Presentment Date: July 19, 2018 

Objection Deadline: July 18, 2018 at 5:00 p.m. (AST)

UNITED STATES DISTRICT COURT

DISTRICT OF PUERTO RICO

---------------------------------------------------------------x

In re:

THE FINANCIAL OVERSIGHT AND 

MANAGEMENT BOARD FOR PUERTO RICO,

 as representative of 

THE COMMONWEALTH OF PUERTO RICO, et al.,

 Debtors.1

---------------------------------------------------------------x

PROMESA

Title III

No. 17 BK 3283-LTS

(Jointly Administered)

RE: ECF Nos. 3417 & 3481

NOTICE OF PRESENTMENT OF REVISED 

PROPOSED ORDER EXTENDING THE TIME TO ASSUME 

OR REJECT UNEXPIRED LEASES OF NONRESIDENTIAL REAL PROPERTY

PLEASE TAKE NOTICE that on July 3, 2018, the Commonwealth of Puerto Rico (the 

“Commonwealth”), the Puerto Rico Sales Tax Financing Corporation (“COFINA”), the Puerto 

Rico Highways and Transportation Authority (“HTA”), the Employees Retirement System of the 

Government of the Commonwealth of Puerto Rico (“ERS”), and the Puerto Rico Electric Power 

Authority (“PREPA,” and together with the Commonwealth, COFINA, HTA, and ERS the 

“Debtors”), as Title III debtors, by and through the Financial Oversight and Management Board 

 

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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2

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”), 

filed the Motion for Entry of a Fourth Order Extending Time to Assume or Reject Unexpired 

Leases of Nonresidential Real Property Under Which the Puerto Rico Public Building Authority 

is the Lessor Pursuant to Bankruptcy Code Section 365(d)(4) (the “Motion”). 

PLEASE TAKE FURTHER NOTICE that on July 11, 2018, the Court entered an order

granting the Motion [ECF No. 3481] (the “Order”), in the form of the proposed order submitted 

as Exhibit A to the Motion.

PLEASE TAKE FURTHER NOTICE that attached hereto as Exhibit A is a revised 

proposed order (the “Revised Proposed Order”), which contains revisions made in an effort to 

resolve concerns expressed to the Debtors before the deadline to object to the Motion by certain 

parties confirming that the Order does not impact the relief previously granted by the Court’s 

prior Order Resolving the Motion of the PBA Funds for the Payment of Rent [ECF No. 2716].

PLEASE TAKE FURTHER NOTICE that a redline comparing the Revised Proposed 

Order against the Order is attached hereto as Exhibit B, demonstrating the changes incorporated 

into the Revised Proposed Order.

PLEASE TAKE FURTHER NOTICE that, pursuant to section III.H of the Court’s 

Order (A) Imposing and Rendering Applicable Local Bankruptcy Rules to These Title III Cases, 

(B) Authorizing Establishment of Certain Notice, Case Management, and Administrative 

Procedures, and (C) Granting Related Relief [ECF No. 2839], “the presentment of a proposed 

order for administrative relief must be filed and served at least seven (7) calendar days before the 

presentment date, and Objections thereto must be filed and served at least one (1) calendar day 

before presentment date,” and accordingly, unless a written objection to the Revised Proposed 

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3

Order is filed with the Court no later than 5:00 p.m. (AST) on July 18, 2018, the relief requested 

shall be deemed unopposed, and the Court may enter an order granting the relief sought in the 

Motion without a hearing.

PLEASE TAKE FURTHER NOTICE that copies of the foregoing documents, and all 

documents filed in these title III cases are available (a) free of charge by visiting 

https://cases.primeclerk.com/puertorico or by calling +1 (844) 822-9231, and (b) on the Court’s 

website at http://www.prd.uscourts.gov, subject to the procedures and fees set forth therein.

