[db7]

https://veritaglobal.net/medley/document/2110526240923000000000001

[db7]

Medley LLC Liquidating Trust v. Eversheds Sutherland (US) LLP
Adversary Proceeding
Lead BK case is: 1:21-bk-10526

Delaware Bankruptcy Court
Chapter 11
Judge: Karen B Owens
Case #: 1:23-ap-50121
Nature of Suit 12 Bankruptcy - Recovery of money/property - §547 preference
13 Bankruptcy - Recovery of money/property - §548 fraudulent transfer
Case Filed: Mar 03, 2023
Docket
Parties (2)
Docket last updated: 09/13/2024 1:05 PM EDT
Friday, September 13, 2024
17 court VAN-416 Order Assigning Adversary Proceeding to Mediation Fri 09/13 12:48 PM
Order Assigning Adversary Proceeding to Mediation and Setting Mediation Deadlines. Hon. Christopher S Sontchi Related [+] is Appointed as the Mediator in this Adversary Proceeding. Mediation Report due by 12/10/2024. Signed on 9/13/2024. (KAR)

[db7]

23-50121-KBO Medley LLC Liquidating Trust et al v. Eversheds Sutherland (US) LLP et al
Case type: ap Related bankruptcy: 21-10526-KBO Judge: Karen B. Owens
Date filed: 03/03/2023 Date of last filing: 09/10/2024

"Full docket text for document 14:
Stipulation Regarding Appointment of Mediator Hon. Christopher S. Sontchi (Ret.) of Sontchi LLC Between Plaintiff, Medley LLC Liquidating Trust and Defendant, Eversheds Sutherland (US) LLP. Filed by Medley LLC Liquidating Trust. (Rizvi, Sameen)"

[Enterprising Investor]

Order Granting Medley LLC Liquidating Trust's Motion Pursuant to 11 U.S.C. § 105(a) and Federal Rule of Bankruptcy Procedure 9019 to Approve Settlement with Certain Insurance Companies (9/03/24)

https://www.veritaglobal.net/medley/document/2110526240903000000000001

Source: Verita Global [Docket 715]

[db7]

"CERTIFICATE OF NO OBJECTION REGARDING MEDLEY LLC
LIQUIDATING TRUST’S MOTION PURSUANT TO 11 U.S.C. § 105(a) AND
FEDERAL RULE OF BANKRUPTCY PROCEDURE 9019 TO APPROVE
SETTLEMENT WITH CERTAIN INSURANCE COMPANIES"


https://veritaglobal.net/medley/document/2110526240820000000000001

[db7]

“ The Settlement Agreement would bring $400,000 into the Liquidating Trust in the near term and streamline the Liquidating Trust’s remaining claims against Allianz in the Arbitration, thereby increasing the Liquidating Trust’s chances of success.
16”

[Enterprising Investor]

Medley LLC Liquidating Trust's Motion Pursuant to 11 U.S.C. § 105(a) and Federal Rule of Bankruptcy Procedure 9019 to Approve Settlement with Certain Insurance Companies (8/05/24)

Hearing scheduled for 9/27/24 at 9:30 AM at US Bankruptcy Court, 824 Market St., 6th Fl., Courtroom #3, Wilmington, Delaware.

Objections due by 8/19/24

Source: Verita Global [Docket 712]

[db7]

https://veritaglobal.net/medley/document/2110526240718000000000001

[db7]

thanks EI, so if my prior post was incorrect in 'no monies to us' statement i apologize.. while i was aware of the mediation, i possibly misread/misunderstood what the finding i posted earlier meant(?)

[Enterprising Investor]

Medley LLC Liquidating Trust v. RSM US LLP 23-50138

Amended Order Assigning Adversary Proceeding to Mediation and Setting Mediation Deadlines. Ian Connor Bifferato is Appointed as the Mediator in this Adversary Proceeding. Mediator Certificate of Completion due date: 8/12/2024 (5/13/24)

Source: KCC [Docket 19]

Most likely resolved through mediation.

