H.R. 1192: Puerto Rico Recovery Accuracy in Disclosures Act of 2021
Legislation Details
117th Congress
To impose requirements on the payment of compensation to professional persons employed in voluntary cases commenced under title III of the Puerto Rico Oversight Management and Economic Stability Act (commonly known as PROMESA).
Sponsor: Rep. Nydia Velázquez — D — NY
Requires professionals employed in debt adjustment cases involving Puerto Rico to file verified statements disclosing their connections with interested parties before seeking compensation for their services. The Financial Oversight and Management Board for Puerto Rico must establish a list of such interested parties, which shall include the debtor, creditors, any attorney or accountant of the debtor or creditors, pe...
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