Puerto Rico Declares Quasi-Bankruptcy

DIRE

Updated May 03, 2017 12:45PM EDT / Published May 03, 2017 12:20PM EDT

Puerto Rico moved to declare a type of bankruptcy on Wednesday, in a move to avoid lawsuits from its creditors over the government’s billions in public debt. The governor, Ricardo Rossello, had tried to get parties to come together to restructure its $73 billion in bond debt and $50 billion in unfunded pensions, but many Puerto Ricans resisted austerity efforts. As a territory, Puerto Rico is unable to declare Chapter 9 bankruptcy that can be used by local governments, so it will enter federal bankruptcy court based on a law that allows territorial governments to do so.

Read it at The New York Times

Here’s How Stormy Daniels Was Served With Trump Case Papers

Trump’s legal team is in a battle for information regarding the porn actor—and say they’ve got a photo to prove their case.

Quentin Tarantino Is Scrapping ‘The Movie Critic’: Report

The director “simply changed his mind” on the project, which was set to shoot this year with Brad Pitt in the leading role, according to Deadline.

Ted Kaczynski Was Depressed, Had Rectal Cancer Before Death

Kaczynski’s autopsy report says he “was noted to be depressed and sent for psychiatric evaluation” before his death last June.

‘SVU’ Star Mistaken for Real Cop by Lost Girl While Filming

The little girl was apparently oblivious to the film crew, as well as Mariska Hargitay’s scene partner, Ice-T.

Texas Water Hack Likely Linked to Russian Spy Agency: Report

The infamous hacking group Sandworm may be branching out, a Mandiant report finds.

Dutch Princess Reportedly Fled to Spain Over Kidnap Fears

Alarming threats interrupted her studies at Amsterdam University.

Olivia Munn Told Docs to Do ‘Smaller’ Breast Reconstruction

“Even as the anesthesia was making its way into my body, the last thing I said was ‘Please go smaller,’” she recalled.

Scorsese Eyes Sinatra Biopic With DiCaprio and J. Law

The aging director wants to make a movie about Frank Sinatra’s life, but he’ll have to go through Sinatra’s daughter Tina, who controls his estate.

Puerto Rico Declares Quasi-Bankruptcy