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Puerto Rico Bankruptcy Committee Sought

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Cesar Castillo (CCI) filed with the U.S. Bankruptcy Court a motion requesting Court appointment of an official unsecured creditors’ committee. CCI is listed on Schedule B to the petition with an unsecured claim of $6,008,917.52.

The motion explains, “As noted in Debtor’s Petition, CCI is listed as one of Debtor’s twenty largest unsecured Creditors. Pursuant to 11 U.S.C. 1102(a)(1), made applicable to this proceeding by Title III, Section 301 of PROMESA, as soon as practicable after the Order of relief has been entered, the U.S. Trustee shall appoint a committee of creditors holding the largest unsecured claims. Title III, Section 304(c) of PROMESA provides that the commencement of a case under PROMESA does constitute an order for relief.”

In addition, “In view of the foregoing, CCI hereby informs the Court of its availability and willingness to serve in the unsecured creditors’ committee, and requests the Court to order the appointment of an Unsecured Creditors Committee.”

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