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

Case No. 17 BK 3283-LTS

(Jointly Administered)

Re: ECF Nos. 2962, 2971

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

This Informative Motion relates 

only to PREPA

JOINT INFORMATIVE MOTION IN CONNECTION 

WITH SUCESIÓN SASTRE WIRSHING’S MOTION FOR RELIEF OF STAY

To the Honorable United States District Judge Laura Taylor Swain:

1. The Puerto Rico Electric Power Authority (“PREPA”), by and through the 

Financial Oversight and Management Board for Puerto Rico (the “Oversight Board”) as PREPA’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 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 04780-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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sole representative pursuant to section 315(b) of the Puerto Rico Oversight, Management and 

Economic Stability Act (“PROMESA”), 48 U.S.C. §§ 2101–2241,2and the Puerto Rico Fiscal 

Agency and Financial Advisory Authority (“AAFAF”), and Sucesión Sastre Wirshing (the 

“Movant”) respectfully submit this informative motion to inform the court that PREPA and the 

Movant have consensually resolved the Motion for Relief from Stay (the “Stay Motion”) [Case 

No. 17-bk-03283, ECF No. 2962] filed by the Movant. 

Background

1. On April 26, 2018, the Movant filed the Stay Motion.

2. On April 27, 2018, the Court entered the Order Scheduling Briefing of Motion for 

Relief of Stay [Case No. 17-bk-03283, ECF No. 2971] setting forth the following objection and 

reply deadlines in connection with the Stay Motion:

a. Any opposition is due on May 10, 2018.

b. Any reply is due on May 17, 2018.

3. On May 10, 2018, PREPA and the Movant entered into a stipulation to resolve the 

Stay Motion in its entirety. The executed stipulation is attached hereto as Exhibit A.

[Remainder of the page is intentionally left blank.]

 

2 The Oversight Board has authorized AAFAF to file this Joint Informative Motion on behalf of PREPA.

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Dated: May 10, 2018 Respectfully Submitted,

/s/ Kevin D. Finger_________ /s/ María E. Vicens Rivera

Nancy A. Mitchell (Admitted Pro Hac Vice) MARÍA E. VICENS RIVERA

Nathan A. Haynes (Admitted Pro Hac Vice) USDC-PR 226711

GREENBERG TRAURIG LLP 9140 Marina St. Suite 801

MetLife Building Ponce, PR 00717

200 Park Avenue Tel. / Fax. (787) 259-1999

New York, NY 10166 Email: mevicens@yahoo.com

Tel: (212) 801-9200

Fax: (212) 801-6400 Attorneys for Sucesión Sastre Wirshing

Email: mitchelln@gtlaw.com

 haynesn@gtlaw.com

David D. Cleary (admitted pro hac vice)

Kevin D. Finger (admitted pro hac vice)

Greenberg Traurig, LLP

77 West Wacker Drive

Suite 3100

Chicago, IL 60601

Tel: (312) 456-8400

Fax: (312) 456-8435

Email: clearyd@gtlaw.com

 fingerk@gtlaw.com

Joseph P. Davis III (admitted pro hac vice)

Greenberg Traurig, LLP

One International Place, Suite 2000

Boston, MA 02110

Tel: (617) 310-6000

Fax: (617) 310-6001

Email: davisjo@gtlaw.com

Attorneys for Puerto Rico Fiscal Agency and Financial Advisory Authority

/s/ Katiuska Bolaños-Lugo_________

Arturo Diaz-Angueira (USDC No. 117907)

Katiuska Bolaños-Lugo (USDC No. 231812)

CANCIO, NADAL, RIVERA & DIAZ, PSC

403 Muñoz Rivera Ave.

San Juan, PR 00918-3345

Tel: (787) 767-9625

Fax: (787) 622-2230

Email: adiaz@cnrd.com

kbolanos@cnrd.com

Attorneys for Puerto Rico Electric Power Authority

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CERTIFICATION

I hereby certify that an electronic copy of the foregoing was filed with the Clerk of the 

Court using the CM/ECF system, which will send notification of such filing to all parties of 

record in the captioned case.

/s/ Kevin D. Finger

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Exhibit A

Stipulation

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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)

Re: ECF. Nos. 2962, 2971

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

This Stipulation relates only to 

PREPA

STIPULATION MODIFYING THE AUTOMATIC 

STAY BETWEEN THE PUERTO RICO ELECTRIC

POWER AUTHORITY AND SUCESIÓN SASTRE WIRSHING

 

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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This stipulation (the “Stipulation”) is made as of May 10, 2018, by and between Debtor 

the Puerto Rico Electric Power Authority (“PREPA”) and Sucesión Sastre Wirshing (the

“Movant”).