[db7]

v. RSM, no monies for us: "STIPULATION OF VOLUNTARY DISMISSAL
IT IS HEREBY STIPULATED AND AGREED by and between Plaintiff Medley LLC
Liquidating Trust and Defendant RSM US LLP, by and through their respective counsel, that the
above-captioned action is voluntarily dismissed with prejudice and without costs or fees to any
party pursuant to Federal Rule of Civil Procedure 41(a)(1)(A)(ii), which is incorporated by
reference into Rule 7041 of the Federal Rules of Bankruptcy Procedure. "

[db7]

https://veritaglobal.net/medley/document/2110526240701000000000001

[db7]

"Kurtzman Carson Consultants, LLC (KCC) has rebranded as Verita Global. All existing KCC URLs and email addresses will be automatically redirected. KCC will remain as a legal entity as we make this transition."

new url for Case Home:
https://veritaglobal.net/medley

[db7]

https://www.pacermonitor.com/public/case/48043929/Medley_LLC_Liquidating_Trust_v_RSM_US_LLP


Monday, May 13, 2024
19 court VAN-416a Order Assigning Adversary Proceeding to Mediation (Opt In Cert LR 9019-5j) Mon 05/13 12:47 PM
Amended Order Assigning Adversary Proceeding to Mediation and Setting Mediation Deadlines. Ian Connor Bifferato is Appointed as the Mediator in this Adversary Proceeding. Mediator Certificate of Completion due date: 8/12/2024. Signed on 5/13/2024. (KAR)

[db7]

https://www.kccllc.net/medley/document/2110526240419000000000001

[db7]

23-50121-KBO Medley LLC Liquidating Trust et al v. Eversheds Sutherland (US) LLP et al.. Is 'this' case different than the Evershed's settlement agreement from last October?

[db7]

23-50138-KBO Medley LLC Liquidating Trust v. RSM US LLP.. last document filed was that the appointed mediator had a potential conflict of interest; assuming we're waiting on a new one

this is try to get back ~$300k from RSM of invoices paid after they should have been(?)

[db7]

"Eversheds agrees to make a formal written demand against the
Debtor’s insurers on or before October 20, 2023. In the event that
demand does not lead to a resolution between Eversheds and the
Debtor’s insurers, Eversheds agrees it will file a lawsuit to collect
from the Debtor’s insurers on or before March 29, 2024. "

Of interest(?), I cannot locate any litigation involving Eversheds on Pacer.........

[db7]

https://www.kccllc.net/medley/document/2110526240405000000000001

[db7]

https://www.kccllc.net/medley/document/2110526240404000000000001

[db7]

https://www.kccllc.net/medley/document/2110526240327000000000001 let's hope they're not too limited:

"
Entry of both the Protective Order and the Production Order is necessary to
allow the Liquidating Trust to comply with the subpoena in a cost-efficient manner, in order to
preserve the Liquidating Trust’s extremely limited financial resources
"

[db7]

https://www.kccllc.net/medley/document/2110526240322000000000001

[db7]

last doc i see regarding this is: https://www.kccllc.net/medley/document/2110526230727000000000001

[db7]

assuming this is related to: "Liquidating Trust’s Request for Documents and Information" (???)

[db7]

i 'thought' everything was behind us with Eversheds(?)

[db7]

ugh, it 'is' more Eversheds: Court Docket: #0695

Document Name: Notice of Service of William E. Chipman, Jr. re: Defendant's Initial Disclosures Pursuant to Fed. R. Civ. P. 26(a)(1) and Fed. R. Bankr. P. 7026 (Filed by Eversheds Sutherland (US) LLP)

[db7]

sooo... Allianz Tower update 'or' Eversheds crediting monies... must be the former or why bring in lawyer... excited to hear the outcome.. fingers crossed!

[db7]

april 3rd omnibus hearing; https://www.kccllc.net/medley/document/2110526240312000000000001

[db7]

https://www.kccllc.net/medley/document/2110526240305000000000001

[db7]

https://www.kelleydrye.com/people/richard-gage

[db7]

https://www.kccllc.net/medley/document/2110526240304000000000001

[db7]

last one didn't tie-out either so I'm assuming my understanding that it should equals A + B + C is incorrect and obviously there must be disbursements made that don't need to appear on this sheet(?)

[db7]

something doesn't add up in this Post-confirmation report(?) Total Disbursements during period are listed as: $1,121,655.83 which is supposed to be made up of:
a (professional fees and expenses (bankruptcy)) + b (professional fees and expenses (non-bankruptcy)) + c (All professional fees and expenses)

in 'this' document we see:
a Paid Current Quarter at: $2,522,415 (I believe this is a mistake that was inadvertently copied from the last Post-confirmation filing and should actually be $0?)
b Paid Current Quarter at: $118,755
c Paid Current Quarter at: $0

So, 'if' I'm understanding this correctly the Total Disbursements during this period should be either:
$2,522,415 + $118,755 = $2,641,170
OR
$118,755

So how/why do we see: $1,121,655.83

What am I missing here?

