Appaloosa Management

The investment firms that are waiting to collect the $72 billion debt from the U.S. Commonwealth and its corporations have separated into two groups: those who are against and those who are in favor of the restructuring of the debt or that the island be included in Chapter 9 of the federal Bankruptcy Law. Politicians from both parties that are members of the U.S. Senate Finance Committee, which has to evaluate the Chapter 9 measure for Puerto Rico and held a hearing in regards to this issue in September 2015, have received $327,250 in donations from the mutual fund and hedge fund companies that hold the islands bonds

Financial sources state that currently between 40 or 50 percent of the debt of the government of Puerto Rico is under the control of hedge funds, which in turn are part vulture funds. Their influence on public policy decisions is increasingly evident.