PROMESA

E586787

PROMESA is a U.S. federal law enacted in 2016 to address Puerto Rico’s fiscal crisis by establishing an oversight board and a process for restructuring its public debt.

All labels observed (1)

Label Occurrences
PROMESA canonical 3

How this entity was disambiguated

Statements (49)

Predicate Object
instanceOf United States federal law ⓘ
statute ⓘ
acronym PROMESA ⓘ
affects Government of Puerto Rico ⓘ
Puerto Rico bondholders ⓘ
Puerto Rico public corporations ⓘ
appliesTo Puerto Rico ⓘ
authorizes certification of fiscal plans and budgets by the Oversight Board ⓘ
stay of creditor litigation during restructuring negotiations ⓘ
codifiedIn 48 U.S.C. §§ 2101–2241 ⓘ
Public Law 114-187 ⓘ
containsMechanism appointment of Oversight Board members by the U.S. President ⓘ
certification of restructuring plans by the Oversight Board ⓘ
creates Financial Oversight and Management Board for Puerto Rico ⓘ
criticizedFor austerity measures associated with fiscal plans ⓘ
perceived erosion of Puerto Rico’s self-governance ⓘ
enactedBy 114th United States Congress ⓘ
enactmentDate 2016-06-30 ⓘ
establishes Financial Oversight and Management Board for Puerto Rico ⓘ
fullName Puerto Rico Oversight, Management, and Economic Stability Act ⓘ
geographicScope territory of Puerto Rico ⓘ
hasProvision Title I ⓘ
Title II ⓘ
Title III ⓘ
Title IV ⓘ
Title V ⓘ
Title VI ⓘ
jurisdiction United States ⓘ
language English ⓘ
legalBasisFor Puerto Rico debt restructuring proceedings under Title III ⓘ
oversightBody Financial Oversight and Management Board for Puerto Rico ⓘ
policyArea bankruptcy and insolvency ⓘ
public finance ⓘ
territorial governance ⓘ
purpose achieve fiscal responsibility and access to capital markets for Puerto Rico ⓘ
address Puerto Rico’s fiscal crisis ⓘ
provide a legal framework for restructuring Puerto Rico’s public debt ⓘ
relatedTo Chapter 9, Title 11, United States Code ⓘ
United States territorial law ⓘ
requires balanced budgets over time for Puerto Rico’s government ⓘ
development of fiscal plans for Puerto Rico ⓘ
signedBy Barack Obama ⓘ
signedIntoLawDate 2016-06-30 ⓘ
sponsorChamber United States House of Representatives ⓘ
United States Senate ⓘ
status in force ⓘ
subjectOf Puerto Rico debt crisis ⓘ
titleIIIProvides court-supervised debt restructuring process similar to U.S. municipal bankruptcy ⓘ
titleVIProvides collective action process for consensual debt restructuring ⓘ

How these facts were elicited

Referenced by (3)

Full triples — surface form annotated when it differs from this entity's canonical label.