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    Monday, August 26, 2019-8:33:41P.M.

     

     

     

     

     

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Court OK’s payment for Settlement Fund trustee

DISTRICT Court for the NMI designated Judge Frances M. Tydingco-Gatewood has approved attorney Joyce C. Tang’s request for compensation for work performed and expenses incurred from January to May 2019.

Tang is the court-appointed Settlement Fund trustee.

After reviewing the trustee’s invoices from January to May of this year, Judge Tydingco-Gatewood finds the request for compensation and reimbursement of expenses to be reasonable.

“The court is satisfied with the work performed by the trustee during this time frame,” she added.

She ordered the Settlement Fund to pay Tang $17,633.23, an amount that represents 90 percent of the trustee’s professional fees and expenses incurred from December 2018 through April 2019 with invoices dated January to May 2019.

In the same order, the judge directed the Settlement Fund to hold in trust and to the credit of the trustee $1,930 which represents 10 percent of the trustee’s professional fees for this time period.

The judge also granted Tang’s request for the release of $5,530, which reflects the 10 percent retainer withheld from invoices for services rendered and expenses incurred from April to November 2018.

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

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 NMI Retirement Fund.

In Feb. 2018, Tang was re-appointed as Settlement Fund trustee.

The trustee receives a renumeration at a rate of $250 an hour subject to future increase by the court upon petition by the trustee.

The trustee will submit monthly requests for remuneration and “shall also submit to the court a summary of time spent and expenses incurred during the month immediately preceding with a billing statement and request compensation.”