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

 : 

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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-4780 (LTS) 

 : 

PUERTO RICO ELECTRIC POWER AUTHOIRTY, : 

: 

Debtor. : 

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NOTICE OF OFFICIAL COMMITTEE OF UNSECURED CREDITORS 

REGARDING DEPOSITIONS, PURSUANT TO FED. R. CIV. P. 30, 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). 

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PLEASE TAKE NOTICE that, pursuant to Rule 30 of the Federal Rules of Civil 

Procedure, made applicable to these proceedings pursuant to Rules 7030 and 9014 of the Federal 

Rules of Bankruptcy Procedures and section 310 of the Puerto Rico Oversight, Management and 

Economic Stability Act, the Official Committee of Unsecured Creditors (the “Committee”)2

 will 

take the depositions upon oral examination of: 

 The same persons, and at the same dates, times, and locations, set forth in the 

First Amended Notice of Depositions Pursuant to Fed. R. Civ. P. 30 by the Ad 

Hoc Group of PREPA Bondholders, Assured Guaranty Corp., Assured Guaranty 

Municipal Corp., Syncora Guarantee, Inc., and U.S. Bank National Association, 

in Connection with PREPA’s Title III Plan of Adjustment [Docket No. 3405],3

 or 

at such other times and places as agreed upon by the parties (within the topics 

identified for each of those persons to be deposed, the Committee is expanding 

“certain bondholders” to “certain unsecured creditors (including but not limited 

to those with whom no settlement has been reached)”); 

 The organizational representative(s) of, and to be designated by, the Financial 

Oversight and Management Board for Puerto Rico,4 to commence on May 16, 

2023 at 9:00 a.m. (ET) at the offices of Paul Hastings LLP, 200 Park Avenue 

New York, NY 10166, or at such other times and places as agreed upon by the 

parties, on each of the following topics: 

 

2

 Any capitalized terms not defined herein shall have the meaning ascribed to them in the Plan or Disclosure 

Statement (as defined below). 

3

 Unless otherwise specified, references to the docket are to Case No. 17-BK-04780-LTS. 

4

 Pursuant to Rule 30(b)(6) of the Federal Rules of Civil Procedure, made applicable to these proceedings 

pursuant to Rules 7030 and 9014 of the Federal Rules of Bankruptcy Procedures and section 310 of the Puerto 

Rico Oversight, Management and Economic Stability Act. 

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i. The estimated value, range of potential values, and cap applicable to 

General Unsecured Claims; 

ii. Legacy Charge Revenues and post-Petition modifications of rates 

(including the structure of rates) charged to PREPA customers; 

iii. Characteristics of the Series A Bonds and Series B Bonds, including in 

comparison of each’s attributes to the other; 

iv. The Fuel Line Lender PSA, including all of the proposed settlements 

embodied within the Fuel Line Lender PSA, qualification of any claim by 

the Fuel Line Lenders and Committee as Current Expenses (as defined in 

the Trust Agreement), applicability or inapplicability of Current Expenses 

to the Committee, PREPA’s determination of (and discretion in 

determining qualification of) claims as Current Expenses, and whether the 

Fuel Line Lender PSA is in the best interests of creditors; 

v. The rationale for treating the general unsecured creditors differently from 

the Fuel Line Lenders as it relates to payment of, or priority of, Current 

Expenses; 

vi. The National PSA and National Settlement, including whether the 

foregoing are in the best interests of creditors, the components of the 

foregoing (e.g., the National Reimbursement Claim, National Insured 

Bonds Claims, and the structuring fees described in Article II.D.2 of the 

Plan), and the explanation for the change in position as to National being 

entitled to any recovery or recourse beyond the Sinking Fund; 

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vii. Assets of PREPA available for the repayment of creditors, including 

whether assets are “essential” to operations of, or provide an “essential 

service” of, the Debtor; 

viii. The Avoidance Actions Trust, including the litigations and claims 

transferred and not transferred to that trust (and the estimated value 

thereof); 

ix. ACR Procedures; 

x. Payments made relating to pre-Petition unsecured claims, including 

records and documents memorializing such payments, and decisions to 

pay, or not to pay, any pre-Petition unsecured claims. 

 Mark Shankweiler of Berkeley Research Group, to commence on May 22, 

2023 at 9:00 a.m. (ET) at the offices of Paul Hastings LLP, 200 Park Avenue 

New York, NY 10166, or at such other times and places as agreed upon by the 

parties. The topics of Mr. Shankweiler’s deposition will include, without 

limitation, the estimate of General Unsecured Claims, the Modified Second 

Amended Title III Plan of Adjustment of the Puerto Rico Electric Power 

Authority [Docket No. 3296] (as it may be amended modified, or supplemented, 

the “Plan”), the Disclosure Statement for the Modified Second Amended Title III 

Plan of Adjustment of the Puerto Rico Electric Power Authority [Docket No. 

3297] (as it may be amended modified, or supplemented, the “Disclosure 

Statement”), any work performed by Mr. Shankweiler in connection with the 

Plan or the Disclosure Statement, whether the Plan is in the best interest of 

creditors, whether the Plan unfairly discriminates against certain unsecured 

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creditors (including but not limited to those with whom no settlement has been 

reached), whether the Plan is fair and equitable, whether and under what other 

conditions the Plan could be made effective and consummated, whether the Plan 

was proposed in good faith, the Legacy Charge, the 2019 RSA, the New Bonds, 

and any other topic Mr. Shankweiler may reasonably be assumed to have 

knowledge about relevant to the Plan’s confirmability. 

 Justin Peterson – to commence on May 23, 2023 at 9:00 a.m. (ET) at the 

offices of Paul Hastings LLP, 200 Park Avenue New York, NY 10166, or at such 

other times and places as agreed upon by the parties. The topics of Mr. 

Peterson’s deposition will include, without limitation, the Plan, the Disclosure 

Statement, Mr. Peterson’s prior statements regarding the foregoing and payment 

of creditors, whether the Plan is in the best interest of creditors, whether the Plan 

unfairly discriminates against certain unsecured creditors (including but not 

limited to those with whom no settlement has been reached), whether the Plan is 

fair and equitable, whether and under what other conditions the Plan could be 

made effective and consummated, whether the Plan was proposed in good faith, 

the Legacy Charge, the 2019 RSA, the New Bonds, and any other topic Mr. 

Peterson may reasonably be assumed to have knowledge about relevant to the 

Plan’s confirmability. 

PLEASE TAKE FURTHER NOTICE that the Committee reserves the right to notice 

additional depositions in accordance with in the Amended and Restated Order Establishing, 

Among Other Things, Procedures and Deadlines Concerning Objections to Confirmation and 

Discovery in Connection Therewith [Docket No. 3305]. 

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Dated: April 28, 2023 

 New York, New York 

/s/ G. Alexander Bongartz 

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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