Securities and Exchange Commission v. Biltmore Financial Group, Inc. et al

Filing 154

CONSENT ORDER Granting Final Application of Hutchens Senter Kellam & Pettit, P.A. for Compensation and Reimbursement of Expenses as Counsel for the Receiver. Signed by District Judge Richard Voorhees on 2/25/2014. (cbb) (Main Document 154 replaced on 2/25/2014) (cbb). Replaced image with signed copy of Order. Regenerated NEF.

UNITED STATES DISTRICT COURT
FOR THE WESTERN DISTRICT OF NORTH CAROLINA
STATESVILLE DIVISION
SECURITIES AND EXCHANGE COMMISSION,
Plaintiff,
v.
BILTMORE FINANCIAL GROUP, INC.,
and J.V. HUFFMAN, JR.,
Defendants.

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Case No.:
08-CV-00136-RLV-CH

CONSENT ORDER GRANTING FINAL APPLICATION OF HUTCHENS SENTER KELLAM
& PETTIT, P.A. FOR COMPENSATION AND REIMBURSEMENT OF EXPENSES AS
COUNSEL FOR THE RECEIVER
THIS MATTER coming before the Honorable Richard L. Voorhees,
United

States

Application

District
of

Court

Receiver’s

Judge,

upon

Counsel

the

for

Receiver’s
Compensation

Final
and

Reimbursement of Expenses (hereinafter “Application”) (Doc. 144)
and the Response (hereinafter “Response”) thereto by the Securities
and Exchange Commission (hereinafter “SEC”) (Doc. 150).
It appearing to the Court that the Receiver had requested in
the Application fees and expenses as follows: 1) payment to Rogers
Townsend & Thomas, P.C. (hereinafter “RTT”) for services rendered
on behalf of the Receivership Estate between November 29, 2010 and
March 22, 2012 for fees in the sum of $33,263.00 and for expenses
in the amount of $744.50 for the same time period; 2) payment to
Hutchens, Senter, Kellam & Pettit, P.A. (hereinafter “HSKP”) for
services

rendered

on

behalf

of

the

Receivership

Estate

between

January 19, 2012 and November 14, 2013 for fees in the sum of

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$107,221.00 and for expenses in the amount of $14,132.12 for the
same time period; and 3) HSKP sought approval for $5,040.00 in
anticipated legal fees and $957.52 in anticipated expenses through
the conclusion of the Receiver’s duties.
It further appearing to the Court, based on the signatures
appearing herein from Counsel for the Receiver and for the SEC,
that the parties have resolved this matter and request the Court to
approve requests for compensation and reimbursement of expenses by
Counsel for the Receiver as follows:
1.

Payment to RTT for fees in the sum of $28,273.55 in

compensation for services rendered on behalf of the Receivership
Estate

between

November

29,

2010

and

March

22,

2012,

and

for

expenses in the amount of $744.50;
2.

Payment to HSKP for fees in the sum of $91,137.85 in

compensation for services rendered on behalf of the Receivership
Estate between January 19, 2012 and November 14, 2013, and for
expenses in the amount of $14,132.12; and
3.

As to fees and expenses incurred by the Receiver since

filing the Application for Final Fees and Expenses, the Receiver
should timely complete the work and forward an invoice for actual
services rendered and fees incurred and withhold such anticipated
amounts

to

pay

the

fees

and

expenses

from

the

distribution

to

claimants.
NOW, THEREFORE, IT IS ORDERED, ADJUDGED AND DECREED that the
Court approves the Agreement as set forth above and approves the

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fees and expenses; and that the Receiver be and he herewith is
authorized to pay the same as shown in paragraph 1 and 2 above.

Signed:

February 25, 2014

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