P.R. Laws tit. 13, § 113u
(a) A petitioner may obtain unsecured credit and incur unsecured debt allowable under §§ 113-113nn of this title as an administrative expense.
(b) If the petitioner is unable to obtain unsecured credit allowable as an administrative expense, the Court, after notice and a hearing, may authorize the obtaining of credit or the incurring of debt:
(1) With priority over any or all administrative expenses of the kind specified in § 113ff of this title;
(2) secured by a lien on property of the petitioner that is not otherwise subject to a lien;
(3) secured by a junior lien on property of the petitioner that is subject to a lien; or
(4) any combination of the preceding clauses (1), (2), and (3), in addition to allowance as an administrative expense.
(c) The Court, after notice and a hearing, may authorize the obtaining of credit or the incurring of debt secured by a senior or equal lien on the petitioner’s property that is subject to a lien only if:
(1) The petitioner is unable to obtain such credit otherwise; and
(2) either:
(A) The proceeds are needed to perform public functions and satisfy the requirements of § 111aa of this title; or
(B) there is adequate protection of the interest of the holder of the lien on the property of the petitioner on which such senior or equal lien is proposed to be granted.
(d) In any hearing pursuant to this section, the petitioner has the burden of proof.
(e) The reversal or modification on appeal of an authorization pursuant to this section to obtain credit or incur debt, or of a grant pursuant to this section of a priority or a lien, shall not affect the validity of any debt so incurred, or any priority or lien so granted, to an entity that extended such credit in good faith, whether or not such entity knew of the pendency of the appeal, unless such authorization and the incurring of such debt, or the granting of such priority or lien, was stayed pending appeal.
History —June 28, 2014, No. 71, § 322.