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)

THIRD OMNIBUS ORDER GRANTING RELIEF FROM THE AUTOMATIC STAY

Upon the Debtors’ Third Omnibus Motion Seeking Approval of Stipulations Modifying 

the Automatic Stay (the “Motion”);2and the Court having found it has subject matter jurisdiction 

over this matter pursuant to PROMESA section 306; and it appearing that venue in this district is 

proper pursuant to PROMESA section 307; and the Court having found that the relief requested 

in the Motion is in the best interests of the Debtors, their creditors, and other parties in interest; 

and the Court having found that the Debtors provided adequate and appropriate notice of the 

Motion under the circumstances and that no other or further notice is required; and the Court 

having reviewed the Motion; and the Court having determined that the legal and factual bases set 

forth in the Motion establish just cause for the relief granted herein; and any objections to the 

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).

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

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relief requested herein having been withdrawn or overruled on the merits; and after due 

deliberation and sufficient cause appearing therefor, it is HEREBY ORDERED THAT:

1. The Motion is granted as set forth herein.

2. Pursuant to Bankruptcy Code sections 362(d)(1) and 105(a), made

applicable to the Title III cases by PROMESA section 301(a), the Title III Stay is modified as set 

forth in the attached Exhibit 1 for matters subject to prior stipulations among or between the 

applicable Debtor and counterparty(ies), nunc pro tunc to the dates specified therein.

3. Pursuant to Bankruptcy Code sections 362(d)(1) and 105(a), the Title III

Stay is modified as set forth in the attached Exhibit 2 for administrative employment matters 

against ERS, nunc pro tunc to April 20, 2018 (the date of the Motion).

4. All rights, defenses, and protections of each of the Debtors with respect to

any matters pending or that may arise in their respective Title III Cases, including the treatment 

of any claim arising from the matters set forth on Exhibits 1 and 2 hereof under a plan of 

adjustment or otherwise in the Title III Case are hereby reserved. Nothing in this Order or the 

Debtors’ consent to stay modification as set forth in the Motion shall be deemed to be, or 

construed as, (a) an admission by any party of any liability, wrongdoing, act, or matter or that 

any claim or defense has or lacks merit; (b) a waiver of the Debtors’ rights to dispute, contest, 

setoff, or recoup any claim, including any claims asserted in the subject actions, or assert any 

related rights, claims, or defenses and all such rights are reserved; or (c) an approval or 

assumption of any agreement or contract between the parties under Bankruptcy Code section 

365. 

5. Notwithstanding any applicability of any Federal Rule of Bankruptcy

Procedure, the terms and conditions of this Order shall be immediately effective and enforceable 

upon its entry.

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6. The Court shall retain jurisdiction to hear and determine all matters

(a) arising from or related to the implementation, enforcement, or interpretation of this Order and 

(b) concerning the execution or enforcement in the Title III cases of any judgment entered in a 

prepetition ordinary course civil action where the Debtors agreed to modify or lift the Title 

III Stay to allow the action to proceed to judgment by the underlying court. 

SO ORDERED.

HONORABLE LAURA TAYLOR SWAIN

 UNITED STATES DISTRICT JUDGE

Dated: April 23, 2018 /s/ Laura Taylor Swain

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