Main Street Bondholders to Gather in Washington to Attend Senate Judiciary Committee Hearing on Puerto Rico

USA - English

• USA - español

WASHINGTON, Nov. 30, 2015 /PRNewswire/ -- On Tuesday, December 1, Main Street Bondholders from the U.S. mainland and the Commonwealth of Puerto Rico will come to Washington, DC to draw attention to their cause as the Senate Judiciary Committee's convenes a hearing on the Puerto Rican debt crisis. The Senate hearing is scheduled to feature testimony from Puerto Rico Governor Alejandro Garcia Padilla and Banco Popular CEO Richard Carrion, as Puerto Rico's leaders continue to lobby Congress to violate the Island's Constitution and wipeout bondholders by restructuring all of the Commonwealth's public debts.

Main Street Bondholders members will also attend a press conference to speak out against the Governor's dangerous and unprecedented plan for Puerto Rico.

"Rather than engaging in a consensual process that has been offered by creditors, Governor Garcia Padilla has embarked on a warpath toward total debt avoidance," said the 60 Plus Association's Vice President Matthew Kandrach. "His actions will eviscerate the Constitution, tarnish Puerto Rico's economic credibility, rattle municipal markets, and destroy the retirement savings of thousands invested in Puerto Rican bonds."

Last week, both the New York Times and El Nueva Dia reported that some of the island's largest creditors were willing to engage in a consensual process to address the island's fiscal problems. 

The members of Main Street Bondholders will be available for questions from media following their remarks.

What: Main Street Bondholders Press Conference

When: Tuesday, December 1, immediately following the Senate Judiciary Committee Hearing at 10:00 am

Where: Hyatt Regency Capitol Hill, Capitol Room B – 400 New Jersey Avenue NW, Washington, DC 20001

RSVP: RSVP to [email protected]

Main Street Bondholders Coalition is a project of the 60 Plus Association, and is comprised of small bondholders from across America who are committed to a policy process that returns Puerto Rico to sound financial management, respect for the rule of law, and the protection of their retirement savings.

CONTACT: Janet Wootten, 202-506-0606, [email protected]

SOURCE Main Street Bondholders