UNITED STATES DISTRICT COURT 

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) 

SECOND SUPPLEMENTAL VERIFIED STATEMENT 

OF THE AD HOC GROUP OF GENERAL OBLIGATION 

BONDHOLDERS PURSUANT TO BANKRUPTCY RULE 2019 

Pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure (the 

“Bankruptcy Rules”), made applicable to these Title III cases by Section 310 of the Puerto Rico 

Oversight, Management, and Economic Stability Act (“PROMESA”), 48 U.S.C. § 2170, and in 

accordance with the Order Further Amending Case Management Procedures [ECF No. 2839] 

(the “Amended Case Management Order”), this second supplemental verified statement (this 

“Second Supplemental Statement”) is submitted by certain holders (the “Ad Hoc Group of 

General Obligation Bondholders”)2 of bonds issued or guaranteed by the Commonwealth of 

Puerto Rico (the “General Obligation Bonds”).

 

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 (the “Commonwealth”) (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 

(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). 

2

 The Ad Hoc Group of General Obligation Bondholders consists of: (i) Aurelius Capital Management, LP, on 

behalf of its managed entities; (ii) Autonomy Capital (Jersey) LP, on behalf of certain of its affiliated 

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In support of this Second Supplemental Statement, the Ad Hoc Group of General 

Obligation Bondholders respectfully states as follows:

1. In or around July 2015, certain members of the Ad Hoc Group of General 

Obligation Bondholders engaged Paul, Weiss, Rifkind, Wharton & Garrison LLP (“Paul, 

Weiss”) and Robbins, Russell, Englert, Orseck, Untereiner & Sauber LLP (“Robbins, Russell”) 

to represent their interests as holders of General Obligation Bonds. From time to time thereafter, 

certain additional holders of General Obligation Bonds have joined the Ad Hoc Group of 

General Obligation Bondholders. In October 2016, the Ad Hoc Group of General Obligation 

Bondholders retained Jiménez, Graffam & Lausell, as its Puerto Rico counsel (together with 

Paul, Weiss and Robbins, Russell, “Counsel”). 

2. On July 13, 2017, Counsel submitted the Verified Statement of the Ad Hoc 

Group of General Obligation Bondholders Pursuant to Bankruptcy Rule 2019 [ECF No. 630] 

(the “Initial Verified Statement”). 

3. On November 3, 2017, Counsel submitted the First Supplemental Verified 

Statement of the Ad Hoc Group of General Obligation Bondholders Pursuant to Bankruptcy Rule 

2019 [ECF No. 1625] (the “First Supplemental Statement”). 

4. Counsel submits this Second Supplemental Statement to update the 

disclosable economic interests currently held by the Ad Hoc Group of General Obligation 

Bondholders in accordance with the Amended Case Management Order. 

5. The members of the Ad Hoc Group of General Obligation Bondholders 

hold disclosable economic interests, or act as investment advisors or managers to funds, entities 

 investment funds; and (iii) Monarch Alternative Capital LP, on behalf of certain of the funds and accounts it 

manages. The Ad Hoc Group of General Obligation Bondholders does not assume any fiduciary or other duties 

to any other creditor or person. 

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and/or accounts or their respective affiliates that hold disclosable economic interests in relation 

to the Commonwealth. In accordance with Bankruptcy Rule 2019 and based upon information 

provided to Counsel by each member of the Ad Hoc Group of General Obligation Bondholders, 

attached hereto as Exhibit A is a list of the names, addresses and nature and amount of each 

disclosable economic interest of each present member of the Ad Hoc Group of General 

Obligation Bondholders.3

 

6. As of the date of this Second Supplemental Statement, Counsel represents 

only the Ad Hoc Group of General Obligation Bondholders and does not represent or purport to 

represent any other entities with respect to the Debtors’ Title III cases. In addition, each member 

of the Ad Hoc Group of General Obligation Bondholders (a) does not assume any fiduciary or 

other duties to any other creditor or person and (b) does not purport to act, represent or speak on 

behalf of any other entities in connection with the Debtors’ Title III cases. 

