Updated at 2:30 p.m. ET
For years, Puerto Rico has grappled with an ever-mounting debt crisis, watching as its public-sector bills have grown to more than $70 billion. Including what the U.S. territory owes to pension funds, that debt exceeds $120 billion.
Now, Puerto Rico's struggle with its creditors has stepped into U.S. federal court, where an unprecedented debt-restructuring case opened with a hearing Wednesday.