Carolina is a member at MPM and co-chair of the Bankruptcy & Insolvency Practice. 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. 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 and is the current president of the Federal Bar Association-Hon. Raymond L. Acosta Puerto Rico Chapter. Carolina has also been a member of the American Bankruptcy Institute’s Advisory Board for the 2022, 2023 and 2024 Caribbean Insolvency Symposium. She has been speaker at the American Bankruptcy Institute’s “Caribbean Insolvency Symposium”. In addition, Carolina has been interviewed and quoted by “The Deal” for the article “Pot Woes Pose Restructuring Questions” published in March 2020. Moreover, cases argued by Carolina before the First Circuit Court of Appeals, as lead counsel, have been analyzed and reported by Law360. 

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In addition to her leadership and membership roles at the Federal Bar Association and the American Bankruptcy Institute, 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 named by the American Bankruptcy Institute (ABI) to its “40 Under 40 List” which identifies 40 top insolvency industry professionals under the age of 40.

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Carolina has also been ranked by Chambers and Partners since 2020 through and including 2024. Chambers report, Latin America 2023, has described Carolina as a “young trailblazer in Puerto Rico, with a brilliant legal mind”. In the most recent Chamber report, Latin America 2024, which ranked Carolina is described as “a brilliant lawyer with a high level of attention to detail and a relentless commitment to the successful resolution of cases."

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Carolina has also been recognized by Best Lawyers®, Puerto Rico Edition (2021) (2022) (2023) (2024) as a leader in her field. Moreover, Legal 500® recognized Carolina as “Next General Partner” in 2022, 2023 and 2024. Legal 500® also recognized MPM noting that “[b]ankruptcy litigation and restructuring cases are also mainstays from the firm, the related team being led by Luis Marini-Biaggi and Carolina Velaz Rivero, who receive particular praise”.

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

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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.