Securities and Exchange Commission v. Path America, LLC et al

Filing 663

TWELFTH ORDER REGARDING FEE APPLICATIONS signed by Judge James L. Robart. The Court GRANTS the fee applications (Dkt. ## 652 , 653 , 654 , 655 ) and APPROVES on an interim basis the application amounts (See Order) for the period of July 1, 2018, through September 30, 2018. (SWT)

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UNITED STATES DISTRICT COURT
WESTERN DISTRICT OF WASHINGTON
AT SEATTLE

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SECURITIES AND EXCHANGE
COMMISSION,

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Plaintiff,
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TWELFTH ORDER REGARDING
FEE APPLICATIONS

v.
PATH AMERICA, LLC, et al.,

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CASE NO. C15-1350JLR

Defendants and
POTALA SHORELINE, LLC, et al.,

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Relief Defendants.

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Before the court are four quarterly fee applications: (1) the twelfth interim fee
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application of Receiver Michael A. Grassmueck (“the Receiver”) for $5,030.00 in fees
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and $524.10 in costs (Dkt. # 652); (2) the twelfth interim fee application of the
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Receiver’s general counsel, Allen Matkins Leck Gamble Mallory & Natsis, LLP (“Allen
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Matkins”), for $125,094.60 in fees and $2,114.96 in costs (Dkt. # 655); (3) the twelfth
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ORDER - 1

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interim fee application of Financial Forensics, the Receiver’s forensic accountant, for

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$3,807.00 in fees (Dkt. # 653); and (4) the ninth interim fee application of Peterson

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Sullivan LLP, tax accountants for the Receiver, for $15,132.25 in fees and $816.16 in

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costs (Dkt. # 654). As described below, the court GRANTS the fee applications of the

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Receiver, Allen Matkins, Financial Forensics, and Peterson Sullivan (Dkt. ## 652-55).

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The Receiver’s counsel filed all of the foregoing motions on November 21, 2018,

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and properly noted them for the court’s consideration on December 7, 2018. (See id.)

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Any opposition to the motions was due no later than Monday, December 3, 2018. See

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Local Rules W.D. Wash. LCR 7(d)(3) (“Any opposition papers shall be filed and served

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no later than the Monday before the noting date.”). No party filed an opposition to any of

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the motions. (See generally Dkt.)

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The court finds that (1) the fees and costs requested in each of the fee applications

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listed above are reasonable and necessary, (2) the notice of the fee applications was

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appropriate, (3) the fee applications are made in accordance with the Order Appointing

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Receiver (see OAR (Dkt. # 88) ¶¶ 55-59), and (4) the services provided were of

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substantial benefit to the Receivership Estate. Each of the foregoing applicants seeks a

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distribution of only 80% of the approved fees and costs at this time. (See id. ¶ 58

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(“Quarterly Fee Applications may be subject to a holdback in the amount of 20% of the

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amount of fees and expenses for each application filed with the Court.”); see also Dkt.

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# 652 at 2; Dkt. # 653 at 4; Dkt. # 654 at 4; Dkt. # 655 at 2.)

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ORDER - 2

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Accordingly, the court GRANTS the fee applications (Dkt. ## 652-55) and

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APPROVES on an interim basis the following application amounts for the period of July

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1, 2018, through September 30, 2018:

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Applicant:

Fees:

Costs:

Total Allowed:

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$5,030.00

$524.10

$5,554.10

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Receiver Michael A.
Grassmueck
Allen Matkins

$125,094.60

$2,114.96

$127,209.56

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Financial Forensics

$3,807.00

$00.00

$3,807.00

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Peterson Sullivan

$15,132.25

$816.16

$15,948.41

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Finally, the court AUTHORIZES the Receiver to disburse the following
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percentages of the foregoing approved fees and costs at this time:
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(1)

The court AUTHORIZES the Receiver to disburse $4,443.28 to the

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Receiver, which is 80% of the approved fees and costs;
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(2)

The court AUTHORIZES the Receiver to disburse $101,767.65 to Allen

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Matkins, which is 80% of the approved fees and costs;
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(3)

The court AUTHORIZES the Receiver to disburse $3,045.60 to Financial

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Forensics, which is 80% of the approved fees and costs; and
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ORDER - 3

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(4)

The court AUTHORIZES the Receiver to disburse $12,758.73 to Peterson

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Sullivan, which is 80% of the approved fees and costs.

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Dated this 11th day of December, 2018.

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A

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JAMES L. ROBART
United States District Judge

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ORDER - 4