Sunday, May 29, 2022 3:51:33 PM
The legal counsel's memorandum of May 13th (doc 1022) argues that 22.5% would be a suitable fee instead of the 33% initially sought; it is furthermore stated that this would give rise to a distribution of 29.98 USD per ADS before expenses.
Incidentally, calculating backwards from this distributed amount of 232.5 MUSD after the 22.5% cut gives a number of ADS entitled to take part of the distribution of ((232.5 MUSD / 29.98 USD = ) 7.755.170 ADS, quite close to the number Z of my earlier posts.
Now, in the hearing of April 14th, the judge stated that 17.5% would be the upper limit where too much would be attributed to the legal council as fees. So we will end up somewhere between 17.5% and 22.5%.
It is possibly a coincidence that the round number 20% lies exactly at the mid-point of this interval, but on the other hand, one should never underestimate the attraction of round numbers.
Assuming that the judge would draw the line at 20%, the distribution would increase by almost one dollar compared to the 22.5% scenario; this takes us to almost 31 USD per ADS before fees and more than 30 USD net of fees and expenses.
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