Carolina concentrates her practice in all aspects of distressed situations and bankruptcy, representing institutional lenders, strategic investors, special situation funds, and other stakeholders in in-court and out-of-court restructurings, bankruptcy and litigation matters. Carolina is also involved in complex commercial litigation, including defense of lender liability suits and contract litigation. She regularly represents financial institutions, private equity funds, purchasers of distressed debt, and secured and unsecured creditors. In addition, she represents the Puerto Rico Fiscal Agency and Financial Advisory Authority in the bankruptcy proceedings of the Commonwealth of Puerto Rico and other public corporations under Title III of PROMESA. Carolina is admitted to practice law in the Commonwealth of Puerto Rico, the United States District Court for the District of Puerto Rico and the United States Court of Appeals for the First Circuit. Carolina is also an active notary public in the Commonwealth of Puerto Rico.
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Carolina regularly lectures on federal jurisdiction and insolvency and bankruptcy matters through, among others, the Federal Bar Association and the American Bankruptcy Institute. Carolina was a 2018 American Bankruptcy Institute “40 Under 40” Award Recipient. Carolina has also been a member of the American Bankruptcy Institute’s Advisory Board for the 2022, 2023, 2024 and 2025 Caribbean Insolvency Symposium. She is the immediate past president of the Federal Bar Association-Hon. Raymond L. Acosta Puerto Rico Chapter and the current Vice President for the First Circuit as part of the national Federal Bar Association. In 2024 she was also inducted to the 2024 Fellows Class of the Foundation of the Federal Bar Association which recognizes individuals who have demonstrated exceptional commitment to and leadership within the Federal Bar Association and the legal community. Carolina is also a board member of the Instituto Iberoamericano de Derecho Concursal and a member of the International Women’s Insolvency & Restructuring Confederation and the Puerto Rico Bankruptcy Bar.
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Carolina has been ranked by Chambers and Partners Latin American Guide since 2020 through and including 2025 as a leader in her field Dispute Resolution: Bankruptcy which has described Carolina as a “young trailblazer in Puerto Rico, with a brilliant legal mind” and as “a brilliant lawyer with a high level of attention to detail and a relentless commitment to the successful resolution of cases.” She has also been recognized by Legal 500® as “Next Generation Partner”. She has also been ranked by Best Lawyers®, Puerto Rico Edition since 2021 to the present as a leader in her field.

In addition, Carolina has published multiple articles regarding federal jurisdiction and insolvency and bankruptcy matters and has been interviewed and quoted by “The Deal” for the article “Pot Woes Pose Restructuring Questions”. Moreover, cases argued by Carolina before the First Circuit Court of Appeals, as lead counsel, have been analyzed and reported by Law360.

Prior to joining MPM, Carolina worked for several years at a major firm in Puerto Rico, focusing her practice on insolvency and bankruptcy.

She holds a bachelor’s degree from Dartmouth College, where she majored in Government and minored in Italian Literature. She obtained her Juris Doctor from the University of Puerto Rico, where she was an assistant editor of the University of Puerto Rico Law Journal.

Education

• Dartmouth College- Bachelor of Arts, Major in Government and Minor in Italian Literature, 2008
• University of Puerto Rico-Juris Doctor, 2011

Bar Admissions

• Commonwealth of Puerto Rico
• District Court of Puerto Rico
• First Circuit Court of Appeals

Past Employment:

• O’Neill & Borges- 2011-2018 (Associate)

Professional Associations:

• American Bankruptcy Institute
• Federal Bar Association
• Foundation of the Federal Bar Association
• International Women’s Insolvency & Restructuring Confederation
• Instituto Iberoamericano de Derecho Concursal
• Puerto Rico Bankruptcy Bar

Recent Speaking Engagements

• Lecturer on Federal Jurisdiction for the Puerto Rico Federal Bar Review Course (2019-present)
• Panelist, Remote Control: Not Just for Toys Anymore, Winter Leadership Conference, American Bankruptcy Institute (2024)
• Panelist, La Práctica de la Profesión Legal Ante el Tribunal Federal, University of Puerto Rico Law School (2024)
• Speaker at the Swearing in Ceremony of Magistrate Judge Héctor L. Ramos (2024)
• Panelist, Tratamiento de los Grupos Empresariales desde la Visión Concursal, Lima, Peru, Instituto Iberoamericano de Derecho Concursal (2024).
• Panelist, Pathways to Federal Practice: Insights and Inspiration from Federal Practitioners, University of Puerto Rico Law School (2024)
• Moderator, Growing Client Relationships and Your Practice: Doing What Seems Obvious But Not Easy, Federal Bar Association, Puerto Rico Chapter (2024)
• Speaker at the Court’s Special Session to Honor the Retirement of Judge Daniel R. Domínguez (2023)
• Panelist, Cannabis Business and Cannabis-Related Income Streams in Chapter 11 Cases, Caribbean Insolvency Symposium, American Bankruptcy Institute, (2020)

• The Business of Bankruptcy: Becoming a Bankruptcy Lawyer, From the Bar, a Publication of the Federal Bar Association, Spring 2024, Issue No. 64 (co-author).
• Remarks of Our Chapter President at the Court’s Special Session to Honor the Retirement of Judge Daniel R. Domínguez, From the Bar, a Publication of the Federal Bar Association, Summer 2024, Issue No. 65
• Remarks of Our Chapter President at the Swearing in Ceremony of Magistrate Judge Héctor L. Ramos, From the Bar, a Publication of the Federal Bar Association, Summer 2024, Issue No. 65

• Bankruptcy Practice
• Bankruptcy Litigation
• Bank Finance
• Government and PROMESA Bankruptcy Representation
• Prepackaged and Prearranged Chapter 11 Cases
• Distressed M&A
• Workout, Restructurings, and Transfers
• Foreclosures, Collections, & Transfer of Collateral
• Financial Services & Insolvency Related Litigation
• Private Credit
• Real Estate
• Government Affairs
• Appellate Practice
• General Contract, Commercial and Business Disputes

• “Carolina Velez-Rivero is a brilliant lawyer with a high level of attention to detail and a relentless commitment to the successful resolution of cases.”
  – Chambers & Partners, Latin America Guide, 2024

• “In highly complex cases, they explain the issues in a way that the client feels well informed of the situation and the potential alternatives.”
  – Chambers & Partners, Latin America Guide, 2025

• “She is a young trailblazer in Puerto Rico, with a brilliant legal mind.”
  – Chambers & Partners, Latin America Guide, 2023

• “Carolina Velaz-Rivero is very knowledgeable and responsive.”
  – Chambers & Partners, Latin America Guide, 2025

• “A reliable lawyer, she is very competent in negotiations.”
  – Chambers & Partners, Latin America Guide, 2022