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President of the federal control board that oversees Puerto Rico’s finances will resign – KION546
SAN JUAN, Puerto Rico (AP) — The chairman of a federal control board that oversees Puerto Rico’s finances has announced he is stepping down as the U.S. territory struggles to restructure more than $9 billion in debt held by its troubled energy company. Wednesday’s announcement by David Skeel came the same day that U.S. President Joe Biden named Luis Ubiñas as the board’s newest member and moved former bankruptcy judge Arthur González and educator Betty Rosa to the board. Ubiñas will fill the seat vacated by Antonio Medina in the board’s third term. Skeel said his term will end when Biden nominates someone to take his place.
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