221004 ORD RE 357TH 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 FIFTY-SEVENTH OMNIBUS OBJECTION 

(SUBSTANTIVE) OF THE COMMONWEALTH OF PUERTO RICO, PUERTO RICO 

HIGHWAYS AND TRANSPORTATION AUTHORITY, AND PUERTO RICO SALES TAX 

FINANCING CORPORATION TO DUPLICATE, DEFICIENT, AND/OR NO LIABILITY BOND CLAIMS

Upon the Three Hundred Fifty-Seventh Omnibus Objection (Substantive) of the 

Commonwealth of Puerto Rico, the Puerto Rico Highways and Transportation Authority, and the 

Puerto Rico Sales Tax Financing Corporation to Duplicate, Deficient, and/or No Liability Bond 

Claims (Docket Entry No. 17102) (the “Three Hundred Fifty-Seventh Omnibus Objection”), filed 

 

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 (the “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 357TH OMNI OBJ VERSION OCTOBER 4, 2022 2

by the Commonwealth of Puerto Rico (the “Commonwealth”), the Puerto Rico Highways and 

Transportation Authority (“HTA”), and the Puerto Rico Sales Tax Financing Corporation 

(“COFINA,” and together with the Commonwealth and HTA, the “Debtors”), dated June 18, 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 Fifty-Seventh Omnibus Objection and supporting exhibits 

thereto; and the Court having jurisdiction to consider the Three Hundred Fifty-Seventh 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 Fifty-Seventh 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 Fifty-Seventh Omnibus Objection (Substantive) of 

the Commonwealth of Puerto Rico, the Puerto Rico Highways and Transportation Authority, and 

the Puerto Rico Sales Tax Financing Corporation to Duplicate, Deficient, and/or No Liability 

Bond Claims, dated May 24, 2022 (Docket Entry No. 20969, 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 Fifty-Seventh Omnibus Objection on January 19-20, 2022, and the rulings 

made therein, sustaining the Three Hundred Fifty-Seventh Omnibus Objection as to Proof of Claim 

No. 10607 (the “Claim to Be Heard”) on the grounds that liabilities based on alleged COFINA 

bond ownership were resolved through the COFINA Plan,

3 and to the extent claimants sought to 

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

in the Notice. 

3

 “COFINA Plan” refers to that certain Third Amended Title III Plan of Adjustment of the 

Puerto Rico Sales Tax Financing Corporation [ECF No. 4652]. The COFINA Plan was 

confirmed by this Court on February 4, 2019. See Amended Order and Judgment 

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221004 ORD RE 357TH OMNI OBJ VERSION OCTOBER 4, 2022 3

amend their claim to assert further bond claims, such amendments were denied as futile in light of 

the existence of master proofs of claim; and the Court having determined that the relief sought in 

the Three Hundred Fifty-Seventh Omnibus Objection is in the best interests of the Debtors, their 

creditors, and all parties in interest; and the Court having determined that the legal and factual 

bases set forth in the Three Hundred Fifty-Seventh 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 Fifty-Seventh 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. 17102 in Case No. 17-3283; 

and it is further

 

Confirming the Third Amended Title III Plan of Adjustment of Puerto Rico Sales Tax 

Financing Corporation (Docket Entry No. 5055).

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221004 ORD RE 357TH OMNI OBJ VERSION OCTOBER 4, 2022 4

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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