On Thursday, January 20, 2022, the President signed into law:
H.R. 1192, the “Puerto Rico Recovery Accuracy in Disclosures Act of 2021” or “PRRADA”, which requires professionals employed in debt restructuring cases involving Puerto Rico to file verified statements disclosing their connections with the debtor, creditors, and other interested parties before seeking compensation for their services.
Thank you to Representatives Velazquez, Briggs, Raskin, Grijalva, Cicilline, Jayapal, Gonzalez-Colon, Soto, and Swalwell and Senators Menendez, Hirono, Blumenthal, Rubio, Stabenow, Wicker, and Wyden for their leadership.