Proposed Order

Case:17-03283-LTS Doc#:4279-5 Filed:11/16/18 Entered:11/16/18 16:21:21 Desc:

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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

Case No. 17 BK 3283-LTS

(Jointly Administered)

In re:

THE FINANCIAL OVERSIGHT AND 

MANAGEMENT BOARD FOR PUERTO RICO,

as representative of 

PUERTO RICO SALES TAX FINANCING 

CORPORATION, et al.,

Debtor.

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

PROMESA

Title III

Case No. 17 BK 3284-LTS

ORDER APPROVING

FOURTH INTERIM FEE APPLICATION OF PROSKAUER

ROSE LLP FOR COMPENSATION FOR SERVICES RENDERED AND 

REIMBURSEMENT OF EXPENSES INCURRED AS ATTORNEYS FOR THE 

FINANCIAL OVERSIGHT AND MANAGEMENT BOARD FOR PUERTO RICO,

AS REPRESENTATIVE OF THE DEBTOR, PUERTO RICO SALES TAX FINANCING 

CORPORATION, FOR THE PERIOD JUNE 1, 2018 THROUGH SEPTEMBER 30, 2018

 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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Upon the application (the “Application”) 2 of Proskauer Rose LLP (“Proskauer”), as 

attorneys for the Financial Oversight and Management Board for Puerto Rico (the “Oversight 

Board”) acting as representative of the Puerto Rico Sales Tax Financing Corporation (the 

“Debtor”) under section 315(b) of the Puerto Rico Oversight, Management, and Economic 

Stability Act (“PROMESA”),

3 seeking, pursuant to (a) PROMESA sections 316 and 317, (b) Rule 

2016 of the Federal Rules of Bankruptcy Procedure, (c) Local Rule 2016-1, (d) the United States 

Trustee Guidelines for Reviewing Applications for Compensation and Reimbursement of 

Expenses Filed under 11 U.S.C. § 330 by Attorneys in Larger Chapter 11 Cases issued by the 

Executive Office for the United States Trustee, 28 CFR Part 58, Appendix B, and (e) this Court’s

Second Amended Order Setting Procedures for Interim Compensation and Reimbursement of 

Expenses of Professionals [Case No. 17 BK 3283-LTS, ECF No. 3269], an allowance of interim 

compensation for professional services rendered by Proskauer for the period commencing June 1, 

2018 through and including September 30, 2018 in the amount of $1,177,407.10, $1,156,458.70 

of which represents fees earned outside of Puerto Rico and $20,948.40 of which represents fees 

earned in Puerto Rico, and for reimbursement of its actual and necessary expenses in the amount 

of $59,541.78 incurred during the Compensation Period; and, this Court having determined that 

the legal and factual bases set forth in the Application establish just cause for the relief granted 

herein; and after due deliberation and sufficient cause appearing therefore, it is hereby 

ORDERED that:

1. The Application is GRANTED as set forth herein.

2. Compensation to Proskauer for professional services rendered during the 

Compensation Period is allowed on an interim basis in the amount of $1,177,407.10,

 2 Capitalized terms not defined in this order will have the meanings ascribed to them in the Application.

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$1,156,458.70 of which represents fees earned outside of Puerto Rico and $20,948.40 of which 

represents fees earned in Puerto Rico.

3. Reimbursement to Proskauer for expenses incurred during the Compensation 

Period is allowed on an interim basis in the amount of $59,541.78.

4. The Debtor is authorized to pay Proskauer all fees and expenses allowed pursuant 

to this order, including those that were previously held back pursuant to the Interim 

Compensation Order, less any amounts previously paid for such fees and expenses under the 

terms of the Interim Compensation Order.

5. The Debtor is authorized to take all actions necessary to effectuate the relief 

granted pursuant to this order in accordance with the Application.

Dated: , 2019

San Juan, Puerto Rico Honorable Laura Taylor Swain 

United States District Judge

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

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