Puerto Rico retirees will get bankruptcy committee: U.S. Trustee

Puerto Rico retirees will get bankruptcy committee: U.S. TrusteeBy Nick Brown NEW YORK (Reuters) – The U.S. Department of Justice’s bankruptcy watchdog said on Friday it plans to appoint a committee of retirees in Puerto Rico’s bankruptcy to negotiate for pensioners facing benefit cuts as part of the island’s debt restructuring. Puerto Rico, carrying some $ 50 billion in unfunded pension liabilities, “clearly needs a retiree committee and sooner rather than later,” the office of the U.S. Trustee said in a filing in federal court in San Juan. Puerto Rico filed the biggest municipal bankruptcy in U.S. history earlier this month.



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