IN RE FIN. OVERSIGHT AND MGMT. BD. FOR PUERTO RICO

Case No. 17-BK-3283 (LTS) (Jointly Administered) Adv. Proc. No. 18-00028 (LTS).

578 F.Supp.3d 267 (2021)

IN RE: The FINANCIAL OVERSIGHT AND MANAGEMENT BOARD FOR PUERTO RICO, as representative of The Commonwealth of Puerto Rico, et al., Debtors. Cooperativa de Ahorro y Crédito Abraham Rosa, et al., Plaintiffs, v. The Commonwealth of Puerto Rico, et al., Defendants.

United States District Court, D. Puerto Rico.

Signed December 27, 2021.


Attorney(s) appearing for the Case

HARRY ANDUZE MONTANO LAW OFFICES, By: Harry Anduze , Diego R. Corral , Harry Anduze Montano Law Offices, 1454 Fernandez Juncos Ave., San Juan, PR 00909, DESPACHO JURIDICO RAMOS LUINA LLC, By: Guillermo J. Ramos Luiña , P.O. Box 22763, UPR Station, San Juan, PR 00931, Counsel for Cooperativa de Ahorro y Credito Abraham Rosa, Cooperativa de Ahorro y Credito Vega Alta, Cooperativa de Ahorro y Credito Dr. Manuel Zeno Gandia, Cooperativa de Ahorro y Credito de Ciales, Cooperativa de Ahorro y Credito de Juana Diaz, Cooperativa de Ahorro y Credito de Rincon.

O'NEILL & BORGES LLC, By: Hermann D. Bauer Alvarez , Carla García Benítez , 250 Muñoz Rivera Ave., Suite 800, San Juan, PR 00918-1813, PROSKAUER ROSE LLP, By: Martin J. Bienenstock , Timothy W. Mungovan , Stephen L. Ratner , Eleven Times Square, New York, NY 10036, Counsel for The Financial Oversight and Management Board for Puerto Rico, on its own behalf and as representative of the Debtors the Commonwealth of Puerto Rico, the Puerto Rico Sales Tax Financing Corporation, the Puerto Rico Highways and Transportation Authority, the Employees Retirement System of the Government of the Commonwealth of Puerto Rico, the Puerto Rico Electric Power Authority, and the Public Buildings Authority, and as attorneys for the Oversight Board's individual members, José B. Carrión III, Andrew G. Biggs, Carlos M. Garcia, Arthur J. González, José R. González, Ana J. Matosantos, and David A. Skeel, Jr.

MARINI PIETRANTONI MUNIZ LLC, By: Luis C. Marini Biaggi , Carolina Vielaz Rivero, 250 Ponce de León Ave., Suite 900, San Juan, PR 00918, Counsel for Government Development Bank and Puerto Rico Fiscal Agency and Financial Advisory Authority.

O'MELVENY & MYERS LLP, By: Elizabeth L. Mckeen , 610 Newport Center Drive, 17th Floor, Newport Beach, CA 92600 and By: Suzzanne Uhland , Times Square Tower, 7 Times Square, New York, NY 10026, Counsel for Puerto Rico Fiscal Agency and Financial Advisory Authority.

CANCIO COVAS & SANTIAGO, LLP, By: Charles E. Vilaró Valderrábano , Ileana M. Oliver Falero , MCS Plaza, Suite A-267, 255 Ave. Ponce de León, San Juan, Puerto Rico 00917, KING & SPALDING LLP, By: Arthur Steinberg , Floyd C. Newton , Scott I. Davidson , 1185 Avenue of the Americas, New York, NY 10036, Counsel for GDB Debt Recovery Authority and Its Trustees Matthew Karp, Jorge L. Padilla, and David Pauker.

DELIZ LEGAL LLC, By: Juan Carlos Deliz , Plaza 650, Suite 502, 650 Munoz Rivera Ave., San Juan, PR 00918, CAPARRA HILLS2, By: Luz Celenia Molinelli Gonzalez , H 24 Calle Yagrumo, Guaynabo, PR 00968, Counsel for Corporacion Publica para la Supervision y Seguro de Cooperativas de Puerto Rico ("COSSEC").

CASILLAS, SANTIAGO & TORRES LLC, By: Juan J. Casillas Ayala, Esq. , Israel Fernández Rodríguez, Esq. , Juan C. Nieves González, Esq. , Cristina B. Fernández Niggemann, Esq. , PO Box 195075, San Juan, PR 00919-5075, PAUL HASTINGS LLP, By: Luc. A. Despins, Esq. , G. Alexander Bongartz, Esq. , 200 Park Avenue, New York, New York 10166 and By: Nicholas A. Bassett, Esq , 875 15th Street, N.W., Washington, D.C. 20005, Counsel for the Official Committee of Unsecured Creditors for all Title III Debtors (except for PBA and COFINA).


PROMESA

Title III

MEMORANDUM OPINION GRANTING DEFENDANTS' MOTIONS TO DISMISS SECOND AMENDED COMPLAINT

Plaintiffs are six state-chartered credit unions that are part of a financial cooperative system (the "Cooperatives") that provides banking and financial services to...

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