SulmeyerKupetz PC May Fee Statement analysis.
Teleconference with counsel regarding possible OCC Plan on 5/07/10.
Teleconference with counsel regarding term sheet for alternate plan on 5/10/10.
[The next one is my personal favorite fee entry. It only cost $39.50 for the work product. A very good investment.]
Review objections to disclosure statement filed by various equity holders and request for appointment of equity committee on 5/11/10.
Review and analyze draft of OCC Plan plus a teleconference in connection with a competing plan on 5/11/10.
Draft e-mail to OCC regarding a proposal from prospective investor on 5/12/10.
A whole lot of activity around proposed plan term sheet from potential investors. Preparation for meeting with intersted third party regarding OCC Plan on 5/13/10.
Teleconference with counsel regarding support for OCC Plan on 5/18/10.
[Below is my second favorite.]
Analyze and develop strategy in connection with OCC Plan and interest expressed by various parties on 5/19/10.
Teleconference with counsel for prospective investor concerning OCC Plan on 5/27/10.
SK spent a great deal of time on Plan and Disclosure Statement tasks. Fees for this segment of work was $47,966.50. Total billings for May was $110,092.
Source: PACER (Docket 1518)
Why is the retention of SK so important in my view. The OCC can only present one plan. I do not think this would have happened if SK was replaced.
The OEC could still end up with one of the quality rejected parties. The more the merrier, except, of course, in the eyes of present management!
If you aren't an Enterprising Investor, become one—you'll love making money like Benjamin Graham.
