"Eric LeCompte, executive director of Jubilee USA, a religious anti-poverty group and proponent of restructuring Puerto Rico’s debt, endorsed the bill while acknowledging it is not 'perfect.'

LeCompte argued that even the threat of court-supervised restructuring would create an incentive for parties to reach a voluntary agreement to put Puerto Rico’s debt on a sustainable path.

The bill contains other provisions that give Puerto Rico’s government more leverage over creditors, LeCompte said. He described an 'innovative' clause that would require all creditors in a given bond pool to proceed with a voluntary restructuring deal if the lenders holding two-thirds of that pool’s bonds agreed to it. This would prevent a small number of holdouts from blocking a resolution, he said — something that was a problem in Argentina and other countries plagued by sovereign debt crises.

'Speaker Ryan (R-Wis.), Chairman Bishop (R-Utah) and Rep. Duffy (R-Wis.) have really strongly stood against the special interests,' LeCompte said. 'It is really pretty amazing that they put the people of Puerto Rico first and a small group of creditors second.'"