UNITED STATES DISTRICT COURT 

FOR THE DISTRICT OF PUERTO RICO 

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 : 

In re: : 

 : 

THE FINANCIAL OVERSIGHT AND : PROMESA 

MANAGEMENT BOARD FOR PUERTO RICO, : Title III 

 : 

as representative of : Case No. 17-BK-3283 (LTS) 

 : 

THE COMMONWEALTH OF PUERTO RICO, et al., : 

: 

(Jointly Administered) 

 Debtors.1

 : 

------------------------------------------------------------------------- x 

 : 

In re: : 

 : 

THE FINANCIAL OVERSIGHT AND : PROMESA 

MANAGEMENT BOARD FOR PUERTO RICO, : Title III 

 : 

 as representative of : Case No. 17-BK-4780 (LTS) 

 : 

PUERTO RICO ELECTRIC POWER AUTHOIRTY, : 

: 

Debtor. : 

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OFFICIAL COMMITTEE OF UNSECURED CREDITORS’ 

RESERVATION OF RIGHTS REGARDING OPENING EXPERT 

DISCLOSURES PURSUANT TO FED. R. CIV. P. 26(a)(2) IN 

CONNECTION WITH PREPA’S TITLE III PLAN OF ADJUSTMENT 

 

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 (“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-5233 (LTS)) (Last Four Digits of Federal Tax ID: 3801) 

(Title III case numbers are listed as Bankruptcy Case numbers due to software limitations). 

Case:17-03283-LTS Doc#:24004 Filed:04/14/23 Entered:04/14/23 17:42:08 Desc: Main

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2 

To the Honorable United States District Judge Laura Taylor Swain: 

Pursuant to Rule 26(a)(2) of the Federal Rules of Civil Procedure, made applicable to 

these proceedings pursuant to Rules 7026 and 9014 of the Federal Rules of Bankruptcy 

Procedures and section 310 of the Puerto Rico Oversight, Management and Economic Stability 

Act, and in accordance with the Amended and Restated Order Establishing, Among Other 

Things, Procedures and Deadlines Concerning Objections to Confirmation and Discovery in 

Connection Therewith [Docket No. 3305] (the “Confirmation Procedures Order”),2

 the Official 

Committee of Unsecured Creditors (the “Committee”), by its counsel, hereby makes the 

following expert disclosures in connection with the Modified Second Amended Title III Plan of 

Adjustment of the Puerto Rico Electric Power Authority [Docket No. 3296] (the “Plan”). 

1. Because the Committee does not intend to object to the feasibility of the Plan in 

its current form,3 the Committee does not presently intend to submit an expert report regarding 

feasibility (or any other topic) on or before the April 28, 2023 deadline set forth in the 

Confirmation Procedures Order. The Committee reserves its right, however, to submit an expert 

report from Julia Frayer of London Economics International LLC (“LEI”)4 and to present her to 

testify at the Confirmation Hearing concerning the Plan’s feasibility and related issues, in the 

event that, at any time for any reason, the Plan is modified or amended to increase the amount of 

the New Bonds (as defined in the Plan) to be issued pursuant to the Plan. The Committee has 

been advised by the Oversight Board that it does not oppose the Committee submitting an expert 

 

2

 Capitalized terms used but not otherwise defined herein have the meanings set forth in the Confirmation 

Procedures Order. 

3

 However, the Committee has several other concerns with the PREPA Plan and currently intends to object to 

confirmation of the Plan in its current form. 

4

 The Court previously approved the Committee’s retention of LEI as its financial advisor in PREPA’s Title III 

case. See Docket No. 2797. 

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3 

report regarding feasibility if and when the Plan is so modified or amended, including after April 

28, 2023, if necessary, depending upon when such modification or amendment occurs. 

3. The Committee also reserves the right to file one or more rebuttal expert reports 

and present one or more rebuttal experts at the Confirmation Hearing, and the Committee will 

make the appropriate disclosures and filings in that regard in accordance with the Confirmation 

Procedures Order. 

[Remainder of page intentionally left blank.]

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Dated: April 14, 2023 

 New York, New York 

/s/ Luc A. Despins 

PAUL HASTINGS LLP 

Nicholas A. Bassett, Esq. (Pro Hac Vice) 

875 15th Street, N.W. 

Washington, D.C. 20005 

Tel: (202) 551-1700 

nicholasbassett@paulhastings.com 

Luc A. Despins, Esq. (Pro Hac Vice) 

G. Alexander Bongartz, Esq. (Pro Hac Vice) 

200 Park Avenue 

New York, New York 10166 

Tel: (212) 318-6000 

lucdespins@paulhastings.com 

alexbongartz@paulhastings.com 

Counsel to the Official Committee of Unsecured 

Creditors 

- and – 

/s/ Juan J. Casillas Ayala 

CASILLAS, SANTIAGO & TORRES LLC 

Juan J. Casillas Ayala, Esq. (USDC - PR 218312) 

Israel Fernández Rodríguez, Esq. (USDC - PR 

225004) 

Juan C. Nieves González, Esq. (USDC - PR 231707) 

Cristina B. Fernández Niggemann, Esq. (USDC - PR 

306008) 

PO Box 195075 

San Juan, Puerto Rico 00919-5075 

Telephone: (787) 523-3434 Fax: (787) 523-3433 

jcasillas@cstlawpr.com 

ifernandez@cstlawpr.com 

jnieves@cstlawpr.com 

crernandez@cstlawpr.com 

Local Counsel to the Official Committee of 

Unsecured Creditors

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