230331 ORD RE TERMINATE PREPA MATTERS VERSION MARCH 31, 2023 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

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

ORDER TERMINATING CERTAIN MOTIONS IN CONNECTION WITH 

(I) THE TERMINATION OF THE PREPA RESTRUCTURING SUPPORT 

AGREEMENT AND (II) THE MOTION TO DISMISS PREPA’S TITLE III CASE

On March 8, 2022, the Puerto Rico Fiscal Agency and Financial Advisory 

Authority filed an informative motion stating that it had exercised its right to terminate the

Definitive Restructuring Support Agreement dated May 3, 2019. (See Docket Entry No. 20277

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-BK3283-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).

Case:17-03283-LTS Doc#:23906 Filed:03/31/23 Entered:03/31/23 14:09:14 Desc: Main

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230331 ORD RE TERMINATE PREPA MATTERS VERSION MARCH 31, 2023 2

in Case No. 17-3283 and Docket Entry No. 2747 in Case No. 17-4780.) On September 19, 2022, 

certain parties in interest filed the Motion of the Ad Hoc Group of PREPA Bondholders, Assured 

Guaranty Corp., Assured Guaranty Municipal Corp., National Public Finance Guarantee 

Corporation, and Syncora Guarantee, Inc. to Dismiss PREPA’s Title III Case, or for Relief from 

the Automatic Stay to Enforce Their Right to a Receiver (Docket Entry No. 22291 in Case No. 

17-3283 and Docket Entry No. 2973 in Case No. 17-4780). On December 16, 2022, the 

Financial Management and Oversight Board for Puerto Rico filed proposed Title III Plan of 

Adjustment of the Puerto Rico Electric Power Authority (Docket Entry No. 3110 in Case No. 17-

4780) and, on March 3, 2023, the Court entered the Order (I) Approving Disclosure Statement, 

(II) Fixing Voting Record Date, (III) Approving Confirmation Hearing Notice and Confirmation 

Schedule, (IV) Approving Solicitation Packages and Distribution Procedures, (V) Approving 

Forms of Ballots and Voting and Election Procedures, (VI) Approving Notice of Non-Voting 

Status, (VII) Fixing Voting, Election, and Confirmation Deadlines, and (VIII) Approving Vote 

Tabulation Procedures. (Docket Entry No. 3132 in Case No. 17-4780.)

In light of the above, the following motions (the “Matters”) are hereby 

administratively terminated and closed for statistical purposes: (i) the Motion of National Public 

Finance Guarantee Corporation, Assured Guaranty Corp., Assured Municipal Corp., and 

Syncora Guarantee Inc. for Relief from the Automatic Stay to Allow Movants to Enforce their 

Statutory Right to Have a Receiver Appointed (Docket Entry No. 4009 in Case No. 17-3283 and 

Docket Entry No. 975 in Case No. 17-4780), (ii) the Financial Oversight and Management 

Board and AAFAF’s Memorandum of Law in Support of Motion Pursuant to Fed. R. Civ. P. 

12(b)(6) to Dismiss Insurers’ Motion for Relief from the Automatic Stay to Seek Appointment of 

a Receiver (Docket Entry No. 1233 in Case No. 17-4780), and (iii) Joint Motion of Puerto Rico 

Electric Power Authority and AAFAF Pursuant to Bankruptcy Code Sections 362, 502, 922, and 

928, and Bankruptcy Rules 3012(a)(1) and 9019 for Order Approving Settlements Embodied in 

the Restructuring Support Agreement and Tolling Certain Limitations Periods (Docket Entry No. 

1235 in Case No. 17-4780). For the avoidance of doubt, the parties are advised that such action 

is for the Court’s statistical purposes only, is not a disposition of the merits of the Matters, and is 

without prejudice to the rights and positions of all parties. Parties may file a motion requesting 

the reinstatement of any Matter.

SO ORDERED.

Dated: March 31, 2023

 /s/ Laura Taylor Swain

LAURA TAYLOR SWAIN

United States District Judge

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