[db7]

Post-Confirmation Report for Medley LLC for the Quarter Ending December 31, 2023 (Filed by Liquidating Trust)

well lawyers all made whole on due amounts:

https://www.kccllc.net/medley/document/2110526240118000000000001

[db7]

https://www.kccllc.net/medley/document/2110526240102000000000001

[db7]

https://www.kccllc.net/medley/document/2110526210917000000000001


Proposed Chapter 11
Recovery Estimate $
Low High
$ 3,066,023 $ 4,344,065


in another ~6months or so I guess we'll see how close these projections were...............

[db7]

skimming this old document, wonder how much of this still exists or came to pass:
https://www.kccllc.net/medley/document/2110526210706000000000003

"

F. Retention Plan
By and through the Combined Disclosure Statement and Plan, the Debtor’s interest in
proceeds from the Remaining Company Contracts will be assigned to the Liquidating Trust and
the Debtor expects that the net proceeds of the Remaining Company Contracts will provide a
significant recovery to Allowed Claims. Specifically, and as more fully set in the liquidation
analysis attached hereto as Exhibit A, the Debtor expects that expects that, for the period ending
ending March 31, 2022, the Remaining Company Contracts will generate approximately
$1,725,000 of profit, which will be upstreamed to the Debtor. Such revenue is,, subject to the
continuation of the Remaining Company Contracts, the most financially significant of which is an
investment advisory agreement between Sierra and SIC Advisors LLC, which the Debtor expects
to continue through at least December 31, 2021, subject to further extension.13
As of July 6, 2021,
13 The Debtor anticipates that Sierra’s contract will terminate on December 31, 2021, subject to further extensions to
permit Sierra Income Corporation to extend the termination date until February 28, 2022. As set forth in the Sierra
IMA and required by the SEC of all IMAs of this type, the agreement may be terminated at any time, without the
Case 21-10526-KBO Doc 244 Filed 07/06/21 Page 54 of 82
-49-
12957744.v3
the Debtor’s subsidiaries are also currently holding approximately $3,741,806 on account of the
Remaining Company Contracts, which they are entitled to upstream to the Debtor upon completion
of the Remaining Company Contracts. Absent continuation, of the Remaining Company
Contracts, the Debtor expects that the clients will seek the return of some or all of those funds.
The Debtor therefore expects that the net proceeds of the Remaining Company Contracts will
provide a significant recovery for Allowed Claims.

"

[Enterprising Investor]

Order Granting Medley LLC Liquidating Trust’s Motion Pursuant Federal Rule 2019 to Approve Settlement with Eversheds Sutherland (US) LLP (11/09/23)

No objection filed. As a result, the hearing scheduled for 11/14/23 is no longer necessary.

http://www.kccllc.net/medley/document/2110526231109000000000002

[db7]

We're due the Post Confirmation Report for period ending 9/30 'soon'... The more I go through the last report and all events that have transpired, I think our recovery (or lack thereof) here is purely based on the results of the Allianz Tower outcome.

$0 to $1 possible(?)

Trading was around $0.50 on both pfd's if I recall correctly prior to trading halts...

[db7]

.. and now we know what the 11/14 hearing was/is about......

[db7]

"Eversheds agrees to make a formal written demand against the
Debtor’s insurers on or before October 20, 2023. In the event that
demand does not lead to a resolution between Eversheds and the
Debtor’s insurers, Eversheds agrees it will file a lawsuit to collect
from the Debtor’s insurers on or before March 29, 2024. "


"
Notwithstanding the Credit set forth above, to the extent the Liquidating Trust is closed prior to the Insurance Lawsuit being finally resolved, the Liquidating Trust shall pay the Revised Final Fee Award to Eversheds, and the Credit will be forfeited by the Liquidating Trust.
"

[db7]

excellent: "The Settlement Agreement reduces Eversheds’ Final Fee Award (as defined
below) from $2,080,055.19 to $436,673.28, and Eversheds shall seek payment of its legal fees
from the Debtor’s insurance companies. To the extent Eversheds receives payment for its legal
fees from any insurance company, the Liquidating Trust will receive a dollar-for-dollar credit
against the $436,673.28 for every dollar Eversheds recovers. "

https://www.kccllc.net/medley/document/2110526231026000000000002

[db7]

curious what the matters scheduled are for this 11/14 omnibus hearing or if it's just a placeholder that will be rescheduled:

https://www.kccllc.net/medley/document/2110526231026000000000001

ORDER SCHEDULING OMNIBUS HEARING DATE
Pursuant to Del. Bankr. L.R. 2002-1(a), the Court has scheduled the following omnibus
hearing date in the above-captioned case:
Date & Time Location
November 14, 2023 at 3:00 p.m. (ET) U.S. Bankruptcy Court for the District of Delaware
824 North Market Street, 6th Floor, Courtroom No. 3
Wilmington, Delaware 19801

[db7]

was hoping so; fingers crossed it's 'quick'