P.R. Laws tit. 13, § 112e

2019-02-20 00:00:00+00
§ 112e. Obtaining credit

(a) After the commencement of the suspension period, an eligible obligor may obtain credit in the same manner and on the same terms as a petitioner pursuant to § 113u of this title.

(b) Prior to or after the filing of an application for an approval order pursuant to § 112c of this title, the eligible obligor may, to the extent required by any entity seeking to extend credit pursuant to subsection (a), seek from the Court, after notice and a hearing, an order approving and authorizing it to obtain such credit.

(c) Credit obtained pursuant subsection (a) of this section may not be treated as an affected debt instrument under §§ 112-112f of this title or as affected debt under §§ 113-113nn of this title or avoided as a fraudulent transfer.

(d) If the eligible obligor subsequently seeks relief under §§ 113-113nn of this title, the credit extended pursuant to this section shall be entitled to same priority and security as if such credit had been extended in a case under §§ 113-113nn of this title.

(e) Subsection (e) of § 113u of this title shall apply to any order entered pursuant to subsection (b) of this section.

History —June 28, 2014, No. 71, § 206.