Lunch n' Learn: Puerto Rico, PROMESA & Hurricane Maria with Jim Spiotto

Mon., November 20, 2017 | 12:00 PM — 1:00 PM

Harris Public Policy
1155 E. 60th Street
Room 289B
Chicago, IL 60637
United States

Sponsored By: Center for Municipal Finance

In 2014, Puerto Rico had $70 billion in debt, and its debt-to-GDP ratio was 68%. The strain of Puerto Rico's debt led to spending cuts and tax increases. Despite those measures Puerto Rico defaulted on a bond payment in 2015. In 2016, the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) was signed into law. Under PROMESA an oversight board was created to control Puerto Rico's budget and the restructuring of its debt. 

Join the Center for Municipal Finance for an engaging presentation by Jim Spiotto about PROMESA, how it should work, how it is working, and how Hurricane Maria has impacted Puerto Rico's financial recovery.

Lunch will be provided.

Please RSVP here by Friday, November 17, 2017.

About the Speaker

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James (Jim) E. Spiotto is a Retired Partner of the law firm of Chapman and Cutler LLP and presently is the Managing Director of Chapman Strategic Advisors LLC, the consulting subsidiary of that law firm. He also is co-owner and co-publisher of MUNINETGUIDE.COM, an online service devoted to municipal related research and information. He is a leading expert on municipal finance, default and bankruptcy

In the forty years prior to retiring as a partner in the law firm of Chapman and Cutler LLP, he represented issuers, indenture trustees, bondholders, banks, insurance companies, institutional investors and funds in litigation, bankruptcy or workouts of more than 400 troubled debt financings in more than 35 different states and in foreign countries as well.

Questions? Contact Harris Events.