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48 U.S.C. § 2194 — Compensation of professionals
Federal law — U.S. Code and appendices · legal_authorities
**(a) Compensation for services rendered and reimbursement for expenses** After notice to the parties in interest and the United States Trustee and a hearing, the court may award to a professional person employed by the debtor (in the debtor’s sole discretion), the Oversight Board (in the Oversight Board’s sole discretion), a committee under [section 1103 of title 11](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section1103&num=0&edition=prelim), or a trustee appointed by the court under [section 926 of title 11](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section926&num=0&edition=prelim)—
(1) reasonable compensation for actual, necessary services rendered by the professional person, or attorney and by any paraprofessional person employed by any such person; and
(2) reimbursement for actual, necessary expenses.
**(b) Award of compensation less than amount requested** The court may, on its own motion or on the motion of the United States Trustee or any other party in interest, award compensation that is less than the amount of compensation that is requested.
**(c) Factors considered** In determining the amount of reasonable compensation to be awarded to a professional person, the court shall consider the nature, the extent, and the value of such services, taking into account all relevant factors, including—
(1) the time spent on such services;
(2) the rates charged for such services;
(3) whether the services were necessary to the administration of, or beneficial at the time at which the service was rendered toward the completion of, a case under this chapter; 11 See References in Text note below.
(4) whether the services were performed within a reasonable amount of time commensurate with the complexity, importance,
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Stable record: federal_law:legal_authorities:record_usc_3d645c8cf4fa1bb47ca439d4
Source file: Laws/federal/codes/united-states-code/title-48/section-2194-compensation-of-professionals--f7d37bb305.md
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Source location: Title 48, Chapter 20, § 2194; chapter-020-puerto-rico-oversight-management-and-economic-stability.md
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**(a) Compensation for services rendered and reimbursement for expenses** After notice to the parties in interest and the United States Trustee and a hearing, the court may award to a professional person employed by the debtor (in the debtor’s sole discretion), the Oversight Board (in the Oversight Board’s sole discretion), a committee under [section 1103 of title 11](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section1103&num=0&edition=prelim), or a trustee appointed by the court under [section 926 of title 11](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section926&num=0&edition=prelim)—
(1) reasonable compensation for actual, necessary services rendered by the professional person, or attorney and by any paraprofessional person employed by any such person; and
(2) reimbursement for actual, necessary expenses.
**(b) Award of compensation less than amount requested** The court may, on its own motion or on the motion of the United States Trustee or any other party in interest, award compensation that is less than the amount of compensation that is requested.
**(c) Factors considered** In determining the amount of reasonable compensation to be awarded to a professional person, the court shall consider the nature, the extent, and the value of such services, taking into account all relevant factors, including—
(1) the time spent on such services;
(2) the rates charged for such services;
(3) whether the services were necessary to the administration of, or beneficial at the time at which the service was rendered toward the completion of, a case under this chapter; 11 See References in Text note below.
(4) whether the services were performed within a reasonable amount of time commensurate with the complexity, importance, and nature of the problem, issue, or task addressed;
(5) with respect to a professional person, whether the person is board certified or otherwise has demonstrated skill and experience in the restructuring field; and
(6) whether the compensation is reasonable based on the customary compensation charged by comparably skilled practitioners in cases other than cases under this subchapter or title 11.
**(d) Services ineligible for compensation** The court shall not allow compensation for—
(1) unnecessary duplication of services; or
(2) services that were not—
(A) reasonably likely to benefit the debtor; or
(B) necessary to the administration of the case.
**(e) Offset for interim compensation under [section 2177 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title48-section2177&num=0&edition=prelim)** The court shall reduce the amount of compensation awarded under this section by the amount of any interim compensation awarded under [section 2177 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title48-section2177&num=0&edition=prelim), and, if the amount of such interim compensation exceeds the amount of compensation awarded under this section, may order the return of the excess to the debtor.
**(f) Compensation for preparation of fee application** Any compensation awarded for the preparation of a fee application shall be based on the level and skill reasonably required to prepare the application.
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Federal law — U.S. Code and appendices · legal_authorities
A lease to a territory or territorial instrumentality shall not be treated as an executory contract or unexpired lease for the purposes of section 365 or 502(b)(6) of title 11 solely by reason of the lease being subject to termination in the event the debtor fails to appropriate rent.
Source: Supplied U.S. Code snapshot — release unconfirmed · 48 U.S.C. § 2177
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** If the debtor refuses to pursue a cause of action under section 544, 545, 547, 548, 549(a), or 550 of this title, then on request of a creditor, the court may appoint a trustee to pursue such cause of action.
