Securities and Exchange Commission v. Mantria Corporation et al

Filing 201

ORDER granting 195 The Receivers Fourth Application for Approval of Payment of Receivers Fees and Expenses for the Period from January 1, 2011 through March 31, 2011 by Judge Christine M. Arguello on 5/24/2011.(erv, )

IN THE UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF COLORADO
Judge Christine M. Arguello
Civil Action No. 09-cv-02676-CMA-MJW
SECURITIES AND EXCHANGE COMMISSION,
Plaintiff,
v.
MANTRIA CORPORATION,
TROY B. WRAGG,
AMANDA E. KNORR,
SPEED OF WEALTH, LLC,
WAYDE M. MCKELVY, and
DONNA M. MCKELVY,
Defendants.
_____________________________________________________________________
ORDER APPROVING PAYMENT OF RECEIVER’S FEES AND EXPENSES FOR
THE PERIODS OF OCTOBER 1, 2010 THROUGH DECEMBER 31, 2010
AND JANUARY 1, 2011 THROUGH MARCH 31, 2011, SUBJECT TO A
TWENTY PERCENT HOLDBACK
_____________________________________________________________________
This matter is before the Court on the Receiver’s Third Application for Approval
of Payment of Receiver’s Expenses for the Period from October 1, 2010 through
December 31, 2010 (“Third Application”) (Doc. # 160) and the Receiver’s Fourth
Application for Approval of Payment of Receiver’s Fees and Expenses for the Period
from January 1, 2011 through March 31, 2011 (“Fourth Application”) (Doc. # 195).
In connection with the Third Application, the Receiver seeks approval of payment
of the Receiver’s fees in the amount of $66,802.00 and expenses in the amount of
$753.44, as well as the fees and expenses of his Retained Personnel as follows:

Brownstein Hyatt Farber Schreck LLP, counsel for the Receiver, $31,036.50 in fees and
$274.55 in expenses; Baum & Gustafson, tax attorney for the Receiver, $2,432.00 in
fees (there were no expenses). (Doc. ## 160 through 160-7.)
In connection with the Fourth Application, the Receiver seeks approval of
payment of the Receiver’s fees in the amount of $12,096.00 and expenses in the
amount of $1,825.66 for the period from January 1, 2011 through March 31, 2011, as
well as the fees and expenses of his Retained Personnel as follows: Brownstein Hyatt
Farber Schreck LLP, counsel for the Receiver, $13,162.50 in fees and $3,480.52 in
expenses; Baum & Gustafson, tax attorney for the Receiver, $3,584.00 in fees and
$33.10 in expenses. (Doc. ## 195 through 195-6.) The Court being fully advised in
the premises, finds that granting the Applications is warranted, with a twenty percent
deduction, to be awarded at a later time, in the Court’s discretion, in connection with
the Receiver’s final fee application. (See Doc. # 82, ¶ 61.)
Accordingly, IT IS ORDERED THAT:
(1)

The Receiver’s Third Application for Approval of Payment of Receiver’s
Fees and Expenses for the Period from October 1, 2010 through
December 31, 2010 (Doc. # 160) is GRANTED WITH THE FOLLOWING
MODIFICATIONS and the following fees and expenses are to be paid out
as follows from the funds in the Receivership estate:

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(a)

The Receiver be paid a total of $54,044.35 for his fees and
expenses ($67,555.44 - $13,511.091) incurred for the period of
October 1, 2010 through December 31, 2010;

(b)

Brownstein Hyatt Farber Schreck, LLP, counsel for the Receiver,
be paid a total of $25,048.84 for its fees and expenses ($31,311.05
- $6,262.21) incurred for the period of October 1, 2010 through
December 31, 2010; and

(c)

Baum & Gustafson, tax accountant for the Receiver, be paid a total
of $1,945.60 ($2,432.00 - $486.40) for its fees incurred for the
period of October 1, 2010 through December 31, 2010.

(2)

The Receiver’s Fourth Application for Approval of Payment of Receiver’s
Fees and Expenses for the Period from January 1, 2011 through March
31, 2011 (Doc. # 195) is GRANTED WITH THE FOLLOWING
MODIFICATIONS and the following fees and expenses are to be paid
out as follows from the funds in the Receivership estate:
(a)

The Receiver be paid a total amount of $11,137.33 ($13,921.66 $2,784.33) for its fees and expenses incurred for the period of
January 1, 2011 through March 31, 2011;

(b)

Brownstein Hyatt Farber Schreck, LLP, counsel for the Receiver,
be paid a total amount of $13,314.42 ($16,643.02 - $3,328.60) for

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This represents a twenty percent holdback.

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its fees and expenses incurred for the period of January 1, 2011
through March 31, 2011; and
(c)

Baum & Gustafson, tax attorney for the Receiver, be paid a total of
$2,893.68 ($3,617.10 - $723.42) for its fees and expenses incurred
for the period of January 1, 2011 through March 31, 2011.

DATED: May

24

, 2011
BY THE COURT:

________________________________
CHRISTINE M. ARGUELLO
United States District Judge

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