UNITED STATES DISTRICT COURT

FOR THE 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)

INDEPENDENT INVESTIGATOR’S URGENT UNOPPOSED MOTION

FOR LEAVE TO FILE CERTIFICATE OF SERVICE UNDER SEAL

Kobre & Kim LLP, the independent investigator (the “Independent Investigator”) 

retained by the Financial Oversight and Management Board for Puerto Rico (the “Oversight 

Board”), acting by and through the Special Investigation Committee of the Oversight Board (the

“Special Investigation Committee”),2 hereby submits this Independent Investigator’s Urgent 

Unopposed Motion For Leave to File Certificate of Service Under Seal (the “Urgent Motion”),

seeking entry of an order substantially in the form of Exhibit A (the “Proposed Order”),

permitting Prime Clerk LLC to (1) publicly file, with a confidential exhibit redacted, the 

certificate of service (the “Certificate of Service”) for the Reply in Support of Motion of 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 (Bankruptcy Case No. 17-BK-3566 (LTS)) (Last Four Digits of Federal Tax ID: 9686), (iii) Puerto 

Rico Highways and Transportation Authority (Bankruptcy Case No. 17-BK- 3567 (LTS)) (Last Four Digits of 

Federal Tax ID: 3808), and (iv) Puerto Rico Sales Tax Financing Corporation (Bankruptcy Case No. 17-BK-3284 

(LTS)) (Last Four Digits of Federal Tax ID: 8474); and (v) Puerto Rico Electric Power Authority (Bankruptcy Case 

No. 17 BK 4780-LTS) (Last Four Digits of Federal Tax ID: 3747).

2 The Special Investigation Committee of the Oversight Board comprises of Members Ana J. Matosantos, David A. 

Skeel, and Judge Arthur J. Gonzalez (Ret.), and is charged with pursuing investigations pursuant to the authority 

granted to the Oversight Board by section 104(o) of the Puerto Rico Oversight, Management, and Economic 

Stability Act (“PROMESA”) and such other authority vested in the Oversight Board under PROMESA.

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Independent Investigator for an Order: (I) Establishing Procedures for Resolving Any 

Confidentiality Dispute in Connection with Publication of the Independent Investigator’s Final 

Report; (II) Approving the Disposition of Documents and Information; (III) Relieving the 

Independent Investigator from Certain Discovery Obligations; (IV) Exculpating the Independent 

Investigator in Connection with the Investigation and Publication of the Final Report; and 

(V) Granting Related Relief [ECF No. 3666] (the “Exit Procedures Reply”)3, and (2) file an 

unredacted version of the Certificate of Service under seal.

Jurisdiction and Venue

1. This Court has jurisdiction over this matter pursuant to sections 106(a) and 

306(a)(2) of PROMESA.

2. Venue is proper pursuant to sections 104(k), 106(a), and 307(a) of PROMESA.

3. The statutory basis for the relief requested herein is found in sections 105(a) of 

title 11 of the United States Code and Rule 9018 of the Federal Rules of Bankruptcy Procedure

(the “Bankruptcy Rules”), made applicable to the title III cases by sections 301(a) and 310 of 

PROMESA, and Local Rule 9018-1 of the Local Bankruptcy Rules for the United States 

Bankruptcy Court for the District of Puerto Rico (the “Local Rules”).

Relief Requested

4. On July 20, 2018, the Independent Investigator filed the Exit Procedures Reply. 

The Exit Procedures Reply was served by Prime Clerk LLC upon, among others: (i) all parties 

that produced documents or shared information with the Independent Investigator in connection 

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

Motion of the Independent Investigator for an Order: (I) Establishing Procedures for Resolving Any Confidentiality 

Dispute in Connection with Publication of the Independent Investigator’s Final Report; (II) Approving the 

Disposition of Documents and Information; (III) Relieving the Independent Investigator from Certain Discovery 

Obligations; (IV) Exculpating the Independent Investigator in Connection with the Investigation and Publication of 

the Final Report; and (V) Granting Related Relief [ECF No. 3427] (the “Motion”). 

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with the Investigation (the “Disclosing Parties”), including witnesses that have been interviewed 

by and parties that entered into the non-disclosure agreements with the Independent Investigator; 

and (ii) all parties that received a Preservation and Document Request Letter or Investigatory 

Subpoena (together with the Disclosing Parties, the “Confidential Parties”).

5. The full, unredacted version of the Certificate of Service for the Exit Procedures 

Reply includes an “Exhibit C” that identifies the Confidential Parties. Public disclosure of the 

identities of the Confidential Parties at this time could impact the effectiveness and integrity of 

the Investigation. Among other things, it would permit each witness in the Investigation to know 

the identity of each other witness with whom the Independent Investigator has been speaking. 

Further, certain Disclosing Parties may contend that the information contained on “Exhibit C” is 

subject to nondisclosure under confidentiality agreements with the Independent Investigator. 

6. The Independent Investigator accordingly requests that the Court grant the Urgent 

Motion and allow Prime Clerk LLC to (i) publicly file the Certificate of Service with “Exhibit C” 

redacted and (ii) file under seal the full, unredacted version of the Certificate of Service, 

including “Exhibit C.” See Bankruptcy Rule 9018 (the court may “make any order which justice 

requires” in order to, among other things, “protect the estate or any entity in respect of a trade 

secret or other confidential research, development, or commercial information” or to “protect 

governmental matters that are made confidential by statute or regulation”). 

