Proposed Order

Case:17-03283-LTS Doc#:24601-5 Filed:06/16/23 Entered:06/16/23 17:41:41 Desc:

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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 

This Application relates only to 

PREPA, and shall be filed in the 

lead Case No. 17–BK–3283–LTS, 

and PREPA’s Title III Case 

(Case No. 17–BK–4780–LTS) 

ORDER APPROVING 

FIFTEENTH INTERIM FEE APPLICATION 

OF PROSKAUER ROSE LLP FOR COMPENSATION 

FOR SERVICES RENDERED AND REIMBURSEMENT OF EXPENSES 

INCURRED AS ATTORNEYS FOR THE FINANCIAL OVERSIGHT AND 

MANAGEMENT BOARD FOR PUERTO RICO, AS TITLE III REPRESENTATIVE 

OF THE DEBTOR, PUERTO RICO ELECTRIC POWER AUTHORITY, FOR THE 

PERIOD FEBRUARY 1, 2022 THROUGH MAY 31, 2022 

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-BK3567-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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Upon the application (the “Application”) 2 of Proskauer Rose LLP (“Proskauer”), as 

attorneys for the Financial Oversight and Management Board for Puerto Rico (the “Oversight 

Board”) acting as Title III representative of the Puerto Rico Electric Power Authority (the 

“Debtor”) under section 315(b) of the Puerto Rico Oversight, Management, and Economic 

Stability Act (“PROMESA”),3 seeking, pursuant to (a) PROMESA sections 316 and 317, (b) 

Rule 2016 of the Federal Rules of Bankruptcy Procedure, (c) Local Rule 2016–1, (d) the United 

States Trustee Guidelines for Reviewing Applications for Compensation and Reimbursement of 

Expenses Filed under 11 U.S.C. § 330 by Attorneys in Larger Chapter 11 Cases issued by the 

Executive Office for the United States Trustee, 28 CFR Part 58, Appendix B, and (e) this Court’s 

Third Amended Order Setting Procedures for Interim and Final Compensation and 

Reimbursement of Expenses of Professionals [ECF No. 20546], allowance of interim 

compensation for professional services rendered by Proskauer for the period commencing 

February 1, 2022, through and including May 31, 2022, in the amount of $4,245,847.80, and 

reimbursement of its actual and necessary expenses in the amount of $133,935.28 incurred 

during the Compensation Period; and, this Court having determined that the legal and factual 

bases set forth in the Application establish just cause for the relief granted herein; and after due 

deliberation and sufficient cause appearing therefore, it is hereby ORDERED that: 

1. The Application is GRANTED as set forth herein. 

2. Compensation to Proskauer for professional services rendered during the 

Compensation Period is allowed on an interim basis in the amount of $4,245,847.80. 

3. Reimbursement to Proskauer for expenses incurred during the Compensation 

Period is allowed on an interim basis in the amount of $133,935.28. 

2

 Capitalized terms not defined in this order will have the meanings ascribed to them in the Application. 

3

 PROMESA has been codified in 48 U.S.C. §§ 2101-2241. 

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4. The Debtor is authorized and directed to pay Proskauer all fees and expenses 

allowed pursuant to this order within fifteen (15) days of the entry of this order, including those 

that were previously held back pursuant to the Interim Compensation Order, less any amounts 

previously paid for such fees and expenses under the terms of the Interim Compensation Order. 

5. The compensation for professional services rendered and reimbursement of actual 

and necessary expenses incurred allowed pursuant to this order is without prejudice to 

Proskauer’s right to seek additional compensation for services performed and expenses incurred 

during the Compensation Period, which were not processed at the time of the Application or 

which represent the incremental fees identified in the Summary Sheets. 

6. The Debtor is authorized to take all actions necessary to effectuate the relief 

granted pursuant to this order in accordance with the Application. 

Dated: , 2023 

 San Juan, Puerto Rico 

 

Honorable Laura Taylor Swain 

United States District Judge 

Case:17-03283-LTS Doc#:24601-5 Filed:06/16/23 Entered:06/16/23 17:41:41 Desc:

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