District Court, D. Puerto Rico March 28, 2016, Civil No. 3:15-CV-03018 (JAF) (Wal-Mart Puerto Rico, Inc. v. Zaragoza-Gomez)

OPINION AND ORDER

JOSE ANTONIO FUSTE, UNITED STATES DISTRICT JUDGE

The Commonwealth of Puerto Rico (“the Commonwealth” or “Puerto Rico”) is insolvent and no longer able to pay its debts as they become due. The Treasury Single Account, which functions as the Commonwealth’s main operating account, will reach an almost $1 billion negative balance by the end of June 2016.