[Remainder of Page Intentionally Left Blank]

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4

Dated: July 12, 2018

San Juan, Puerto Rico

Respectfully submitted,

/s/ Martin J. Bienenstock

Martin J. Bienenstock

Paul V. Possinger

Ehud Barak

Maja Zerjal

(Admitted Pro Hac Vice)

PROSKAUER ROSE LLP

Eleven Times Square

New York, NY 10036

Tel: (212) 969-3000

Fax: (212) 969-2900

Attorneys for the Financial Oversight and 

Management Board as representative for the 

Debtors

/s/ Hermann D. Bauer

Hermann D. Bauer

USDC No. 215205

O’NEILL & BORGES LLC

250 Muñoz Rivera Ave., Suite 800

San Juan, PR 00918-1813

Tel: (787) 764-8181

Fax: (787) 753-8944

Co-Attorneys for the Financial Oversight and 

Management Board as representative for the 

Debtors

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Exhibit A

Revised Proposed Order

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UNITED STATES DISTRICT COURT 

DISTRICT OF PUERTO RICO

---------------------------------------------------------------x

In re:

THE FINANCIAL OVERSIGHT AND 

MANAGEMENT BOARD FOR PUERTO RICO,

 as representative of 

THE COMMONWEALTH OF PUERTO RICO, et al.,

 Debtors. 1

---------------------------------------------------------------x

PROMESA

Title III

No. 17 BK 3283-LTS

(Jointly Administered)

ORDER GRANTING MOTION FOR ENTRY OF 

A FOURTH ORDER EXTENDING TIME TO ASSUME OR REJECT 

UNEXPIRED LEASES OF NONRESIDENTIAL REAL PROPERTY 

UNDER WHICH THE PUERTO RICO PUBLIC BUILDING AUTHORITY 

IS THE LESSOR PURSUANT TO BANKRUPTCY CODE SECTION 365(d)(4) 

Upon the Motion for Entry of a Fourth Order Extending Time to Assume or Reject 

Unexpired Leases of Nonresidential Real Property Under Which the Puerto Rico Public Building 

Authority is the Lessor Pursuant to Bankruptcy Code Section 365(d)(4) (the “Motion”);2and the 

Court having found it has subject matter jurisdiction over this matter pursuant to PROMESA 

section 306(a); and it appearing that venue is proper pursuant to PROMESA section 307(a); and 

 

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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2

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, it is HEREBY ORDERED THAT:

1. The Motion is granted as set forth herein.

2. The deadline for the Debtors to assume or reject any of the PBA Leases is 

extended through and including November 23, 2018, without prejudice to (a) the Debtors’ right 

to seek further extensions as contemplated by Bankruptcy Code section 365(d)(4)(B)(ii), (b) the 

right of any party in interest to object to such requested extensions, or (c) the Debtors’ right to 

object or respond to such objections on the basis that such party lacks standing to object to such 

requested extensions.

3. Nothing in the Motion or this Order shall be deemed or construed as (a) an 

assumption or rejection of any agreement, contract, or lease pursuant to Bankruptcy Code section 

365, or (b) an admission with respect to whether any of the Debtors’ contracts or leases is an 

unexpired lease of nonresidential real property within the meaning of Bankruptcy Code section 

365(d). The relief granted by this Order shall not affect the Debtors’ rights to assume, assume 

and assign, or reject any PBA Leases. 

4. Except as expressly stated in this Order, nothing in the Motion or this Order shall 

(a) impair or modify the rights and claims of PBA under or related to the PBA Leases under 

PROMESA or applicable law, or (b) impair or modify the rights or claims of any holders of 

bonds issued by PBA, either directly or as third party beneficiaries, under or related to the PBA 

Leases under PROMESA or applicable law.

5. Notwithstanding anything herein or in the Motion to the contrary, nothing 

contained in this Order shall be deemed to amend, modify, or supersede in any respect the relief 

granted in the Court’s Order Resolving the Motion of the PBA Funds for the Payment of Rent 

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3

[ECF No. 2716] (the “Rent Order”), and the Rent Order shall remain in full force and effect 

following the entry of this Order.

