UNITED STATES DISTRICT COURT FOR 

THE DISTRICT OF PUERTO RICO

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GOVERNMENT DEVELOPMENT BANK FOR 

PUERTO RICO

Applicant.

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IN RE:

THE FINANCIAL OVERSIGHT AND

MANAGEMENT BOARD FOR PUERTO RICO, 

as representative of

THE COMMONWEALTH OF PUERTO RICO, 

et al.,

Debtors.

1

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THE OFFICIAL COMMITTEE OF UNSECURED 

CREDITORS OF THE DEBTORS (OTHER THAN 

COFINA),

Plaintiff,

v.

THE COMMONWEALTH OF PUERTO RICO, THE 

PUERTO RICO FISCAL AGENCY AND FINANCIAL 

ADVISORY AUTHORITY, THE GOVERNMENT 

DEVELOPMENT BANK FOR PUERTO RICO, AND 

THE FINANCIAL OVERSIGHT AND 

MANAGEMENT BOARD FOR PUERTO RICO,

Defendants.

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PROMESA

Title VI

Case No. 18-1561 (LTS)

PROMESA

Title III

No. 17 BK 3283-LTS

(Jointly Administered)

Adv. Proc. No. 18-00101 (LTS)

INFORMATIVE MOTION OF FINANCIAL 

OVERSIGHT AND MANAGEMENT BOARD REGARDING 

REQUEST TO BE HEARD AT THE OCTOBER 3, 2018 HEARING

 1 The Debtors in the underlying Title III case, 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); and (ii) Puerto Rico Sales Tax 

Financing Corporation (“COFINA”) (Bankruptcy Case No. 17 BK 3284-LTS) (Last Four Digits of 

Federal Tax ID: 8474).

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To the Honorable United States District Judge Laura Taylor Swain:

Pursuant to the Court’s Order Regarding Procedures for Attendance, Participation 

and Observation of the October 3, 2018 Hearing (Dkt. No. 3975 in Case No. 17-3283), the

Financial Oversight and Management Board for Puerto Rico (the “FOMB”), in its capacity 

as the Administrative Supervisor in the Title VI case regarding the Government Development 

Bank for Puerto Rico (“GDB”) pursuant to section 601(a)(1) of the Puerto Rico Oversight, 

Management, and Economic Stability Act (“PROMESA”),

2 and in its capacity as 

representative of 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, and HTA, the “Debtors”),

pursuant to section 315(b) of PROMESA, in the Title III Cases, respectfully states as follows:

1. The FOMB intends to present oral argument at the hearing to be held by the

Court on October 3, 2018 at 2:00 p.m. (AST)

2. Counsel to present argument: Martin J. Bienenstock3

 2 PROMESA has been codified in 48 U.S.C. §§ 2101-2241.

3 Mr. Bienenstock will address, as necessary, the following matters: 

Objection of Financial Oversight and Management Board for Puerto Rico as the Administrative 

Supervisor of the Government Development Board for Puerto Rico to the Official Committee of 

Unsecured Creditors’ Notice of Intention to Object to Qualifying Modification for Government 

Development Bank [Case No. 18-1561, Docket No. 111]; 

Financial Oversight and Management Board for Puerto Rico’s Reply to Omnibus Response of 

Official Committee of Unsecured Creditors to GDB/AAFAF’s and Oversight Board’s Standing 

Objections [Case No. 18-1561, Docket No. 171]; and

Objection of Financial Oversight and Management Board to Official Committee of Unsecured 

Creditors’ Motion for Order Granting Derivative Standing to Act on Behalf of Title III Debtors for 

Certain Limited Purposes and Other Related Relief With Respect to Restructuring of Government 

Development Bank for Puerto Rico [Case No. 17-3283, Docket No. 3959]; Financial Oversight and 

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3. Counsel observing hearing in New York: Paul V. Possinger, Ehud Barak, 

and Margaret A. Dale.

4. Party for which counsel will appear: The FOMB

Dated: September 28, 2018

New York, NY

Respectfully submitted,

/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

Email: hermann.bauer@oneillborges.com

Martin J. Bienenstock (pro hac vice) 

Paul V. Possinger (pro hac vice)

Ehud Barak (pro hac vice)

Margaret A. Dale (pro hac vice) 

PROSKAUER ROSE LLP

Eleven Times Square 

New York, NY 10036 

Tel: (212) 969-3000

Fax: (212) 969-2900

Email: mbienenstock@proskauer.com 

Email: ppossinger@proskauer.com

Email: ebarak@proskauer.com

Email: mdale@proskauer.com

Attorneys for The Financial Oversight and 

Management Board for Puerto Rico, as the 

representative of The Commonwealth of 

Puerto Rico

 

Management Board’s Memorandum of Law in Support of Its Motion to Dismiss Complaint for Lack 

of Standing [Adv. Proc. No. 18-0101, Docket No. 7].

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