Puerto Rico’s bankruptcy hearing marks reset of asset scramble

May 17, 2017 By Daniel Bases NEW YORK (Reuters) – Puerto Rico is due to embark on a bankruptcy process on Wednesday that could take years to resolve, as investors scramble to get the highest recovery on their bonds. The debt is still trading at elevated levels versus what the government has set aside for payment under its financial recovery plan, and creditors worry about whether they will be able to recoup at those prices. Whether they get that level of recovery is debatable, according to investors and analysts, as…

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