SAN JUAN (Reuters) - The White House said on Monday it will ask the U.S. Senate to confirm the current members of Puerto Rico's federally created financial oversight board after creditors of the bankrupt island successfully challenged the appointments on constitutional grounds.
The move lifts a cloud over the board as it attempts to restructure Puerto Rico's core government debt under a form of bankruptcy after winning court approval for deals involving the U.S. commonwealth's sales tax-backed bonds and Government Development Bank debt.