Territories Relief Act

Territories Relief Act

This bill allows a territory (the Commonwealth of Puerto Rico, Guam, American Samoa, the Commonwealth of the Northern Mariana Islands, or the U.S. Virgin Islands), or a municipality of a territory, to petition the bankruptcy court for the judicial district in which it is located to effect a plan to adjust its debts.

The chief judge of the court of appeals for the circuit of the district in which the case is commenced shall designate the bankruptcy judge to conduct the case.