commonwealth debt payments, which creates a constitutional crisis on the island by including debts backed by the &#8220;full faith and credit&#8221; of the Puerto Rican Government, Main Street Bondholders released the following statement:<\/p>\n<p>&#8220;This unilateral moratorium is a direct violation of our Constitution and undermines the rule of law that once governed <span class=\"xn-location\">Puerto Rico<\/span>,&#8221; said Main Street Bondholders Member Dr. <span class=\"xn-person\">Elias Gutierrez<\/span>. &#8220;Governor <span class=\"xn-person\">Garcia Padilla<\/span> has made clear that he will pursue any means necessary to follow his agenda, regardless of legality, and in doing so has all but destroyed the credibility of the Commonwealth.&#8221;<\/p>\n<p>&#8220;The moratorium will crush any negotiations that may have been ongoing in good faith between <span class=\"xn-location\">Puerto Rico<\/span> and bondholders,&#8221; said Main Street Bondholders Member Teresa Garcia. &#8220;This bill makes finding a consensual solution essentially impossible, and wrongly directs a crisis of the governor&#8217;s own making at regular bondholders all over <span class=\"xn-location\">Puerto Rico<\/span>.&#8221;<\/p>\n<p>The moratorium legislation, which was passed by the Puerto Rican Senate early this morning, awaits a final vote in the <span class=\"xn-location\">Puerto Rico<\/span> House of Representatives at <span class=\"xn-chron\">11:00 am ET<\/span>. If passed, the unconstitutional moratorium will likely doom the Puerto Rican Government and its bondholders to years of protracted litigation.<\/p>\n<p><b><a href=\"http:\/\/mainstreetbondholders.org\/\" target=\"_blank\" rel=\"nofollow\">Main Street Bondholders Coalition<\/a><\/b>\u00a0is a project of the 60 Plus Association, and is comprised of small bondholders from across America who are committed to a policy process that returns <span class=\"xn-location\">Puerto Rico<\/span> to sound financial management, respect for the rule of law, and the protection of their retirement savings.<\/p>\n<p>\u00a0<\/p>\n<\/div>\n<p> <\/p>","protected":false},"excerpt":{"rendered":"<div class=\"xn-content\">\n<p><span class=\"xn-location\">WASHINGTON<\/span>, <span class=\"xn-chron\">April 5, 2016<\/span> \/PRNewswire-HISPANIC PR WIRE\/\u00a0&#8212;\u00a0In response to <span class=\"xn-location\">Puerto Rico<\/span> Governor <span class=\"xn-person\">Alejandro Garcia Padilla&#8217;s<\/span> illegal moratorium on all Commonwealth debt payments, which creates a constitutional crisis on the island by including debts backed by the &#8220;full faith and credit&#8221; of the Puerto Rican Government, Main Street Bondholders released the following statement:<\/p>\n<p>&#8220;This unilateral moratorium is a direct violation of our&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-45081","post","type-post","status-publish","format-standard","hentry","category-negocios-y-finanzas"],"acf":[],"_links":{"self":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/45081","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/comments?post=45081"}],"version-history":[{"count":0,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/45081\/revisions"}],"wp:attachment":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media?parent=45081"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/categories?post=45081"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/tags?post=45081"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}