QSGI, Inc.(fka QSGI)

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IBM Case Atty Approved

UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF FLORIDA
WEST PALM BEACH DIVISION
In re: Chapter 11
QSGI, INC. Case No.: 09-23658-EPK
QSGI-CCSI, INC. Case No.: 09-23659-EPK
QUAL TECH SERVICES GROUP, INC. Case No.: 09-23660-EPK
(Jointly Administered)
Debtor.
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ORDER GRANTING DEBTOR-IN-POSSESSIONS’ APPLICATION FOR
EMPLOYMENT OF ACCOUNTANT NUNC PRO TUNC TO OCTOBER 29, 2010
THIS MATTER came before the Court on Thursday, December 2, 2010 at 1:30 p.m. in
West Palm Beach, Florida, upon Debtors-in-Possession QSGI, Inc., QSGI-CCSI, Inc. and Qual
Tech Services Group, Inc.’s (collectively, the “Debtors”) Application for Employment of
Accountant Nunc Pro Tunc to October 29, 2010 (D.E. # 344). The Court having reviewed the
Application, and upon the affidavit of Louis V. Esposito, CPA, of Morison Cogen, LLP, and
upon the representations that Louis V. Esposito, CPA, is duly qualified, holds no interest adverse
to the estate in the matters upon which they are engaged upon the waiver of their pre-petition
ORDERED in the Southern District of Florida on December 06, 2010.
Erik P. Kimball, Judge
United States Bankruptcy Court
_____________________________________________________________________________
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claim and the waiver of preferential payments made by Debtors to Louis V. Esposito, CPA and
Morison Cogen, LLP, and that Louis V. Esposito, CPA and Morison Cogen, LLP, are
disinterested persons as required by 11 U.S.C. §327(a), and have disclosed any connections with
the parties as set forth in Bankruptcy Rule 2014, and that their employment is necessary and
would be in the best interest of the estate, it is :
ORDERED and ADJUDGED that:
1. The Debtors’ Application is GRANTED.
2. The Debtors are hereby authorized to retain the services of Louis V. Esposito,
CPA and Morison Cogen LLP (collectively the “Accountant”) as an accountant nun pro tunc to
October 29, 2010.
3. The Accountant’s prepetition claim in the amount of $57,320.00 (Proof of Claim
No.: 63) is hereby waived by the Accountant.
4. The Accountant shall provide the Debtors with a $20,000.00 credit to be applied
to the total amount owed to the Accountant for any and all services performed by the Accountant
with regard to the Debtors’ case subject to the filing and approval of a fee application on behalf
of the Accountant. The aforementioned credit represents three (3) preferential payments made
by the Debtors to the Accountant on April 15, 2009, May 26, 2009 and June 29, 2009 totaling
$20,000.00.
5. The Accountant shall transfer the amount of $25,000.00 to the Trust Account of
Michael A. Kaufman, P.A. within seven (7) days of the date of this Order. The amount of
$25,000.00 represents a post-petition transfer made from the Debtors’ DIP account on September
15, 2010 to the Accountant for post-petition accounting services. The total amount of the
transfer will be earmarked for the payment of the Accountant’s fees for professional services.
The earmarked funds shall remain in the Trust Account of Michael A. Kaufman, P.A. until such
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time as the Accountant’s fee application is filed and approved by the Bankruptcy Court.
6. The transfer of the $25,000.00 from the Accountant to the Trust Account of
Michael A. Kaufman, P.A., shall represent a waiver by the Accountant to the $25,000.00.
7. Louis V. Esposito, CPA and Morison Cogen, LLP shall be compensated for its
services upon the filing of the appropriate fee application and approval of same by this Court.
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Submitted by:
Michael A. Kaufman, P.A.
Proposed Counsel for Debtors
1655 Palm Beach Lakes Boulevard, Suite 1012
West Palm Beach, Florida 33401
561-478-2878 – Telephone
561-584-5555- Facsimile
The Movant is directed to serve copies of this Order upon all interested parties and to file a
certificate of service with the Court.