2

RECITALS

WHEREAS, on July 2, 2017, PREPA, by and through the Oversight Board, as PREPA’s 

representative pursuant to PROMESA section 315(b), filed a petition with the United States

District Court for the District of Puerto Rico (the “District Court”) under title III of PROMESA

(the “Title III Case”);

WHEREAS, on August 17, 2017, as amended on October 24, 2017 and April 4, 2018,

the District Court entered the Order Amending Case Management Procedures (the “Case 

Management Order”), which revised the Notice, Case Management and Administrative 

Procedures to implement a protocol (the “Lift Stay Protocol”) for filing motions for relief from 

the automatic stay set forth in Bankruptcy Code sections 362(a) and 922(a),3 made applicable to 

the Title III Case by PROMESA section 301(a) (the “Title III Stay”) [Case No. 17-bk-3283; ECF 

Nos. 1065, 1512, 2839]; 

WHEREAS, under the Lift Stay Protocol, the Movant is required to (a) send notice (the 

“Lift Stay Notice”) to counsel to the Oversight Board and the Puerto Rico Fiscal Agency and 

 

2 The Financial Oversight and Management Board for Puerto Rico (the “Oversight Board”), as the Debtors’ 

representative pursuant to section 315(b) of the Puerto Rico Oversight, Management, and Economic Stability Act

(“PROMESA”), has authorized the Puerto Rico Fiscal Agency and Financial Advisory Authority (“AAFAF”) to 

enter into this Stipulation on behalf of PREPA. AAFAF is an entity of the Commonwealth of Puerto Rico 

authorized to act on behalf of PREPA pursuant to the authority granted to it under the Enabling Act of the Fiscal 

Agency and Financial Advisory Authority, Act 2 2017.

3

In a title III case, Bankruptcy Code section 922 extends the self-executing provisions of Bankruptcy Code 

section 362 to, among other things, actions against officers and inhabitants of the debtor to enforce claims 

against the debtor. See Order Pursuant to PROMESA Section 301(a) and Bankruptcy Code Sections 105(a), 

362(a), 365, and 922 Confirming (I) Application of the Automatic Stay to Government Officers, Agents, and 

Representatives, (II) Stay of Prepetition Lawsuits, and (III) Application of Contract Protections [ECF No. 543] 

(“For the avoidance of doubt, the protections of Bankruptcy Code section 922(a)(1) with respect to officers and 

inhabitants of the Debtors, as set forth in paragraph 4(a) [of the Order], apply in all respects to the Debtors’ 

officers in both their official and personal capacities with respect to actions whereby parties pursuing such 

actions seek to enforce claims against any of the Debtors.”).

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Financial Advisory Authority (“AAFAF”) to advise them of the Movant’s intent to seek relief 

from the Title III Stay at least fifteen (15) business days prior to filing a motion seeking such 

relief (the “Lift Stay Notice Period”) and (b) meet and confer with PREPA during the Lift Stay 

Notice Period;

WHEREAS, on March 14, 2018, the Movant sent a Lift Stay Notice to the Oversight

Board and AAFAF requesting the lifting of the Title III Stay to allow the Movant to proceed 

with the cases captioned Puerto Rico Electric Power Authority v. Sucesión Sastre Wirshing, et. 

al., civil case no. KEF2004-1226, and Miguel Pedro Sastre Wirshing, et. al. v. Puerto Rico 

Electric Power Authority, et. al., civil case no. KAC2011-0384 (collectively, the “Prepetition 

Actions”), before the Puerto Rico Court of First Instance, San Juan Part (the “Commonwealth 

Court”);

WHEREAS, on April 26, 2018, the Movant filed its Motion for Relief from Stay (the 

“Stay Motion”) [Case No. 17-bk-03283, ECF No. 2962] to lift the Title III Stay to allow the 

Prepetition Actions to proceed to a determination of the amount of just compensation;

WHEREAS, On April 27, 2018, the Court entered the Order Scheduling Briefing of 

Motion for Relief of Stay [Case No. 17-bk-03283, ECF No. 2971], which set the deadlines for 

any opposition to the Stay Motion to be due on May 10, 2018 and any reply to be due on May 

17, 2018;

WHEREAS, PREPA and the Movant conferred and have resolved the Movant’s request 

for relief in the Stay Motion.

NOW THEREFORE, IT IS HEREBY STIPULATED AND AGREED, by and 

between PREPA and the Movant, through their counsel, each of whom represent and warrant 

they possess the requisite authority to bind the respective parties hereto, as follows:

1. The Stay Motion is resolved in its entirety. 

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2. The Title III Stay is hereby modified solely to the limited extent necessary to 

enable the Prepetition Actions to proceed to judgment before the Commonwealth Court; 

provided, however, the Title III Stay shall continue to apply in all other respects to the 

Prepetition Actions, including, but not limited to, the execution and enforcement of any 

judgment, injunction, any claims for money damages, and provisional remedies against PREPA,

if any, or any other Title III Debtor. 

