Puerto Rico is struggling with a $72 billion debt and is seeking for a Chapter 9 bankruptcy. It is unclear why the said country is excluded and will not be able to take advantage of it to protect it from creditors and restructure its debts. Only Congress can make a bankruptcy law.
chapter 9
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Edge Products filed for bankruptcy, a court filing showed.
A state judge asked for the withdrawal of Detroit's Chapter 9 bankruptcy protection appeal.
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