While in theory Trump is right, in practice and reality, the banks do have a claim, but the assets are gone. Puerto Rico no longer exists.
What remains is a destroyed hulk of an island with no ability to pay and no means of resurrection.
The creditors have two choices...... Write off the bad credit or extend the terms for 100 years.
“The creditors have two choices...... Write off the bad credit or extend the terms for 100 years.”
Or auction it off??