6. This Court retains exclusive jurisdiction with respect to all matters arising from or 

related to the implementation, interpretation, and enforcement of this Order.

7. This Order relates to and resolves Docket Entry Nos. 3417 & [___] in Case No. 

17-03283. 

SO ORDERED.

Dated: , 2018

San Juan, Puerto Rico LAURA TAYLOR SWAIN

United States District Judge

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Exhibit B

Redline

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UNITED STATES DISTRICT COURT

DISTRICT OF PUERTO RICO

---------------------------------------------------------------x

In re:

THE FINANCIAL OVERSIGHT AND

MANAGEMENT BOARD FOR PUERTO RICO,

 as representative of

THE COMMONWEALTH OF PUERTO RICO, et al.,

 Debtors. 1

---------------------------------------------------------------x

PROMESA

Title III

No. 17 BK 3283-LTS

(Jointly Administered)

ORDER GRANTING MOTION FOR ENTRY OF

A FOURTH ORDER EXTENDING TIME TO ASSUME OR REJECT

UNEXPIRED LEASES OF NONRESIDENTIAL REAL PROPERTY

UNDER WHICH THE PUERTO RICO PUBLIC BUILDING AUTHORITY

IS THE LESSOR PURSUANT TO BANKRUPTCY CODE SECTION 365(d)(4) 

Upon the Motion for Entry of a Fourth Order Extending Time to Assume or Reject

Unexpired Leases of Nonresidential Real Property Under Which the Puerto Rico Public Building

Authority is the Lessor Pursuant to Bankruptcy Code Section 365(d)(4) (the “Motion”);2 and the

Court having found it has subject matter jurisdiction over this matter pursuant to PROMESA

section 306(a); and it appearing that venue is proper pursuant to PROMESA section 307(a); and

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 Commonwea

lth 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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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, it is HEREBY ORDERED THAT:

1. The Motion is granted as set forth herein.

2. The deadline for the Debtors to assume or reject any of the PBA Leases is

extended through and including November 23, 2018, without prejudice to (a) the Debtors’ right

to seek further extensions as contemplated by Bankruptcy Code section 365(d)(4)(B)(ii), (b) the

right of any party in interest to object to such requested extensions, or (c) the Debtors’ right to

object or respond to such objections on the basis that such party lacks standing to object to such

requested extensions.

3. Nothing in the Motion or this Order shall be deemed or construed as (a) an

assumption or rejection of any agreement, contract, or lease pursuant to Bankruptcy Code section

365, or (b) an admission with respect to whether any of the Debtors’ contracts or leases is an

unexpired lease of nonresidential real property within the meaning of Bankruptcy Code section

365(d). The relief granted by this Order shall not affect the Debtors’ rights to assume, assume

and assign, or reject any PBA Leases.

4. Except as expressly stated in this Order, nothing in the Motion or this Order shall

(a) impair or modify the rights and claims of PBA under or related to the PBA Leases under

PROMESA or applicable law, or (b) impair or modify the rights or claims of any holders of

bonds issued by PBA, either directly or as third party beneficiaries, under or related to the PBA

Leases under PROMESA or applicable law.

5. Notwithstanding anything herein or in the Motion to the contrary, nothing

contained in this Order shall be deemed to amend, modify, or supersede in any respect the relief

granted in the Court’s Order Resolving the Motion of the PBA Funds for the Payment of Rent

 2

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[ECF No. 2716] (the “Rent Order”), and the Rent Order shall remain in full force and effect

following the entry of this Order.

6. 5. This Court retains exclusive jurisdiction with respect to all matters arising from

or related to the implementation, interpretation, and enforcement of this Order.

 3

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7. 6. This Order relates to and resolves Docket Entry NoNos. 3417 & [___] in Case

No. 17-03283.

SO ORDERED.

Dated: , 2018

San Juan, Puerto Rico LAURA TAYLOR SWAIN

United States District Judge

 4

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12:54:16 PM

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