**(b)** A transfer of property of the debtor to or for the benefit of any holder of a bond or note, on account of such bond or note, may not be avoided under [section 547 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section547&num=0&edition=prelim).
Source: Supplied U.S. Code snapshot — release unconfirmed · 11 U.S.C. § 926
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** At a scheduled meeting of a committee appointed under [section 1102 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section1102&num=0&edition=prelim), at which a majority of the members of such committee are present, and with the court’s approval, such committee may select and authorize the employment by such committee of one or more attorneys, accountants, or other agents, to represent or perform services for such committee.
**(b)** An attorney or accountant employed to represent a committee appointed under [section 1102 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section1102&num=0&edition=prelim) may not, while employed by such committee, represent any other entity having an adverse interest in connection with the case. Representation of one or more creditors of the same class as represented by the committee shall not per se constitute the representation of an adverse interest.
**(c)** A committee appointed under [section 1102 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section1102&num=0&edition=prelim) may—
(1) consult with the trustee or debtor in possession concerning the administration of the case;
(2) investigate the acts, conduct, assets, liabilities, and financial condition of the debtor, the operation of the debtor’s business and the desirability of the continuance of such business, and any other matter relevant to the case or to the formulation of a plan;
(3) participate in the formulation of a plan, advise those represented by such committee of such committee’s determinations as to any plan formulated, and collect and file with the court acceptances or rejections of a plan;
(4) request the appointment of a trustee or examiner unde
Source: Supplied U.S. Code snapshot — release unconfirmed · 11 U.S.C. § 1103
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Protection of creditors** While an Oversight Board for Puerto Rico is in existence, if any property of any territorial instrumentality of Puerto Rico is transferred in violation of applicable law under which any creditor has a valid pledge of, security interest in, or lien on such property, or which deprives any such territorial instrumentality of property in violation of applicable law assuring the transfer of such property to such territorial instrumentality for the benefit of its creditors, then the transferee shall be liable for the value of such property.
**(b) Enforceability** A creditor may enforce rights under this section by bringing an action in the United States District Court for the District of Puerto Rico after the expiration or lifting of the stay of [section 2194 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title48-section2194&num=0&edition=prelim), unless a stay under subchapter III is in effect.
Source: Supplied U.S. Code snapshot — release unconfirmed · 48 U.S.C. § 2211
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Federal law — U.S. Code and appendices · legal_authorities
Page 375
TITLE 48—TERRITORIES AND INSULAR POSSESSIONS
§ 2194
(3) to alter, amend, or abrogate any provi-
sion of the Covenant To Establish a Common-
wealth of the Northern Mariana Islands in Po-
litical Union With the United States of Amer-
ica (48 U.S.C. 1801 et seq.); or
(4) to alter, amend, or abrogate the treaties
of cession regarding certain islands of Amer-
ican Samoa (48 U.S.C. 1661).
(Pub. L. 114–187, title IV, § 401, June 30, 2016, 130
Stat. 585.)
Editorial Notes
REFERENCES IN TEXT
This chapter, referred to in text, was in the original
‘‘this Act’’, meaning Pub. L. 114–187, June 30, 2016, 130
Stat. 549, known as the Puerto Rico Oversight, Manage-
ment, and Economic Stability Act and also as
PROMESA, which is classified principally to this chap-
ter. For complete classification of this Act to the Code,
see Short Title note set out under section 2101 of this
title and Tables.
The Covenant to Establish a Commonwealth of the
Northern Mariana Islands in Political Union with the
United States of America, referred to in par. (3), is con-
tained in section 1 of Pub. L. 94–241, set out as a note
under section 1801 of this title.
§ 2192. Right of Puerto Rico to determine its fu-
ture political status
Nothing in this chapter shall be interpreted to
restrict Puerto Rico’s right to determine its fu-
ture political status, including by conducting
the plebiscite as authorized by Public Law
113–76.
(Pub. L. 114–187, title IV, § 402, June 30, 2016, 130
Stat. 586.)
Editorial Notes
REFERENCES IN TEXT
This chapter, referred to in text, was in the original
‘‘this Act’’, meaning Pub. L. 114–187, June 30, 2016, 130
Stat. 549, known as the Puerto Rico Oversight, Manage-
ment, and Economic Stability Act and also as
PROMESA, which is classified principally to
Source: Supplied 2024 U.S. Code historical extraction · 48 U.S.C. § 2194
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.