Temecula Valley Bancorp Inc. (fka TMCVP)

[Enterprising Investor]

Fee Application Hearing set for 7/23/15 would be the result of the FDIC Settlement.

All of the filings required for the hearing were made on 6/04/15, which to me implied that the Effective Date was on or before this date and triggered fees at 20 percent of Net Recoveries. I kept searching the docket for a specific filing indicating that the settlement was finalized, but never found one. One may not have been required since the Tax Escrow Account was controlled by the Trustee and Rabobank, N.A. would release funds based on her instructions per the Order.

In the Declaration in Support of Final Fee Applications, the Trustee details:

I am currently holding $15,323,089.86 on behalf of the Estate as a direct result of the settlement, and I have a total amount of $15,548,400.77 on hand in the Estate. Excluding the amounts requested in the Fee Applications, I estimate that the Estate will be obligated to pay an additional approximately $1,200,000 in expenses of administration prior to closing the case.