230818 ORD RE PREPA PLAN-JOINT RPT EXT VERSION AUGUST 18, 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

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

No. 17-BK-4780-LTS

(Jointly Administered)

ORDER PARTIALLY GRANTING URGENT MOTION OF THE FINANCIAL

OVERSIGHT AND MANAGEMENT BOARD FOR PUERTO RICO, AS 

DEBTOR’S TITLE III REPRESENTATIVE, REQUESTING EXTENSION OF FILING 

DEADLINES (A) TO AUGUST 25, 2023, FOR SUBMISSION OF PREPA’S PROPOSED

AMENDED PLAN OF ADJUSTMENT AND RELATED DOCUMENTS AND (B) TO AUGUST 30, 2023,

FOR SUBMISSION OF JOINT STATUS REPORT AND PROPOSED CONFIRMATION SCHEDULE(S) 

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).

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230818 ORD RE PREPA PLAN-JOINT RPT EXT VERSION AUGUST 18, 2023 2

Upon the Urgent Motion of the Financial Oversight and Management Board for 

Puerto Rico, as Debtor’s Title III Representative, Requesting Extension of Filing Deadlines 

(A) to August 25, 2023, for Submission of PREPA’s Proposed Amended Plan of Adjustment and 

Related Documents and (B) to August 30, 2023, for Submission of Joint Status Report and 

Proposed Confirmation Schedule(s) (Docket Entry No. 24909 in Case No. 17-3283 and Docket 

Entry No. 3887 in Case No. 17-4780) (the “Urgent Motion”);

2 and the Court having subject 

matter jurisdiction to consider the Urgent Motion and the relief requested therein pursuant to 

section 306(a) of PROMESA; and it appearing that venue in this district is proper pursuant to 

section 307(a) of PROMESA; and due and proper notice of the Urgent Motion having been 

provided and it appearing that no other or further notice need be provided; and the Court having 

determined the relief sought in the Urgent Motion is in the best interests of the Debtor, its 

creditors, and all parties in interest; and the Court having determined the legal and factual bases 

set forth in the Urgent Motion establish just cause for the relief granted herein, it is hereby 

ORDERED as follows:

3

1. The Urgent Motion is GRANTED, in part, as set forth herein.

2 Capitalized terms used but not otherwise defined herein have the meanings given to them 

in the Urgent Motion.

3 The Court has received and reviewed the objections to the relief requested in the Urgent 

Motion filed by GoldenTree Asset Management, LP (Docket Entry No. 24910 in Case 

No. 17-3283 and Docket Entry No. 3888 in Case No. 17-4780), and Assured Guaranty 

Corp. with Assured Guaranty Municipal Corp. (Docket Entry No. 24911 in Case No. 17-

3283 and Docket Entry No. 3890 in Case No. 17-4780), as well as the statement of the 

Committee (Docket Entry No. 24912 in Case No. 17-3283 and Docket Entry No. 3889 in 

Case No. 17-4780). The objections are overruled and any relief requested therein is 

hereby denied. The Court expects, in light of the number of extensions and the Oversight 

Board’s representations as to the status of its work, that there will be no further requests 

for extensions.

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230818 ORD RE PREPA PLAN-JOINT RPT EXT VERSION AUGUST 18, 2023 3

2. The deadline for the Debtor to file (a) the Third Amended Plan, and (b) an 

Informative Motion concerning its position as to whether approval of an amended or 

supplemental disclosure statement and re-solicitation is necessary, is extended to 

August 25, 2023. 

3. The deadline for the parties to file the Joint Status Report with proposed 

litigation schedule for confirmation proceedings (including a schedule for any necessary 

litigation concerning amended or supplemental disclosure statement and/or re-solicitation) and a 

proposed order implementing that proposed schedule and addressing any additional notice 

requirements or other procedural issues, is extended to August 29, 2023, at 12:00 p.m. (Atlantic 

Standard Time). Any necessary discussion concerning the issues covered in the joint report can 

be heard at the August 30, 2023 omnibus hearing.

4. This Order resolves Docket Entry No. 24909 in Case No. 17-3283 and 

Docket Entry No. 3887 in Case No. 17-4780.

SO ORDERED.

Dated: August 18, 2023

/s/ Laura Taylor Swain 

LAURA TAYLOR SWAIN

United States District Judge

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