May 3 (Reuters) - Puerto Rico Governor Ricardo Rossello told reporters on Wednesday he has requested that the U.S. territory's federal financial oversight board commence a Title III proceeding under last year's Puerto Rico rescue law known as PROMESA.

Title III is honda ridgeline width with mirrorsan in-court debt restructuring process akin to U.S. Bankruptcy. Rossello's remarks come a day after several major creditors sued his government over defaults on the island's $70 billion in debt. (Reporting by A Contributor in San Juan; Writing by Nick Brown)

View comments