221004 ORD RE 309TH 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 NINTH OMNIBUS OBJECTION 

(SUBSTANTIVE) OF THE COMMONWEALTH OF PUERTO RICO TO CLAIMS THAT 

ARE PARTIALLY DEFICIENT AND PARTIALLY BASED ON GDB BONDS

Upon the Three Hundred Ninth Omnibus Objection (Substantive) of the 

Commonwealth of Puerto Rico to Claims That Are Partially Deficient and Partially Based on GDB 

Bonds (Docket Entry No. 16027) (the “Three Hundred Ninth Omnibus Objection”), filed by the 

Commonwealth of Puerto Rico (the “Commonwealth”), dated March 12, 2021, for entry of an 

order disallowing in their entirety certain claims filed against the Commonwealth, as more fully 

 

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 309TH OMNI OBJ VERSION OCTOBER 4, 2022 2

set forth in the Three Hundred Ninth Omnibus Objection and supporting exhibits thereto; and the 

Court having jurisdiction to consider the Three Hundred Ninth 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 Ninth 

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 Ninth Omnibus Objection (Substantive) of the Commonwealth of Puerto Rico to Claims 

That Are Partially Deficient and Partially Based on GDB Bonds, dated May 24, 2022 (Docket 

Entry No. 20957, 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 Ninth Omnibus Objection 

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

Omnibus Objection as to Proof of Claim No. 3078 (the “Claim to Be Heard”) on the grounds that 

it asserted (i) bonds issued by the Government Development Bank for which the Commonwealth 

is not liable and (ii) bonds issued by the Employees Retirement System of the Government of the 

Commonwealth of Puerto Rico (“ERS”) which are duplicative of a master claim filed on behalf of 

all holders of ERS bonds; and the Court having determined that the relief sought in the Three 

Hundred Ninth Omnibus Objection is in the best interests of the Commonwealth, its creditors, and 

all parties in interest; and the Court having determined that the legal and factual bases set forth in 

the Three Hundred Ninth Omnibus Objection establish just cause for the relief granted herein; and 

after due deliberation and sufficient cause appearing therefor, it is hereby:

 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 309TH OMNI OBJ VERSION OCTOBER 4, 2022 3

ORDERED that the Three Hundred Ninth 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. 16027 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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