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Unsecured Creditors Committee to host informative sessions for voting

The Unsecured Creditors Committee, one of the parties participating in the restructuring process of some $73 billion in government debt, announced it will be hosting several informative sessions for creditors who may have received voting ballots.

The creditors may have recently received a Class 58 or Class 66 ballot to vote to accept or reject the Plan of Adjustment for the Commonwealth of Puerto Rico and certain of its instrumentalities — namely, the Employees Retirement System (ERS) and Public Buildings Administration (PBA) — whose plan was prepared and filed by the Financial Oversight and Management Board for Puerto Rico at the US District Court for Puerto Rico.

The first two will take place Sept. 23-24, at 9 a.m. and 12 noon, respectively, at Universidad Universal, 269 C. México, in Hato Rey.

Space is limited, so the committee is encouraging participants to confirm their attendance by sending an email to douglassbarron@paulhastings.com. Valid evidence of vaccination will be required at the entrance.

In addition, a virtual informative session will be held Oct. 2, 2021, at 10 a.m. To register for this session, send an email to douglassbarron@paulhastings.com.

Among other things, the Plan of Adjustment establishes how much the Commonwealth of Puerto Rico (and ERS and PBA) will pay its creditors. The ballot was sent to you to solicit the creditor’s vote to accept or reject the Plan of Adjustment, including consent to the injunction and release provisions of the Plan if the vote is in favor.

The deadline to submit the ballot is Oct. 4, 2021, at 5 p.m., the Committee confirmed.

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This story was written by our staff based on a press release.

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