- Published on Wednesday, July 04, 2012 00:00
- Written by By Alexie Villegas Zotomayor - Reporter
- Hits: 613
SEEKING to avoid expenses and burden that go with serving notices of fee applications and other payment requests, the Retirement Fund filed an ex parte motion on July 2 for entry of order establishing notice of procedures for fee applications.Through its counsels, the Fund sought an order authorizing service of fee applications.
The Fund asked that all copies of fee applications and all attachments to be served on the United States Trustee and counsel for the Creditors Committee.
It also requested that copies of fee applications, without “voluminous attachments” to be served on all parties who have filed notices of appearance and requests for service of filings.
The Fund, the debtor in this soon-to-be concluded Chapter 11 case, had consulted with the U.S. Trustee and Don Jeffrey Gelber, counsel to the Creditors Committee.
It also informed the court that the parties “are in substantial agreement” with the Fund’s proposal.
The memorandum of decision by U.S. Bankruptcy Judge Robert J. Faris established a process for parties to assert fee and other administrative expense claims for consideration and payment in advance of entry of an Order dismissing the case.
Faris directed the Fund to provide notice of such requests, providing no less than 14 days to object to any such request.
In asking for fee applications be directed to the U.S. Trustee, the Fund counsels cited Federal Rule of Bankruptcy Procedure 2002 (i).
According to the debtor, the Federal Rule of Bankruptcy Procedure 2002(i) provides that the Court may Order that notices of hearings on requests for compensation or reimbursement in excess of $1,000 (as contemplated in Rule 2002(a)(6) be transmitted to the United States Trustee and mailed only to a committee appointed under Bankruptcy Code Section 1102.
Based on court filings, the professionals are seeking approximately $850,000 in legal fees and administrative expenses.
This includes the fees and expenses incurred by Brown Rudnick LLP, $765,937.85; Attorney Braddock J. Huesman, 11,247.00; creditors’ committee’s counsel Don Jeffrey Gelber, $65,124.61; creditors’ committee expenses, $336.90; and Thompson Law Office LLC, $1,960 in fees and $382.50 in expenses.
Before the petition date, the Fund paid $250,000 in retainer to Brown Rudnick.
This amount included $15,000 paid to AlixPartners LLC which served as the Fund’s prepetition public relations advisor.
The Fund has been in bankruptcy proceeding since April 17 and is expecting Faris to enter his written order upon payment of the professionals.
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