48 U.S.C. § 2178
In this section:
The term "List of Material Interested Parties" means the List of Material Interested Parties established under subsection (c)(1).
The term "Oversight Board" has the meaning given the term in section 2104 of this title.
In a case commenced under section 2164 of this title, no attorney, accountant, appraiser, auctioneer, agent, or other professional person may be compensated under section 2176 or 2177 of this title unless prior to making a request for compensation, the professional person has filed with the court a verified statement conforming to the disclosure requirements of rule 2014(a) of the Federal Rules of Bankruptcy Procedure setting forth the connection of the professional person with any entity or person on the List of Material Interested Parties.
A professional person that submits a statement under paragraph (1) shall promptly supplement the statement with any additional relevant information that becomes known to the person.
Subject to any other applicable law, rule, or regulation, a professional person that fails to file or update a statement required under paragraph (1) or files a statement that the court determines does not represent a good faith effort to comply with this section shall disclose such failure in any filing required to conform to the disclosure requirements under rule 2014(a) of the Federal Rules of Bankruptcy Procedure.
Not later than 30 days after January 20, 2022, the Oversight Board shall establish a List of Material Interested Parties subject to-
Except as provided in paragraph (3), the List of Material Interested Parties shall include-
The List of Material Interested Parties may not include any person with a claim, the amount of which is below a threshold dollar amount established by the court that is consistent with the purpose of this section.
The United States trustee shall review each verified statement submitted pursuant to subsection (b) and may file with the court comments on such verified statements before the professionals filing such statements seek compensation under section 2176 or 2177 of this title.
The United States trustee may object to applications filed under section 2176 or 2177 of this title that fail to satisfy the requirements of subsection (b).
In a case commenced under section 2164 of this title, in connection with the review and approval of professional compensation under section 2176 or 2177 of this title filed after January 20, 2022, the court may deny allowance of compensation or reimbursement of expenses if-
48 U.S.C. § 2178
EDITORIAL NOTES
REFERENCES IN TEXTThe Federal Rules of Bankruptcy Procedure, referred to in subsec. (b)(1), (3), are set out in the Appendix to Title 11, Bankruptcy.This section, referred to in subsec. (c)(3), was in the original "this Act", meaning Pub. L. 117-82, 136 Stat. 3, known as the Puerto Rico Recovery Accuracy in Disclosures Act of 2021 and also as PRRADA, which enacted this section and provisions set out as a note under section 2101 of this title.
CODIFICATIONSection was enacted as part of the Puerto Rico Recovery Accuracy in Disclosures Act of 2021, also known as PRRADA, and not as part of the Puerto Rico Oversight, Management, and Economic Stability Act, also known as PROMESA, which comprises this chapter.
- Executive Director
- The term "Executive Director" means an Executive Director appointed under section 2123(a) of this title.
- Oversight Board
- The term "Oversight Board" means a Financial Oversight and Management Board established in accordance with section 2121 of this title.
- Puerto Rico
- The term "Puerto Rico" means the Commonwealth of Puerto Rico.