June 12, 2021

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JCF welcomes the re-election of David Skeel and appointment of Arthur González

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SAN JUAN – The Fiscal Control Board (JCF) welcomed on Wednesday, the re-election of David Skeel Jr. and the appointment of Arthur González as members of the Board.

“I am grateful to Senate Majority Leader Mitch McConnell for his confidence in my service on the Board and for including me on his list of candidates presented to President Trump and I would like to thank the President for his reappointment,” Skeel said in written communication. .

“I look forward to continuing to serve on the Board to help the recovery and progress of Puerto Rico,” added Skeel. “We have achieved a lot in more than four years: we have led Puerto Rico on the path of fiscal responsibility and we have reached important debt restructuring agreements.”

Skeel and González are distinguished bankruptcy experts and have served on the Board since its implementation in 2016. Initially, Skeel had been confirmed by President Barack Obama and reconfirmed by President Donald John Trump from a list submitted by the Senate Majority Leader from the United States, Mitch McConnell. Skeel has served as Chairman of the Oversight Board since October 2020. González, for his part, had been appointed to the Oversight Board by President Barack Obama and held the position until Justin was nominated by President Donald John Trump. Peterson in October 2020.

The appointment of Skeel to a second term and the appointment of González complete the process of appointing the seven members of the Oversight Board for a period of three years. Previously, President Trump reappointed Andrew G. Biggs and, in addition to Peterson, named John E. Nixon, Antonio L. Medina Comas, and Betty A. Rosa.

  • David Skeel is S. Samuel Arsht Professor of Corporate Law at the University of Pennsylvania School of Law, a position he has held since 2004. Skeel joined the University of Pennsylvania School of Law in 1999 and was previously a Professor at the School. of Law from Temple University. He is the author of several books, including Debt’s Dominion: A History of Bankruptcy Law in America.
  • Arthur González is a senior fellow at the New York University School of Law. Judge González served in the United States Bankruptcy Court for the Southern District of New York from 1995 to 2012, and retired as Chief Judge. During his tenure, Judge González presided over many large-scale and complex corporate reorganizations, including the Enron, WorldCom and Chrysler cases.

“I am pleased that the Board is complete again as we continue to negotiate a sustainable debt restructuring agreement for the Commonwealth of Puerto Rico and for PREPA, and we continue our work on the necessary reforms to improve the lives of all residents. of this island, and create a foundation for sustainable economic growth, even with the ongoing COVID-19 pandemic. This new Board is incredibly strong, with the stability that the original Board members create, as well as the new members, bringing important perspectives, ”said Skeel.

“Together, the members bring significant experience in the areas that matter most to Puerto Rico’s recovery, ranging from education to pensions, from bankruptcy to fiscal sustainability and business development,” he added.

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