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The debt travails of Puerto Rico, have been bubbling all summer and unfortunately for the island’s battered economy, bond holders are girding for a lengthy legal tussle.
Last week, Alejandro García Padilla, the governor of Puerto Rico, which is a territory of the US, called on the island’s creditors to come to the negotiating table after the government unveiled reforms designed to revitalise its struggling economy, urging them to talk rather than reach for their lawyers.