With an allocated budget of $90 million for the current fiscal year, the Fiscal Agency and Financial Advisory Authority (FAFAA) has already spent $39,069,429 in contracts, out of which at least $36,350,000 correspond to legal counseling and advisory services from international firms.

FAFAA renewed its contracts with V2A, Greenberg Traurig, Pietrantoni Mendez <><>& Alvarez, Rothschild, and Bluhaus Capital for legal advisory and consulting services./p

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Meanwhile, DLA Piper, O’Melveny <><><><><><><><><><><><><><><><><><><><> Myers, and Ocasio Law Firm were contracted for legal services up until June 30, 2018./p

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The following is an outline of the contract amounts and provisions:/p

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– DLA Piper (Puerto Rico): $350,000/p

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DLA Piper’s local branch provides legal representation services from attorneys José Sosa Llorens, Miriam de Lourdes Figueroa, Adriana Perez Rentas, Elena Ortíz Chiqués, Manuel López Zambrana, and Andrés Fortuño García. The agreement allows the reimbursement of expenses associated with rendered services, not to exceed 5% of the total amount./p

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– DLA Piper (US): $350,000/p

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DLA Piper has a team of lawyers available to cover public finances, restructuring, capital markets, governmental issues, and federal taxes, among other fields. And just like the local branch, they have agreed to reimburse up to 5% of service-related expenses./p

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– Rothschild: $15,700,000/p

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From the total amount, $460,000 is allocated for expenses related to rendered services, and the rest is allocated to services to be rendered in the future. These expenses include consulting costs for certain agencies. Consulting services for PREPA ($200,000 per month), PRASA ($200,000 per month), and other government agencies ($750,000 per month). Consulting services for municipalities ($60,000) and PPPs ($60,000)./p

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– Greenberg Traurig: $1,750,000/p

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According to the document, services to be rendered include assistance to FAFAA in everything related to the rights of government or government corporation creditors, for which $500,000 from the total has been allocated. The Authority will also pay an hourly fee—not to exceed $1,092 per hour—for services provided to prepare and attend Title III proceedings in federal court. They have also allocated $250,000 for reimbursable expenses./p

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– O’Melveny <><><><><><><><><><><><><><><> Myers: $18,000,000/p

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The total amount includes all services related to legal representation under Title III, as well as unrelated services. The firm has also promised to offer a 5% discount after the first $5 million have been paid, and 10% after exceeding $10 million./p

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– V2A: $600,000/p

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For a fixed monthly fee of $50,000, the company has made a commitment to continue helping the PRHTA in establishing a Project Management Office and complying with the Fiscal Plan./p

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– Ocasio Law Firm: $60,000/p

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Paid to attorney Ferdinand Ocasio to provide services in legislative issues, at an hourly fee of $125. The contract states that service-related expenses will also be reimbursed./p

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– Bluhaus Capital: $540,000/p

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We requested the Bluhaus contract from the Comptroller’s Office, but although we accessed most of the contracts, we did not receive this one. The amount is stated in the Comptroller’s contract registry./p