How were the members of the Official Committee of Retired Employees from the Government of Puerto Rico selected?
PROMESA includes certain sections of the Bankruptcy Code that provide for the appointment of committees of creditors with similar collective interests to assure adequate representation of those creditors’ collective interests.
In Puerto Rico’s Title III case there are two committees: (1) the Unsecured Creditors Committee (UCC); and (2) the Committee of Retired Employees of the Government of Puerto Rico (COR). The members of the COR were selected by the U.S. Trustee.
In forming the COR, the U.S. Trustee considered applications from individual retirees and conducted interviews.
On June 15, 2017 the U.S. Trustee filed a “Notice of Appointment” with the District Court, in which it identified the members appointed to the COR.