7. Nothing contained in this Second Supplemental Statement (or Exhibit A 

hereto) is intended to or should be construed to constitute (a) a waiver or release of any claims 

filed or to be filed against or interests in the Debtors held by any member of the Ad Hoc Group 

of General Obligation Bondholders, its affiliates or any other entity, or (b) an admission with 

respect to any fact or legal theory. Nothing herein should be construed as a limitation upon, or 

waiver of, any rights of any member of the Ad Hoc Group of General Obligation Bondholders to 

assert, file and/or amend any proof of claim in accordance with applicable law and any orders 

entered in these cases. 

8. Additional holders of General Obligation Bonds may become members of 

the Ad Hoc Group of General Obligation Bondholders, and certain members of the Ad Hoc 

 

3

 Individuals associated with members of the Ad Hoc Group of General Obligation Bondholders may own debt of 

the Debtors in their individual capacities, but Counsel does not represent such individuals in such capacities. 

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Group of General Obligation Bondholders may cease to be members in the future. Counsel 

reserves the right to further amend or supplement this Second Supplemental Statement as 

necessary for that or any other reason in accordance with Bankruptcy Rule 2019. 

[Remainder of Page Intentionally Left Blank] 

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9. The undersigned verify that the foregoing is true and correct to the best of 

their knowledge. 

Dated: San Juan, Puerto Rico 

 June 21, 2018 

 

PAUL, WEISS, RIFKIND, WHARTON &

GARRISON LLP 

/s/ Andrew N. Rosenberg 

Andrew N. Rosenberg (pro hac vice) 

Richard A. Rosen (pro hac vice) 

Walter Rieman (pro hac vice) 

Kyle J. Kimpler (pro hac vice) 

Karen R. Zeituni (pro hac vice) 

1285 Avenue of the Americas 

New York, NY 10019 

Telephone: (212) 373-3000 

Facsimile: (212) 757-3990 

E-Mail: arosenberg@paulweiss.com 

 

ROBBINS, RUSSELL, ENGLERT, ORSECK,

UNTEREINER & SAUBER LLP 

/s/ Mark T Stancil 

Lawrence S. Robbins (admitted pro hac vice) 

Mark T. Stancil (admitted pro hac vice) 

Gary A. Orseck (admitted pro hac vice) 

Kathryn S. Zecca (admitted pro hac vice) 

Ariel N. Lavinbuk (admitted pro hac vice) 

Donald Burke (admitted pro hac vice) 

1801 K Street, NW 

Washington, D.C. 20006 

Telephone: (202) 775-4500 

Facsimile: (202) 775-4510 

E-Mail: mstancil@robbinsrussell.com 

JIMÉNEZ, GRAFFAM & LAUSELL

/s/ Ramón Rivera Morales 

J. Ramón Rivera Morales 

USDC-PR Bar No. 200701 

PO Box 366104 

San Juan, PR 00936-6104 

Telephone: (787) 767-1030 

Facsimile: (787) 751-4068 

E-Mail: rrivera@jgl.com 

Counsel to the Ad Hoc Group of General Obligation Bondholders

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EXHIBIT A 

Names, Addresses and Disclosable Economic Interests of the Members 

of the Ad Hoc Group of General Obligation Bondholders1

Name of Creditor2 Address Nature and Amount of Disclosable E

Aurelius Capital Management, LP 535 Madison Avenue 

New York, NY 10022 

 $492,735,495 in General Obligation B $65,342,833 in General Obligation Bo

monoline insurer)3

Autonomy Capital (Jersey) LP 7-9 Conway Street 

Conway House, 2nd Floor Saint Helier, Jersey JE2 3NT 

 $1,037,868,000 in General Obligation 

Monarch Alternative Capital LP 535 Madison Avenue 

26th Floor New York, NY 10022 

 $313,544,045 in General Obligation B $34,595,000 in General Obligation Bo

monoline insurer)3

1 To the best of Counsel’s knowledge, the information included herein is accurate as of June 18, 2018. The amounts set forth herei

principal and do not include overdue interest, interest on overdue interest and principal, and accrued interest or other amounts thaapplicable debt documents and laws. In addition, the amounts set forth herein do not include any disclosable economic interests th

not yet settled or closed as of June 18, 2018. 

2 Each entity on this Exhibit A holds disclosable economic interests, or acts as investment advisor or manager to funds, entitie

respective subsidiaries that hold disclosable economic interests, in relation to the Commonwealth. 

3 The amounts set forth herein reflect payments made by the monoline insurer on account of such General Obligation Bonds. 

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