The Government of Puerto Rico is now placing the island’s $73-billion debt crisis into the hands federal bankruptcy court.   If you thought the Detroit bankruptcy was big, this one is much bigger, making it the largest U.S. local government entity to seek court protection from its creditors in American history.

Coverage from the Island & the Mainland here:

Caribbean Business:

Puerto Rico Government commences debt restructuring under Title III

http://caribbeanbusiness.com/government-of-puerto-rico-announces-title-iii/

El Nuevo Día (en Español):

La Junta radica la petición de quiebra

http://www.elnuevodia.com/negocios/economia/nota/lajuntaradicalapeticiondequiebra-2317378/

Análisis: La Quiebra de Puerto Rico

http://www.elnuevodia.com/videos/negocios/finanzas/analisislaquiebradepuertorico-video-233230/

The New York Times:

CNBC:

Puerto Rico announces $70B debt restructruring

http://player.cnbc.com/p/gZWlPC/cnbc_global?playertype=synd&byGuid=3000615422&size=640_360