UNITED STATES DISTRICT COURT

FOR THE DISTRICT OF PUERTO RICO

INFORMATIVE MOTION OF THE 

FINANCIAL OVERSIGHT AND MANAGEMENT BOARD 

REGARDING AGREEMENT IN PRINCIPLE BETWEEN THE

OVERSIGHT BOARD AND NATIONAL PUBLIC FINANANCE CORPORATION

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 

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

Financing Corporation (Bankruptcy Case No. 17-BK-3284-LTS) (Last Four Digits of Federal Tax ID: 8474); (iii) 

Puerto Rico Highways and Transportation Authority (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 

(Bankruptcy Case No. 17-BK-3566-LTS) (Last Four Digits of Federal Tax ID: 9686); (v) Puerto Rico Electric Power 

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

Public Buildings Authority (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).

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

Case No. 17-BK-3283-LTS

(Jointly Administered)

In re: 

THE FINANCIAL OVERSIGHT AND 

MANAGEMENT BOARD FOR PUERTO RICO, 

as representative of

PUERTO RICO ELECTRIC POWER AUTHORITY, 

 

Debtor.

PROMESA Title III

Case No. 17-BK-4780-LTS

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To The Honorable United States District Court Judge Laura Taylor Swain:

The Financial Oversight and Management Board for Puerto Rico (the “Oversight Board”), 

as sole Title III representative of the Puerto Rico Electric Power Authority (“PREPA”) in this Title 

III case pursuant to section 315(b) of the Puerto Rico Oversight, Management and Economic 

Stability Act (“PROMESA”),2respectfully submits this informative motion (this “Informative 

Motion”) in connection with an agreement in principle with one of PREPA’s creditors, and 

respectfully states as follows:

1. The Oversight Board and National Public Finance Guarantee Corporation have 

reached an agreement in principle on the terms of a settlement between the two parties that will be 

incorporated into the Title III Plan of Adjustment for PREPA. The parties’ agreement in principle

remains subject to documentation. After the parties agree to final documentation, the Oversight 

Board will amend its Plan of Adjustment to reflect the parties’ settlement.

[Remainder of page intentionally left blank]

2 PROMESA is codified at 48 U.S.C §§ 2101–2241.

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WHEREFORE, the Oversight Board respectfully requests that the Court take notice of 

this Informative Motion.

Dated: December 16, 2022

San Juan, Puerto Rico

Respectfully submitted,

/s/ Martin J. Bienenstock

Martin J. Bienenstock

Margaret A. Dale

Michael T. Mervis

Paul V. Possinger

Ehud Barak

Daniel S. Desatnik

(Admitted Pro Hac Vice)

PROSKAUER ROSE LLP

Eleven Times Square

New York, NY 10036

Tel: (212) 969-3000

Fax: (212) 969-2900

Attorneys for the Financial 

Oversight and Management Board 

as representative for PREPA

/s/ Hermann D. Bauer 

Hermann D. Bauer

USDC No. 215205

O’NEILL & BORGES LLC

250 Muñoz Rivera Ave., Suite 800

San Juan, PR 00918-1813

Tel: (787) 764-8181

Fax: (787) 753-8944

Email: hermann.bauer@oneillborges.com

Co-Attorney for the Financial Oversight and 

Management Board as representative for 

PREPA

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CERTIFICATE OF SERVICE

I hereby certify that, on this same date, I electronically filed the foregoing with the Clerk 

of the Court using the CM/ECF system, which will send notifications of such filing to all CM/ECF 

participants in this case.

/s/ Hermann D. Bauer

Hermann D. Bauer

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