What has been the number one challenge that has impacted you over the past year? 

Essentially, navigating and still understanding the financial and budgetary schemes as a result of the Puerto Rico Oversight, Management, and Economic Stability Act (“PROMESA”), Pub. L. 114-187, which is the Federal law approved by the U.S. Congress to deal with the Puerto Rico debt crisis. Specifically, PROMESA was devised to handle and overcome the bankruptcy of the government of Puerto Rico and several of its instrumentalities, and to achieve fiscal discipline to provide the island a renewed pathway to the markets, structural reforms and sustainable socioeconomic development. AAFAF is the Puerto Rico agency mainly responsible for implementing PROMESA.

As part of AAFAF, I have been coordinating and supervising a legal in-house team and a diverse group of highly specialized external firms and advisors to secure legal sufficiency and compliance with PROMESA.

As chief legal officer, I have been immersed directly in dealing with novel legal controversies, interpretations, legislative commentary and analysis of proposed legislation arising by virtue of PROMESA and the Fiscal Plans and budgets certified pursuant to the requirements and procedures set forth by the referenced Federal statute, and the Plan of Adjustment of the debt confirmed by the Federal Title III Court operation at the US District Court for the District of Puerto Rico.

I have been also leading litigation procedures in Federal and State Courts and participating in negotiations with Oversight Board officials related to novel controversies and interpretations where the Oversight Board has requested before the Title III Court, as allowed by PROMESA, the annulation of laws enacted by our elected leaders in the Legislative Assembly and our Governor.  Although the various cases already filed and solved in favor of the annulation of laws, there is still the need to obtain judicial determinations that clarify or delimited the powers and duties of the Oversight Board regarding this matters.

Could you share an example of a time when you came up with an innovation that improved how your legal team works and did not come at a large expense?

Establishment and leading of a working group with representation of the pertinent areas to review and update all rules and regulations of the agency.  AAFAF replaced by law and assumed the fiscal duties of the now Debt Recovery Authority (“DRA”) Governmental Development Bank (GDB).  Over the last years, the agency was following rules and regulations of the then GDB, as a transitory step allowed by the organic act of the agency.  Now, with integration of career employees, special staff and an external advisor into this working group, the agency is moving to assess and update its rules and regulations, taking advantage of this effort to eliminate unnecessary and outdated procedures and red tape.

What would you say are the unique qualities required to be successful as an in-house lawyer in your industry?

Knowledge of the organisation, integration and adequate communication and collaboration of key staff and external advisors. One has to be bold and at the same time flexible to work for the division, be interested in empowerment of the staff, open to all kind of feedback, multitask and possess empathy skills. There has to be a commitment and passion for the job, particularly in our agency where you have to deal with a tailored legal and financial scheme that still generates novelties in legal and fiscal matters as a result of PROMESA.