P.R. Laws tit. 13, § 113r
(a) At a scheduled meeting of a creditors’ committee, at which a majority of the members of such creditors’ committee is present in person or by phone, the creditors’ committee may select and authorize the employment of up to two (2) law firms, one of which must be resident in the Commonwealth, and one financial advisor, to perform services for such creditors’ committee to be paid as administrative expenses in accordance with section § 113ff of this title; Provided, however, [That] upon seven (7) days’ notice to the petitioner and subject to the petitioner’s right to object, the general committee may retain one or more additional professionals, including law firms, when and if reasonably necessary to represent different constituencies of the general committee in respect of material issues. If the petitioner objects to the general committee’s proposed retention of any additional professional, the petitioner shall not be obligated to compensate such professional unless the Court rules its retention should be permitted.
(b) A creditors’ committee may only:
(1) Appear and be heard on any issue:
(A) Relating to the eligibility hearing pursuant to § 113e of this title;
(B) relating to adequate protection;
(C) involving new borrowing by the petitioner;
(D) concerning a transfer pursuant to § 113f of this title or the allocation of proceeds of transfer pursuant to § 113g of this title; and
(E) in connection with the plan, but solely as to matters regarding how the plan affects the creditors’ committee’s constituents;
(2) conduct a reasonable investigation into the petitioner’s legal and financial ability to increase distributions under the plan for the creditors’ committee’s constituents; and
(3) negotiate with the petitioner over the treatment of its constituents in the plan.
(c) A creditors’ committee appointed pursuant to § 113r of this title or its authorized agent shall receive copies of notices concerning motions and actions taken by the petitioner (and any objections thereto) pursuant to §§ 113f and 113g of this title, and §§ 113i-113o of this title.
(d) A creditors’ committee may request discovery in accordance with the Puerto Rico Rules of Civil Procedure, but only with respect to the matters enumerated in paragraphs (A)-(E) of subsection (b)(1) of this section.
(e) Subject to redaction of confidential or proprietary information, affected creditors who are not committee members may obtain the same discovery produced to the creditors’ committee and may obtain other discovery only, in each case, upon order of the Court for good cause shown.
(f) The committee shall not be a juridical entity capable of suing and being sued.
History —June 28, 2014, No. 71, § 319.