IN THE UNITED STATES BANKRUPTCY 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

(Jointly Administered)

JOINDER OF THE INSTITUTO DE COMPETITIVIDAD Y SOSTENIBILIDAD

ECONÓMICA DE PUERTO RICO (ICSE) OBJECTION TO THE CONFIRMATION OF 

THE PUERTO RICO ELECTRIC POWER AUTHORITY’S ADJUSTMENT PLAN 

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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); and (v) Puerto Rico Electric Power Authority (“PREPA”) (Bankruptcy Case No. 17 

BK 4780-LTS) (Last Four Digits of Federal Tax ID: 3747). (Title III case numbers are listed 

as Bankruptcy Case numbers due to software limitations.)

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TO THE HONORABLE COURT 

COMES NOW the Colegio de Abogados y Abogadas de Puerto Rico (Puerto Rico 

Bar Association), hereinafter “the CAAPR”, through their undersigned attorney and 

respectfully submit this joinder to Instituto De Competitividad y Sostenibilidad 

Económica de Puerto Rico (ICSE) Objection to the confirmation of the Puerto Rico 

Electric Power Authority’s Adjustment Plan (“Adjustment Plan”), Docket No. 3676, ,and 

respectfully aver and prays as follows: 

1. CAAPR is a not-for-profit organization certified as such by the Government of Puerto 

Rico and the Internal Revenue Service of the United States. Its offices are located at 

808 Ponce de León Avenue in San Juan, Puerto Rico, 00907. Its diverse membership 

comprises lawyers who are admitted to the Puerto Rico Bar, legal professionals who 

have yet to gain such admission, and law students hailing from the island's three law 

schools. 

2. Beyond catering to its approximately 3,000 members, the CAAPR extends its legal 

expertise to the broader community of Puerto Rico. It's particularly committed to 

delivering legal education and services to citizens who might otherwise struggle to 

secure proper legal representation or counseling due to financial constraints. 

Furthermore, CAAPR is known as a stalwart defender of public interests. It persistently 

advocates for the rights of Puerto Ricans, stepping up when their human, civil, or 

constitutional rights are under threat, or when their welfare is at risk. 

3. The CAAPR files a special appearance since its participation in the instant case is to 

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voice its objection to the potential approval of the Adjustment Plan and its impact on 

its operations and the overall economy of the Island, and for the reasons set forth 

hereinbelow. CAAPR does not seek to participate further in the instant proceedings in 

any way or form beyond the filing of this motion.

4. The Opposition filed by ICSE shows conclusively that the Adjustment Plan proposed 

by the Fiscal Oversight and Management Board (FOMB) is not feasible for Puerto 

Rico for the following reasons: 

a. The Adjustment Plan is not economically viable. It is not supported by 

reasonable projections and scenarios. Hence, it does not take into 

consideration the real detrimental impact it would have on the economic and 

social development of Puerto Rico, such as a reduction on employment and 

national gross domestic product, as well as a potential increase of the cost of 

living for all energy consumers. The foregoing will affect the ability of PREPA 

to generate enough revenue to pay its debt and finance the pension and the 

modernization of the electric grid.

b. The Adjustment Plan contravenes Puerto Rico’s Public Energy Policy 

regarding reasonable costs, non-discriminatory rates, and renewable 

energy transition. The subsidies proposed by FOMB unfairly impose higher 

and unreasonable burdens on unsubsidized classes such as commercial and 

industrial sectors, contrary to express statutory provisions that prohibit 

discrimination in the imposition of rates and fees. Furthermore, the Adjustment 

Plan does not include any concrete analysis of the legacy charge’s potential 

impacts on the public policy goals, such as the grid modernization and the 

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transition towards renewable energy.

c. The Adjustment Plan wrongfully interferes with the faculties delegated by 

state law to the Puerto Rico Energy Bureau (PREB). The Plan is based on 

rate increases, rate distribution, and unilateral creation of subsidies by FOMB 

for which it has no authority neither in PROMESA or in other 

statutory provisions. Only the PREB can intervene with charges and fees, and 

only the Legislature can authorize subsidies.

5. The CAAPR is keenly aware of the economic frailty of the citizens it serves throughout 

Puerto Rico. Our members are mainly solo practitioners with offices that require the 

constant use of electricity to power its computers and equipment. It may not be 

feasible for an attorney or small firm to absorb the substantial increase in electrical 

rates anticipated with the approval of the Adjustment Plan, forcing many of them to 

pass this increase to the public it serves. This will have a detrimental effect on the 

practice of law insofar as many of those seeking legal representation are of limited 

economic means.

It is also well know that many attorneys offer pro bono publico services to many of the 

indigent citizens of the Island. An increase in the cost of electricity will severely hinder 

their ability to provide free or low-cost legal services to the needy, thus exacerbating 

the access to justice gap in Puerto Rico.

As a service institution, the CAAPR offers a myriad of services to its members, 

including continuing legal education (remotely and in person), counseling and training 

to attorneys, seminars and forums to the general public on diverse legal and social 

issues. Substantially all of these services are offered at the CAAPR’s headquarters in 

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San Juan, and an increase in electricity rates will adversely impact the CAAPR, since 

it will raise the cost of the services provided and force it to limit or eliminate vital

services to our members and the general public.

6. In conclusion, the people of Puerto Rico have a vital interest in PREPA’s prompt 

restructuring. As the Opposition explains, the public interest would be greatly 

undermined if the Honorable Court were to confirm the Adjustment Plan. The relevant 

points of law are comprehensively discussed in the Objection filed by ICSE. Thus, the 

CAAPR files this Joinder only to reiterate ICSE’s conclusion that FOMB has failed to 

present a sustainable Adjustment Plan for PREPA’s debt restructuring, hence it must 

not be confirmed by the Honorable Court.

WHEREFORE, the CAAPR respectfully requests that the Honorable Court take 

notice of the above stated and deny the confirmation of the Adjustment Plan. 

WE HEREBY CERTIFY that on this same date I electronically filed the foregoing 

with the Clerk of the Honorable Court using the CM/ECF system, which will send 

notification of such filing to all participants and Standard Parties. 

In San Juan, Puerto Rico, this 6

th day of June 2023.

/S/ WILBERT LOPEZ MORENO

1272 AVE JESUS T PINERO

SAN JUAN, PUERTO RICO, 00921

787-793-5790

Wilbert_lopez@yahoo.com

Bar number- 202707

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