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  "documentTitle": "Assured Guaranty (AGO)",
  "authorId": "04_Greenlight_Capital",
  "authorName": "David Einhorn",
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  "presentationDate": "2018-04-23 00:00:00",
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  "notes": "The slide provides a high-level overview of the legislative mechanism used to manage Puerto Rico's debt restructuring.",
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      "text": "Under PROMESA, Puerto Rico is able to restructure its debt under Title 3, which is similar to a bankruptcy process but outside of bankruptcy court.",
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      "text": "Puerto Rico Oversight, Management and Economic Stability Act (PROMESA)\nOversight board\nTitle III – debt restructure mechanism\nFiscal plan negotiation",
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      "text": "We have no bankruptcy process for State governments or territories. In 2016 Congress instituted PROMESA, a U.S. federal law to deal with the situation. It established an unelected oversight board and a process for restructuring debt. Under PROMESA, Puerto Rico is able to restructure its debt under Title 3, which is similar to a bankruptcy process but outside of bankruptcy court.",
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