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Rule 75 relates to the bankruptcy procedures applicable to municipalities and public corporations in Puerto Rico. This rule outlines the process and eligibility for seeking relief under PROMESA's Title III. By understanding these regulations, stakeholders can better navigate their financial options. The Puerto Rico Management Evaluation Form can be used to assess compliance with Rule 75 in managing financial matters.
The purpose of PROMESA is to restore fiscal control and stabilize Puerto Rico’s economy. By setting up a framework for debt restructuring, it aims to protect public services while addressing critical financial challenges. Additionally, PROMESA encourages transparency and accountability in management practices. Utilizing the Puerto Rico Management Evaluation Form can provide insights into the effectiveness of measures taken under PROMESA.