221004 ORD RE 323RD OMNI OBJ VERSION OCTOBER 4, 2022 1

UNITED STATES DISTRICT COURT 

FOR THE DISTRICT OF PUERTO RICO

In re:

THE FINANCIAL OVERSIGHT AND 

MANAGEMENT BOARD FOR PUERTO RICO,

as representative of

THE COMMONWEALTH OF PUERTO RICO, et 

al.,

Debtors.1

PROMESA

Title III

No. 17 BK 3283-LTS

(Jointly Administered)

ORDER GRANTING THE THREE HUNDRED TWENTY-THIRD OMNIBUS OBJECTION 

(SUBSTANTIVE) OF THE COMMONWEALTH OF PUERTO RICO AND THE EMPLOYEES 

RETIREMENT SYSTEM OF THE GOVERNMENT OF THE COMMONWEALTH OF 

PUERTO RICO TO DUPLICATE, DEFICIENT, AND/OR NO LIABILITY BOND CLAIMS

Upon the Three Hundred Twenty-Third Omnibus Objection (Substantive) of the 

Commonwealth of Puerto Rico and the Employees Retirement System of the Government of the 

Commonwealth of Puerto Rico to Duplicate, Deficient, and/or No Liability Bond Claims (Docket 

Entry No. 16649) (the “Three Hundred Twenty-Third Omnibus Objection”), filed by the 

 

1 The Debtors in these Title III Cases, along with each Debtor’s respective Title III case 

number and the last four (4) digits of each Debtor’s federal tax identification number, as 

applicable, are the (i) Commonwealth of Puerto Rico (“Commonwealth”) (Bankruptcy 

Case No. 17-BK-3283- LTS) (Last Four Digits of Federal Tax ID: 3481); (ii) Puerto Rico 

Sales Tax Financing Corporation (“COFINA”) (Bankruptcy Case No. 17-BK-3284-LTS) 

(Last Four Digits of Federal Tax ID: 8474); (iii) Puerto Rico Highways and Transportation 

Authority (“HTA”) (Bankruptcy Case No. 17-BK-3567-LTS) (Last Four Digits of Federal 

Tax ID: 3808); (iv) Employees Retirement System of the Government of the 

Commonwealth of Puerto Rico (“ERS”) (Bankruptcy Case No. 17-BK-3566-LTS) (Last 

Four Digits of Federal Tax ID: 9686); (v) Puerto Rico Electric Power Authority (“PREPA”) 

(Bankruptcy Case No. 17- BK-4780-LTS) (Last Four Digits of Federal Tax ID: 3747); and 

(vi) Puerto Rico Public Buildings Authority (“PBA”) (Bankruptcy Case No. 19-BK-5523-

LTS) (Last Four Digits of Federal Tax ID: 3801) (Title III case numbers are listed as 

Bankruptcy Case numbers due to software limitations).

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221004 ORD RE 323RD OMNI OBJ VERSION OCTOBER 4, 2022 2

Commonwealth of Puerto Rico (the “Commonwealth”) and the Employees Retirement System of 

the Government of the Commonwealth of Puerto Rico (“ERS,” and together with the 

Commonwealth, the “Debtors”), dated April 30, 2021, for entry of an order disallowing in their 

entirety certain claims filed against the Debtors, as more fully set forth in the Three Hundred 

Twenty-Third Omnibus Objection and supporting exhibits thereto; and the Court having 

jurisdiction to consider the Three Hundred Twenty-Third Omnibus Objection and to grant the 

relief requested therein pursuant to PROMESA section 306(a); and venue being proper pursuant 

to PROMESA section 307(a); and due and proper notice of the Three Hundred Twenty-Third

Omnibus Objection having been provided to those parties identified therein, and no other or further 

notice being required; and upon the Notice of Presentment of Proposed Order Granting the Three 

Hundred Twenty-Third Omnibus Objection (Substantive) of the Commonwealth of Puerto Rico

and the Employees Retirement System of the Government of the Commonwealth of Puerto Rico to 

Duplicate, Deficient, and/or No Liability Bond Claims, dated May 24, 2022 (Docket Entry No. 

20961, the “Notice”), for entry of an order disallowing the Claim to Be Heard (as defined below) 

and the Claims to Be Disallowed via Notice of Presentment2

, as more fully set forth in the Notice; 

and upon the record of the hearing held on the Three Hundred Twenty-Third Omnibus Objection 

on January 19-20, 2022, and the rulings made therein sustaining the Three Hundred Twenty-Third 

Omnibus Objection as to Proof of Claim No. 12902 (the “Claim to Be Heard”) on the grounds that 

it asserts investments in mutual funds for which the Debtors are not directly liable; and the Court 

having determined that the relief sought in the Three Hundred Twenty-Third Omnibus Objection 

is in the best interests of the Debtors, their creditors, and all parties in interest; and the Court having 

 2 Capitalized terms used but not otherwise defined herein have the meanings given to them 

in the Notice. 

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221004 ORD RE 323RD OMNI OBJ VERSION OCTOBER 4, 2022 3

determined that the legal and factual bases set forth in the Three Hundred Twenty-Third Omnibus 

Objection establish just cause for the relief granted herein; and after due deliberation and sufficient 

cause appearing therefor, it is hereby:

ORDERED that the Three Hundred Twenty-Third Omnibus Objection is 

GRANTED as set forth herein; and it is further

ORDERED that the Claim to be Heard and the Claims to Be Disallowed via Notice 

of Presentment (collectively, the “Claims to Be Disallowed”) are hereby disallowed in their 

entirety as set forth below; and it is further

ORDERED that Kroll Restructuring Associates, LLC (“Kroll”) is authorized and 

directed to designate the Claims to Be Disallowed as expunged on the official claims registry in 

the Title III Cases; and it is further

ORDERED that this Order resolves Docket Entry No. 16649 in Case No. 17-3283;

and it is further

ORDERED that this Court shall retain jurisdiction to hear and determine all matters 

arising from or related to the implementation, interpretation, or enforcement of this Order.

SO ORDERED.

Dated: October 4, 2022

 /s/ Laura Taylor Swain 

LAURA TAYLOR SWAIN

United States District Judge

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