3. It is expressly understood by the Movant that nothing contained in this Stipulation 

shall: (a) require PREPA or any other Title III Debtor to satisfy or pay any monies allegedly 

owed to the Movant regarding the claims asserted in the Prepetition Actions; or (b) constitute a 

determination of any type of liability or monetary claim of any kind as to PREPA or any other 

Title III Debtor.

4. It is understood by the Movant that nothing contained in this Stipulation shall 

operate as a waiver or modification of the Title III Stay to permit the prosecution against 

PREPA, or any of the Title III debtors, of any claim or claims by anyone other than the Movant

as provided for herein and PREPA reserves all rights, defenses, and protections with respect to 

any matters pending or that may arise in or relate to the Title III Case, including the treatment of 

any claim arising from the Prepetition Actions under a plan of adjustment or otherwise in the 

Title III Case.

5. PREPA and the Movant represent and warrant that they are properly and fully 

empowered to enter into and execute this Stipulation, that they know of no contractual 

commitment or legal limitation of, impediment to, or prohibition against their entry into this 

Stipulation, and that the Stipulation is legal, valid, and binding upon them.

6. Neither this Stipulation, nor any statement made, action, or position taken, or 

document prepared or executed in connection with the negotiation, execution, or implementation 

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of this Stipulation 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 PREPA’s rights to dispute, contest, setoff, or recoup any claim, including any claims asserted 

by the Movant in the Prepetition 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.

7. Nothing in this Stipulation shall be deemed or construed as: (a) creating or 

conferring any right upon any persons or entities (other than the Movant as expressly provided in 

this Stipulation), or (b) evidence of any willingness or obligation on PREPA’s part to consent to 

any other or future modifications of or relief from the Title III Stay with respect to any persons 

or entities. 

8. This Stipulation contains the entire agreement by and between the parties with 

respect to the subject matter hereof, and all prior understandings or agreements, if any, are 

merged into this Stipulation.

9. This Stipulation shall be construed and interpreted in accordance with the laws of 

Puerto Rico. For purposes of construing this Stipulation, neither of the parties shall be deemed to 

have been the drafter of the Stipulation.

10. Electronic copies of signatures on this Stipulation are acceptable, and an 

electronic copy of a signature on this Stipulation is deemed an original. This Stipulation may be 

executed in counterparts, each of which is deemed an original, but when taken together constitute 

one and the same document.

11. This Stipulation may not be modified other than by a signed writing executed by 

the parties hereto. 

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12. The District Court shall retain jurisdiction to hear any matters or disputes arising 

from or relating to this Stipulation.

13. This Stipulation shall be immediately effective and enforceable upon execution.

Remainder of Page Intentionally Left Blank

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IN WITNESS WHEREOF and in agreement herewith, by and through their counsel, the 

parties have executed and delivered this Stipulation as of the date first set forth above.

RESPECTFULLY SUBMITTED. 

In San Juan, Puerto Rico, this 10th day of May, 2018.

/s/ Kevin D. Finger_________

Nancy A. Mitchell (Admitted Pro Hac Vice)

Nathan A. Haynes (Admitted Pro Hac Vice)

GREENBERG TRAURIG LLP

MetLife Building

200 Park Avenue

New York, NY 10166

Tel: (212) 801-9200

Fax: (212) 801-6400

Email: mitchelln@gtlaw.com

 haynesn@gtlaw.com

David D. Cleary (admitted pro hac vice)

Kevin D. Finger (admitted pro hac vice)

Greenberg Traurig, LLP

77 West Wacker Drive

Suite 3100

Chicago, IL 60601

Tel: (312) 456-8400

Fax: (312) 456-8435

Email: clearyd@gtlaw.com

 fingerk@gtlaw.com

Joseph P. Davis III (admitted pro hac vice)

Greenberg Traurig, LLP

One International Place, Suite 2000

Boston, MA 02110

Tel: (617) 310-6000

Fax: (617) 310-6001

Email: davisjo@gtlaw.com

Attorneys for Puerto Rico Fiscal Agency and 

Financial Advisory Authority

/s/ María E. Vicens Rivera

MARÍA E. VICENS RIVERA

USDC-PR 226711

9140 Marina St. Suite 801

Ponce, PR 00717

Tel. / Fax. (787) 259-1999

Email: mevicens@yahoo.com

Attorneys for Sucesión Sastre Wirshing

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/s/ Katiuska Bolaños-Lugo_________

Arturo Diaz-Angueira (USDC No. 117907)

Katiuska Bolaños-Lugo (USDC No. 231812)

CANCIO, NADAL, RIVERA & DIAZ, PSC

403 Muñoz Rivera Ave.

San Juan, PR 00918-3345

Tel: (787) 767-9625

Fax: (787) 622-2230

Email: adiaz@cnrd.com

kbolanos@cnrd.com

Attorneys for Puerto Rico Electric Power 

Authority

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