US Securities and Exchange Commission v. Davis et al
ORDER Approving Third Application For Compensation to Middleswarth Bowers & Company, LLC, Accountants For the Receiver re 147 Miscellaneous Filing. Signed by Senior Judge Graham Mullen on 11/13/2017. (jaw)
IN THE UNITED STATES DISTRICT COURT
FOR THE WESTERN DISTRICT OF NORTH CAROLINA
CASE NO. 3:16-CV-285
SECURITIES AND EXCHANGE
RICHARD W. DAVIS, JR.,
ORDER APPROVING THIRD
APPLICATION FOR COMPENSATION
TO MIDDLESWARTH BOWERS &
COMPNAY, LLC, ACCOUNTANTS
FOR THE RECEIVER
DCG REAL ASSETS, LLC, et al.,
This matter came before the Court upon the Third Application for Compensation to
Middleswarth Bowers & Company, LLC, Accountants for the Receiver filed on October 31, 2017
(Doc. No. 147) (the “Fee Application”) by A. Cotten Wright, as the duly-appointed receiver in the
above-captioned action (the “Receiver”), through counsel. The Court finds and concludes as
Notice of the Fee Application was served upon the parties hereto as required by law. No
party in interest filed a timely objection to the Fee Application.
It appears that the Fee Application conforms to the Billing Instructions for Receivers in
Civil Actions Commenced by the U.S. Securities and Exchange Commission.
Middleswarth Bowers & Company, LLC has rendered valuable services to the Receiver
during this civil proceeding, for which it has received no compensation and the reasonable value
of services as yet uncompensated is at least $12,261.25.
Middleswarth Bowers & Company, LLC is also entitled to reimbursement of actual and
necessary expenses incurred in the administration of the receivership in the amount of $1.50.
The Orders appointing the Receiver limit the compensation and expense reimbursement
available to the Receiver’s professionals to thirty percent (30%) of any net recovery. The Receiver
has previously disbursed the maximum amount permitted for the Receiver’s professionals.
Therefore, the Court approves this Third Application for Compensation on the condition that any
payment by the Receiver of the compensation approved hereby shall be limited 30% of the total
net amount recovered by the Receiver over the course of this case prior to deducting administrative
IT IS, THEREFORE, ORDERED that
1. The Fee Application is APPROVED;
2. Middleswarth Bowers & Company, LLC is AWARDED professional fees in the
amount of $12,261.25 and reimbursement of expenses in the amount of $1.50; and
3. The Receiver is AUTHORIZED, upon the Receiver’s recovery of additional funds
and without further order by the Court, to compensate Middleswarth Bowers &
Company, LLC for any approved but unpaid fees and expenses in an amount not in
excess of 30% of such additional funds, such that at no time shall the total
compensation paid to the Receiver’s professionals over the course of this case
exceed 30% of the total net amount recovered by the Receiver over the course of
this case prior to deducting administrative expenses.
Signed: November 13, 2017
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