{"id":6758,"date":"2019-01-07T13:35:12","date_gmt":"2019-01-07T19:35:12","guid":{"rendered":"https:\/\/www.investorlawyers.com\/?p=6758"},"modified":"2022-05-19T09:58:43","modified_gmt":"2022-05-19T14:58:43","slug":"puerto-ricos-fiscal-oversight-board-reportedly-will-pay-advisor-brown-rudnick-790-hour","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/puerto-ricos-fiscal-oversight-board-reportedly-will-pay-advisor-brown-rudnick-790-hour\/","title":{"rendered":"Puerto Rico\u2019s Fiscal Oversight Board Reportedly Will Pay Advisor Brown Rudnick $790\/Hour"},"content":{"rendered":"<p>\t\t\t\tAccording to Puerto Rican local new site <em><a href=\"https:\/\/www.noticel.com\" target=\"_blank\" rel=\"noopener noreferrer\">Noticel.com<\/a><\/em>, the US Territory&#8217;s Financial Oversight and Management Board, which has chosen Brown Rudnick as its claims advisor, will pay the law firm $790 an hour\u2014a figure that reportedly will rise 4% annually and does not include its team&#8217;s travel expenses that the island&#8217;s government will also pay for. Considering that the Fiscal Oversight Board was appointed to help Puerto Rico restructure its financing and deal with its over $70 billion of debt, there are significant questions as to whether this is the best allocation of the island\u2019s limited financial resources.<\/p>\n<p>Another local news source, <em><a href=\"https:\/\/caribbeanbusiness.com\" target=\"_blank\" rel=\"noopener noreferrer\">Caribbean Business<\/a><\/em>, reports that Brown Rudnick\u2019s job will be to help the Board\u2019s Special Claims Committee look into possible claims that may result from the findings in the debt probe recently conducted by Kobre &amp; Kim. The disputes and investigative international law firm had put together a <a href=\"https:\/\/drive.google.com\/file\/d\/19-lauVo3w9MPS03xYVe0SWhQin-Q6FEf\/view\" target=\"_blank\" rel=\"noopener noreferrer\">600-page report<\/a> on its investigation, which was published a few months ago.<\/p>\n<p>News of Brown Rudnick\u2019s appointment came almost immediately after the <a href=\"http:\/\/creditorspr.com\" target=\"_blank\" rel=\"noopener noreferrer\">Official Committee of Unsecured Creditors<\/a> asked for discovery to look into possible claims. According to <em>Caribbean Business<\/em>, the Committee wants to know if the Puerto Rican government has \u201cclaims toward third parties,\u201d which the Committee feels that Kobre &amp; Kim did not look into during its probe.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/puerto-ricos-fiscal-oversight-board-reportedly-will-pay-advisor-brown-rudnick-790-hour\/\"  title=\"Continue Reading Puerto Rico\u2019s Fiscal Oversight Board Reportedly Will Pay Advisor Brown Rudnick $790\/Hour\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>According to Puerto Rican local new site Noticel.com, the US Territory&#8217;s Financial Oversight and Management Board, which has chosen Brown Rudnick as its claims advisor, will pay the law firm $790 an hour\u2014a figure that reportedly will rise 4% annually and does not include its team&#8217;s travel expenses that the island&#8217;s government will also pay [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6762,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[4051],"tags":[3248,3249],"class_list":["post-6758","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-puerto-rico-debt-crisis","tag-brown-rudnick","tag-financial-oversight-and-management-board"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Puerto Rico\u2019s Fiscal Oversight Board Reportedly Will Pay Advisor Brown Rudnick $790\/Hour &#8212; Investor Lawyers Blog &#8212; January 7, 2019<\/title>\n<meta name=\"description\" content=\"Brown Rudnick the claims advisor, will be paid $790 an hour\u2014a figure that reportedly will rise 4% annually and does not include its team&#039;s travel expenses that the island&#039;s government will also pay for.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/puerto-ricos-fiscal-oversight-board-reportedly-will-pay-advisor-brown-rudnick-790-hour\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Puerto Rico\u2019s Fiscal Oversight Board Reportedly Will Pay Advisor Brown Rudnick $790\/Hour &#8212; Investor Lawyers Blog &#8212; January 7, 2019\" \/>\n<meta name=\"twitter:description\" content=\"Brown Rudnick the claims advisor, will be paid $790 an hour\u2014a figure that reportedly will rise 4% annually and does not include its team&#039;s travel expenses that the island&#039;s government will also pay for.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2019\/01\/1.7.19.jpeg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Puerto Rico\u2019s Fiscal Oversight Board Reportedly Will Pay Advisor Brown Rudnick $790\/Hour &#8212; Investor Lawyers Blog &#8212; January 7, 2019","description":"Brown Rudnick the claims advisor, will be paid $790 an hour\u2014a figure that reportedly will rise 4% annually and does not include its team's travel expenses that the island's government will also pay for.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/puerto-ricos-fiscal-oversight-board-reportedly-will-pay-advisor-brown-rudnick-790-hour\/","twitter_card":"summary_large_image","twitter_title":"Puerto Rico\u2019s Fiscal Oversight Board Reportedly Will Pay Advisor Brown Rudnick $790\/Hour &#8212; 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