7. The Independent Investigator additionally requests that the following parties be 

granted access to “Exhibit C” to the Certificate of Service: (a) counsel for the Oversight Board; 

(b) the Official Committee of Unsecured Creditors; and (c) Official Committee of Retired 

Employees of the Commonwealth of Puerto Rico. See Local Rule 9018-1(b) (“The proposed 

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order shall identify the parties, if any, who may have access to material that is under seal and 

under what circumstances.”).

8. The Court previously granted identical relief in connection with the filing of the 

certificate of service for the Motion. See Order Granting Independent Investigator’s Urgent 

Unopposed Motion for Leave to File Certificate of Service Under Seal [ECF No. 3448].

Certification in Compliance with 

the Fourth Amended Case Management Procedures and Local Rule 9013-1

9. Pursuant to Local Rule 9013-1 and paragraph I.H of the Fourth Amended Case 

Management Procedures [ECF No. 2839-1], the Independent Investigator hereby certifies that it

has (a) carefully examined the matter and concluded that there is a true need for an urgent 

hearing; (b) not created the urgency through any lack of due diligence; (c) made a bona fide 

effort to resolve the matter without a hearing; (d) made reasonable, good-faith communications 

in an effort to resolve or narrow the issues that are being brought to the Court; and (e) the 

Independent Investigator has conferred with counsel for the Oversight Board, counsel for the 

Creditors’ Committee, and counsel for the Official Committee of Retired Employees of the 

Commonwealth of Puerto Rico, and none of these parties opposes the relief requested herein. 

10. No previous request for the relief sought herein has been made by the Independent 

Investigator to this or any other court.

WHEREFORE the Independent Investigator respectfully requests entry of the Proposed 

Order.

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Dated: July 24, 2018

San Juan, Puerto Rico /s/ D. Farrington Yates

KOBRE & KIM LLP

D. Farrington Yates (pro hac vice)

800 Third Avenue

New York, New York 10022 

Tel: (212) 488-1211

Fax: (212) 488-1220

Farrington.Yates@kobrekim.com

John D. Couriel (pro hac vice)

201 S. Biscayne Blvd., Suite 1900

Miami, Florida 33131

Tel: (305) 967-6100

John.Couriel@kobrekim.com

The Independent Investigator

-and-

/s/ Luis F. del Valle-Emmanuelli

A&S LEGAL STUDIO, PSC

Luis F. del Valle-Emmanuelli

USDC-PR No. 209514

P.O. Box 79897

Carolina, Puerto Rico 00984-9897

Tel. 787.977.1932

Fax. 787.722.1932

dvelawoffices@gmail.com

Local Counsel for the Independent Investigator

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CERTIFICATE OF SERVICE

I hereby certify that, on this same date, I electronically filed the foregoing with the Clerk 

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

CM/ECF participants in this case.

/s/ Luis F. del Valle-Emmanuelli

Luis F. del Valle-Emmanuelli

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Exhibit A

Proposed Order

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UNITED STATES DISTRICT COURT 

FOR THE 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 INDEPENDENT INVESTIGATOR’S URGENT UNOPPOSED 

MOTION FOR LEAVE TO FILE CERTIFICATE OF SERVICE UNDER SEAL

Upon consideration of the Independent Investigator’s Urgent Unopposed Motion For 

Leave to File Certificate of Service Under Seal (the “Urgent Motion”),2 the Court hereby 

FINDS AND DETERMINES that (i) the Court has jurisdiction to consider the Urgent 

Motion and the relief requested therein pursuant to sections 106(a) and 306(a)(2) of 

PROMESA; (ii) venue is proper before this Court pursuant to sections 104(k), 106(a), and 

307(a) of PROMESA; (iii) due and proper notice of this Urgent Motion has been provided 

under the particular circumstances and no other or further notice need be provided; (iv) based 

on the statements and arguments made in the Urgent Motion, the Court finds that it is 

 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 (Bankruptcy Case No. 17-BK-3566 (LTS)) (Last Four Digits of Federal Tax ID: 9686), (iii) Puerto 

Rico Highways and Transportation Authority (Bankruptcy Case No. 17-BK- 3567 (LTS)) (Last Four Digits of 

Federal Tax ID: 3808), and (iv) Puerto Rico Sales Tax Financing Corporation (Bankruptcy Case No. 17-BK-3284 

(LTS)) (Last Four Digits of Federal Tax ID: 8474); and (v) Puerto Rico Electric Power Authority (Bankruptcy Case 

No. 17 BK 4780-LTS) (Last Four Digits of Federal Tax ID: 3747).

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

Urgent Motion.

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appropriate for the filing under seal of an unredacted version of the Certificate of Service for 

the Exit Procedures Reply. Accordingly, it is hereby ORDERED THAT:

1. Prime Clerk LLC is authorized to publicly file the Certificate of Service with 

“Exhibit C” redacted.

2. Prime Clerk LLC is authorized to file under seal a full, unredacted version of the 

Certificate of Service.

3. The Clerk of the Court will provide access to “Exhibit C” of the Certificate of 

Service to the following parties: (a) counsel for the Oversight Board; (b) the Official 

Committee of Unsecured Creditors; and (c) the Official Committee of Retired Employees of 

the Commonwealth of Puerto Rico.

Dated: July __, 2018

HON. LAURA TAYLOR SWAIN

UNITED STATES DISTRICT JUDGE

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