AGP, PIERLUISI TO TESTIFY BEFORE US SENATE
From Caribbean Business:
"The U.S. Senate Judiciary Committee will be holding a hearing at 10 a.m.
Tuesday, Dec. 1, on Puerto Rico’s fiscal problems. With jurisdiction over
bankruptcy policy, the Judiciary Committee, chaired by Sen. Chuck Grass-
ley (R., Iowa), is expected to discuss extensively the commonwealth’s eff-
orts to secure inclusion under Chapter 9 bankruptcy protection. The commi-
ttee has invited Gov. Alejandro García Padilla and Resident Commissioner
Pedro Pierluisi to testify as part of the hearing’s first panel. For the second
panel, the witnesses are: University of Puerto Rico finance Prof. Carlos A.
Colón De Armas; Alex J. Pollock, a resident fellow at American Enterprise
Institute in Washington, D.C.; Stephen Spencer, managing director at Houli-
han Lokey; Richard Carrión, executive chairman of Banco Popular; and Ri-
chard Ravitch, former lieutenant governor of New York..."
BOND PAYMENT, SCOTUS DECISION LOOM THIS WEEK
From News Is My Business:
"The government of Puerto Rico is facing a busy week with the development
of three key events on- and off-island, headed by a decision to make a $354 mi-
llion bond payment by the Dec. 1 deadline. The Government Development Bank
has that payment obligation in Senior Notes looming, of which $273.3m is back-
ed by the Commonwealth’s General Obligation constitutional guarantee...Also
pending is a $120 million disbursement for Christmas bonuses for public emplo-
yees, which the government has also yet to confirm it will make. Meanwhile,
sometime today, the U.S. Supreme Court is expected to decide on the govern-
ment’s petition for review of the decisions by the U.S. District Court of San
Juan and the Court of Appeals for the First Circuit in Boston declaring uncons-
titutional a law passed on the island that would allow it to restructure its debts
through an orderly process..."
ASES CHIEF REPORTS PROGRESS ON DEBT
From The San Juan Daily Star:
"Health Insurance Administration (ASES) Executive Director Ricardo Rivera
Cardona says ASES has made a sixth payment of $25.7 million to service pro-
viders under the Government Health Plan for debts accumulated under the old
tertiary provider administration model that ended on March 31. “We continue
to pay the debt little by little, according to the availability of funds every mon-
th,” Rivera Cardona said. “We authorized the payment [Monday]. We paid a li-
ttle over $202million, or 61 percent, on the accumulated debt of $333 million,
and liquidated the debt for pharmacy services...”
COAST GUARD FINDS MISSING MAN'S BODY
From Fox News Latino:
"The U.S. Coast Guard has found a body floating off Puerto Rico's northwest
coast that officials believe to be a Chilean man reported missing from a cargo
vessel traveling through the region. The body was dressed in a uniform belon-
ging to the Chilean-flagged Berkay N and was found near where the vessel's
first engineer Luis Leyva Aliaga went missing. The 62-year-old was last seen
at about 11 p.m. Wednesday and was reported missing Thursday after he did
not show up for his assignment..."
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