Securities and Exchange Commission v. Byers et al

Filing 1074

OPINION AND ORDER: re: 1020 MOTION to Amend/Correct 981 Order on Motion to Approve or for Clarification of Court Order filed by Capital Bank N.A., Avenue Bank, 1048 MOTION for Compensation - Application of FTI Consulting , Inc., Solely in its Capacity as Secured Lender Trustee of the Dewey & LeBoeuf Secured Lender Trust Established Under The Second Amended Plan of Liquidation of Dewey & LeBoeuf LLP, as Assigne filed by FTI Consulting, Inc., Solely in its Capacity a s Liquidating Trustee of the Dewey & LeBoeuf Secured Lender Trust. To summarize, IT IS HEREBY ORDERED AS FOLLOWS:1. FTI's application for the fees and expenses of $1,256,886.68 and for payment of holdbacks of $3,446,019.10 is DENIED in all respects; 2. Arent Fox's application for payment of holdbacks of $33,216.50 is DENIED in its entirety;3. Badger's application for fees of $160,000 is DENIED in its entirety;4. Deloitte's application for fees and expenses for the period January 1, 2013 through September 30, 2014 of $55,720 is GRANTED in full and its request for payment of holdbacks of $735,245 is DENIED in its entirety; 5. The Fifth Interim Joint Application of the Receiver and Freshfields for the period October 1, 2013 through August 31, 2014 is GRANTED to the extent of $585,087.39 in fees and $26,042.52 in expenses and their request for the payment of holdbacks is GRANTED to the extent of $626,775.02; 6. The Receiver i s authorized to pay the above approved amounts forthwith; and 7. The Receiver shall submit a proposed order authorizing a distribution of an amount calculated by deducting from the $21.3 million in cash on hand (1) the above-approved awards, (2) the amount to be paid to Regions Bank as set forth inmy opinion dated December 22, 2014; and (3) a reserve of $2.2 million to be held for further administrative expenses and pending proceedings and developments. SO ORDERED. (Signed by Judge Denny Chin on 12/23/2014) (ama)