Marianas Variety

Last updateSat, 20 Oct 2018 12am

Headlines:

     

     

     

     

     

    Sunday, October 21, 2018-3:32:00P.M.

     

     

     

     

     

Font Size

Settings

US court approves $11K payment to Settlement Fund trustee

FEDERAL Judge Frances M. Tydingco-Gatewood has approved a payment amounting to $11,825.08 requested by Settlement Fund trustee Joyce C. H. Tang.

 The court, having reviewed the invoice, found Tang’s request for compensation and reimbursement of expenses to be reasonable.

“The court is satisfied with the work performed by the trustee during the month of Feb. 2018,” said  Tydingco-Gatewood, who was designated who preside the case in the  District Court for the NMI.

Joyce C. H. TangJoyce C. H. Tang

The court-approved payment represents 90 percent of the trustee’s professional fees and expenses incurred in Feb. 2018.

In her order on Thursday, Judge Tydingco-Gatewood also directed the Settlement Fund to hold in trust to the credit of the trustee the sum of $1,312.25, which represents 10 percent of the trustee’s professional fees for Feb. 2018.

She said the trustee may petition for the release of the 10 percent retainer on a quarterly basis subject to the court’s satisfaction of the trustee’s work and any objection to the trustee’s compensation requests.

Tang has requested $13,122.50 for work performed and $14.83 in expenses for a total of $13,137.33.

On Sept. 25, 2013, the federal court appointed the law firm of Civille & Tang and its principal representative, attorney Joyce Tang, as the Settlement Fund trustee.

The Settlement Fund was created by the federal court as part of the settlement between the CNMI government and a retiree who sued it for failing to make timely and regular payments to the CNMI Retirement Fund.

According to a previous court order, the trustee will receive a renumeration at a rate of $250 an hour subject to future increase by the court upon petition by the trustee.

The trustee is required to submit monthly requests for remuneration as well as a summary of time spent and expenses incurred during the month immediately preceding with a billing statement and request compensation.

The court will then review the request for reasonableness and will issue an order directing that payment be made to the settlement trustee.