Vulture funds sue Puerto Rico, to stop it from “wasting money” on hospitals and schools


Oh, really??
“A consortium of vulture funds is suing Puerto Rico in federal court, demanding that the Commonwealth “stop wasting its assets” on payments to local hospitals and schools, until the Financial Control Board (FCB) arrives in September 2016.”
#StandUpToPromesa … When injustice becomes law, rebellion is duty!!

WAR AGAINST ALL PUERTO RICANS

A consortium of vulture funds is suing Puerto Rico in federal court, demanding that the Commonwealth “stop wasting its assets” on payments to local hospitals and schools, until the Financial Control Board (FCB) arrives in September 2016.

According to the lawsuit, Puerto Rico is “brazenly violating the PROMESA legislation,” which “specifically prohibits Puerto Rico” from making these payments until the FCB takes control of the island’s economy.

The case is Lex Claims v. Padilla, 16-cv-02374, U.S. District Court, District of Puerto Rico.

http://www.bloomberg.com/news/articles/2016-07-20/puerto-rico-sued-for-diverting-funds-after-oversight-law-passage

http://www.newsy-today.com/puerto-rico-sued-for-diverting-cash-after-federal-law-passed-bloomberg/

The significance to Puerto Rico is profound: within weeks of the passage of PROMESA, vulture funds are already using it – as legal and federal leverage – to prevent Puerto Rico from paying for schools, medical, police, fire, electrical and water services.

If anyof those services lower the profits of the vulture funds, they will sue in federal court to stop them.

THE STONE…

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About Dr. Rex

I'm originally from Puerto Rico. I was born in Santurce and raised in Rio Piedras. Have lived in Florida since 1999. I have a doctorate degree in Medicine; completed in 1976. My Internal Medicine specialty was completed in 1979. Worked for Puerto Rico's health system until 1985. At this time, I'm happily retired after working for the federal government for almost 28yrs. I want to offer any knowledge that I have to anyone "out there" who is interested. My views are liberal in almost every sense. My knowledge is "eclectic" - a bit of everything. Music and reading are my passion. Blogging has also become a very interesting endeavor. Metaphysical topics attract me. I'm interested in news reporting human issues like injustice, discrimination and abuse - the "wrongly" affected. My intention is to bring this knowledge to an understandable level and to help anyone in need. I'm open to questions and will answer them to the best of my ability. Currently working on an enterprise whose main mission will be to bring peoples of all walks of life together. To be one .... since we ALL are ONE!! The future looks bright and promising!!!

1 thought on “Vulture funds sue Puerto Rico, to stop it from “wasting money” on hospitals and schools

  1. Pingback: Vulture funds sue Puerto Rico, to stop it from “wasting money” on hospitals and schools — It Is What It Is – Welcome to the World of Ekasringa Avatar!

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