Securities and Exchange Commission v. Varacchi et al

Filing 29

ORDER granting 27 Motion for Attorney Fees. Signed by Judge Victor A. Bolden on 10/13/17. (McDonough, S.)

UNITED STATES DISTRICT COURT
DISTRICT OF CONNECTICUT

SECURITIES AND EXCHANGE
COMMISSION,
Plaintiff,

Civil Action No.
No. 3:17-cv-00155 (VAB)

v.
MARK J. VARACCHI and SENTINEL
GROWTH RUND MANAGEMENT, LLC,
Defendants,
and
RADAR ALTERNATIVE FUND LP and
RADAR ALTERNATIVE MASTER
FUND SPC,
Relief Defendants.
ORDER GRANTING MOTION FOR ATTORNEY FEES
Jed Horwitt, Esq., the Court-appointed Receiver in this action brought by the Securities
and Exchange Commission (the “SEC”), filed a First Interim Application for Attorney Fees and
Expenses Incurred on Behalf of the Receivership Estate. The application covers professional fees
and expenses incurred between May 1, 2017 and June 30, 2017. Mr. Horwitt shared his
application with counsel for the SEC, and the SEC stated that it has no objections to the
application. No objection has been filed.
In the application, Mr. Horwitt and his counsel, Zeisler & Zeisler, P.C., submitted a
summary of professional fees and expenses requested, prepared in accordance with the Billing
Instructions for Receivers in Civil Actions Commenced by the SEC and the Receivership Order.

The summary stated that the Receiver and his counsel agreed to public service discounts of their
typical hourly fees, and that they waived services rendered before appointment. The summary
also stated that the Receiver and his counsel spent 314.45 hours working on this matter, and that
they seek an award of $80,906.00 for professional services and $4,318.50 for reimbursement of
expenses. The Receiver and his counsel acknowledged that their fee compensation is subject to a
twenty-percent holdback, under SEC Guidelines and the Receivership Order.
This Court has reviewed the Application and supporting documentation and concludes
that the requested amounts of $80,906.00 for professional services and $4,318.50 for
reimbursement of expenses are fair and reasonable.
Accordingly, the Receiver’s Application (ECF No. 27) is GRANTED.
It is so ordered.
Dated at Bridgeport, Connecticut, this 13th day of October 2017.
/s/ VICTOR A. BOLDEN
Victor A. Bolden
United States District Judge

2