USA, et al v. Vertac Chemical Corp, et al

Filing 2673

ORDER granting 2638 Motion for Attorney Fees; granting 2669 Motion to Approve/Approval fees and expenses; granting 2671 Motion to Dissolve the Receivership; and denying as moot 2670 Motion to Dismiss. The Receiver shall file notice by Ju ly 2, 2013 that he has made all final payments directed in this Order. Effective upon the filing of that notice, the Court discharges the Receiver, releases his bond and surety (United States Fidelity and Guaranty Company), and terminates the Receivership. This case is closed. Signed by Judge D. P. Marshall Jr. on 6/24/13. (kpr)

IN THE UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF ARKANSAS
WESTERN DIVISION
UNITED STATES OF AMERICA et al.

v.

PLAINTIFFS

No. 4:80-cv-109-DPM

VERTAC CHEMICAL CORPORATION et al.

DEFENDANTS

ORDER
The Court appreciates the Receiver's final papers. The remainder of the
February motion for fees, NQ 2638, and the new motion for fees and final
expenses, NQ 2669, are granted. The motion to dissolve the Receivership, NQ
2671, is granted. The superseded motion to dissolve, NQ 2670, is denied as

moot.
1. The Court approves the $3,488.00 payment to Clair Ramsay, for
conducting the final accounting. This was efficient and excellent work.
2. The Court approves the$ 7,752.05 payment to the Receiver's counsel.
This amount covers that part of a recent fee request held in abeyance, NQ 2648,
and compensates counsel for all work done through the final accounting.
3. The Court approves the $500.00 payment to Travis Bailey of Standard
Abstract for his extraordinary efforts on the title issues.
4. The Court approves the $10,000.00 payment to the Receiver. No one

has objected. The Receiver requested $7,500.00, but his lawyer says the
Receiver deserves a bit more. The Court agrees. The Receiver has not been
compensated since 1999. He has put in extra time with counsel and the
parties in the last two years to resolve the case. And he has been a good
steward of limited resources during the resolution efforts. The total payment
is reasonable in the circumstances.
5. The Court approves the $5,000.00 donation to UALR to help offset
the expenses of archiving the donated Vertac documents.
6. The Court approves the deed, Ng 26 71-1, reconveying from East Bay
to the City of Jacksonville certain portions of tracts 4,5, and 6, now subject to
restrictive covenants.
7. The Receiver shall pay any funds remaining in his hands to Hercules,
Inc., whose subsidiary has assumed responsibility for the site.
With the execution of the settlement agreement, the termination of the
1982 Consent Decree, Ng 2663, and the Court's approval of the final expenses,
the Receiver's work is almost done. He shall file notice by 2 July 2013 that he
has made all final payments directed in this Order. Effective upon the filing
of that notice, the Court discharges the Receiver, releases his bond and surety
(United States Fidelity and Guaranty Company), Ng 701, and terminates the
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Receivership. The Court thanks the Receiver for his many years of good
work. The Court directs the Clerk to close this case.
So Ordered.

D.P. Marshall Jr.
United States District Judge

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