Securites and Exchange Commission v.Morriss et al

Filing 434

MEMORANDUM AND ORDER: IT IS HEREBY ORDERED that the receivers Application (ECF No. 426) is granted. IT IS FURTHER ORDERED that the following fees are allowed and the receiver is authorized to make the following payments out of the assets of the receivership estate: (1) $219,403.95 to Thompson Coburn LLP; (2) $12,598.55 to Segue Equity Group, LLC; (3) $17,915.78 to CliftonLarsenAllen; (4) $566.43 to Pepper Hamilton LLP; and (5) $2,984.00 to FTL Capital. Signed by District Judge Carol E. Jackson on 1/20/2016. (KMS)

UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF MISSOURI
EASTERN DIVISION
SECURITIES AND EXCHANGE
COMMISSION,
Plaintiff,
v.
BURTON DOUGLAS MORRISS, et al.,
Defendants, and
MORRISS HOLDINGS, LLC,
Relief Defendant.

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Case No. 4:12-cv-00080-CEJ

MEMORANDUM AND ORDER
This matter is before the Court on the First Application for Allowance and Partial
Payment of Holdback Amount Pertaining to Legal and Professional Services Rendered by the
Receiver, Retained Counsel, and Other Professionals (the “Application”) filed by Claire M.
Schenk, the court-appointed receiver for Acartha Group, LLC, MIC VII, LLC, Acartha
Technology Partners, L.P. and Gryphon Investments III, LLC, on December 22, 2015. The
Application covers legal and professional fees incurred during the period of January 17, 2012
through September 30, 2015 that remain unpaid pursuant to pursuant to an agreement with the
SEC to hold back twenty percent (20%) of the incurred legal and professional fees. The receiver
submitted the Application to the Securities and Exchange Commission (“SEC”) for review
before filing it with the Court, and the SEC does not object to the receiver’s request.
Additionally, the receiver posted the Application on the Receivership website for access by all
investors and other interested parties. No objection has been filed.

In the Application, the receiver seeks a total award of $253,468.71 for legal and
professional fees incurred by service providers, consisting of: (a) $219,403.95 for Thompson
Coburn LLP; (b) $12,598.55 for Segue Equity Group, LLC; (c) $17,915.78 for
CliftonLarsenAllen; (d) $566.43 for Pepper Hamilton LLP; and (e) $2,984.00 for FTL Capital.
The receiver’s request covers fifty percent (50%) of the accumulated holdback amount for the
period of January 17, 2012 through September 30, 2015. The request is made without prejudice
to the receiver’s right to seek an order authorizing payment of the remaining holdback amounts
upon further application to this Court.
The Court has reviewed the Application and supporting documentation and concludes
that the requested fees and costs of $253,468.71 are reasonable and appropriate.
Accordingly,
IT IS HEREBY ORDERED that the receiver’s Application (ECF No. 426) is granted.
IT IS FURTHER ORDERED that the following fees are allowed and the receiver is
authorized to make the following payments out of the assets of the receivership estate:
(1) $219,403.95 to Thompson Coburn LLP;
(2) $12,598.55 to Segue Equity Group, LLC;
(3) $17,915.78 to CliftonLarsenAllen;
(4) $566.43 to Pepper Hamilton LLP; and
(5) $2,984.00 to FTL Capital.

CAROL E. JACKSON
UNITED STATES DISTRICT JUDGE
Dated this 20th day of January, 2016.

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