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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URGENT CONSENTED MOTION OF OFFICIAL UNSECURED CREDITORS 

COMMITTEE IN ITS STATUTORY CAPACITY AND AS COMMONWEALTH 

AGENT REGARDING CONSENSUAL EXTENSION OF DEADLINE TO FILE 

MOTION TO ENFORCE STIPULATION AND ORDER APPROVING PROCEDURE 

TO RESOLVE COMMONWEALTH-COFINA DISPUTE IN TITLE III CASE OF 

COMMONWEALTH OF PUERTO RICO 

To the Honorable United States District Court Judge Laura Taylor Swain: 

The Official Committee of Unsecured Creditors of all title III Debtors (other than 

COFINA) (the “Committee”), in its statutory capacity and as the Commonwealth Agent 

(together with the Committee, the “Commonwealth Agent”) with respect to the CommonwealthCOFINA Dispute, as defined in the Stipulation and Order Approving Procedure to Resolve 

Commonwealth-COFINA Dispute [Docket No. 996 in Case No. 17-3283 (LTS)] (the 

 

1

 The Debtors in these title III cases, along with each Debtor’s respective title III case number listed as a bankruptcy 

case number due to software limitations 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) 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), (iii) Puerto Rico Highways and Transportation Authority (“HTA”) (Bankruptcy Case No. 17-BK3567 (LTS)) (Last Four Digits of Federal Tax ID: 3808), (iv) Puerto Rico Sales Tax Financing Corporation 

(“COFINA”) (Bankruptcy Case No. 17-BK-3284 (LTS)) (Last Four Digits of Federal Tax ID: 8474), and (v) 

Puerto Rico Electric Power Authority (“PREPA”) (Bankruptcy Case No. 17-BK-4780 (LTS)) (Last Four Digits of 

Federal Tax ID: 3747). 

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“Stipulation”),2 respectfully submits this urgent motion (the “Urgent Motion”) requesting an 

extension of the Commonwealth Agent’s deadline to file its motion to enforce the Stipulation 

(the “Motion to Enforce”) challenging the Oversight Board’s authority under the Stipulation to 

seek approval of the Oversight Board’s settlement of the Commonwealth-COFINA Dispute. The 

current deadline to file the Motion to Enforce is November 2, 2018, at 4:00 p.m. (AST). The 

Oversight Board, the COFINA Agent, and the COFINA Senior Bondholders’ Coalition 

have consented to the relief requested in this Urgent Motion. In support of this Urgent 

Motion, the Commonwealth Agent respectfully states as follows: 

RELIEF REQUESTED 

1. On October 18, 2018, the Court entered an order (the “Scheduling Order”) 

establishing a hearing date and briefing schedule for the Commonwealth Agent’s Motion to 

Enforce.

3 The Scheduling Order provides, among other things, that the Commonwealth Agent 

must file its Motion Enforce by the earlier of (i) 4:00 p.m. (AST) on November 2, 2018 or (ii) 

three business days after the Oversight Board provides to the Commonwealth Agent the New 

Certified Commonwealth Fiscal Plan (as defined in the Scheduling Order), which includes the 

projections for such fiscal plan.4

 

2. The Commonwealth Agent is in discussions with, among others, the Oversight 

Board and the COFINA Agent to resolve the Commonwealth Agent’s concerns regarding the 

Oversight Board’s motion seeking approval of its settlement of the Commonwealth-COFINA 

 

2

 Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them in the 

Stipulation. 

3

 See Docket No. 4060 in Case No. 17-3283 (LTS) 

4

 As of the date of this Urgent Motion, the Commonwealth Agent has not received the projections for the 

Commonwealth fiscal plan certified by the Oversight Board on October 23, 2018, and, accordingly, the deadline 

for the Commonwealth Agent to file its Motion to Enforce is currently 4:00 p.m. (AST) on Friday, November 2, 

2018. 

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Dispute. These discussions could obviate the need to file a Motion to Enforce. The 

Commonwealth Agent requests that the Court extend the Commonwealth Agent’s deadline to 

file the Motion to Enforce to 9:00 a.m. (AST) on Monday, November 5, 2018, to allow these 

discussions to proceed and hopefully lead to a consensual resolution. As noted, the Oversight 

Board, the COFINA Agent, and the COFINA Senior Bondholders’ Coalition have consented to 

this extension. 

3. All other dates in the Scheduling Order, including the Oversight Board’s deadline 

to object to the Motion to Enforce and the hearing date on the Motion to Enforce, shall remain 

unchanged. 

[Remainder of page left intentionally blank.] 

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 WHEREFORE, the Commonwealth Agent respectfully requests that the Court enter the 

Proposed Order attached hereto as Exhibit A, granting the relief requested therein and granting 

such other and further relief as the Court deems just and proper.

Dated: November 2, 2018 

 

/s/ Luc A. Despins .

PAUL HASTINGS LLP 

Luc A. Despins, Esq. (Pro Hac Vice) 

James R. Bliss, Esq. (Pro Hac Vice)

G. Alexander Bongartz, Esq. (Pro Hac Vice) 

200 Park Avenue 

New York, New York 10166 

Telephone: (212) 318-6000 

lucdespins@paulhastings.com 

jamesbliss@paulhastings.com 

alexbongartz@paulhastings.com 

Counsel to the Commonwealth Agent and 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 

Diana M. Batlle-Barasorda, Esq., USDC - PR 213103 

Alberto J. E. Añeses Negrón, Esq., USDC - PR 302710 

Ericka C. Montull-Novoa, Esq., USDC - PR 230601 

El Caribe Office Building 

53 Palmeras Street, Ste. 1601 

San Juan, Puerto Rico 00901-2419 

Telephone: (787) 523-3434 

jcasillas@cstlawpr.com 

dbatlle@cstlawpr.com 

aaneses@cstlawpr.com 

emontull@cstlawpr.com 

Local Counsel to the Commonwealth Agent and to 

the Official Committee of Unsecured Creditors

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