Replies to post #225 on TMST, Inc., 8% Senior Notes (TMA.GB)

[Enterprising Investor]

Emergency Motion for Order Authorizing Committee to File Under Seal a Limited Objection to Trustees Application for Order Authorizing Employment of Special Litigation Counsel and Limited Modification of Retention Order of Counsel to Trustee Filed by Official Committee of Unsecured Creditors (12/30/14)

Subject to further discussions with the Trustee, the Committee intends to file a limited objection to the Application, solely relating to the economics of the proposed retention of Special Litigation Counsel and the economics of the modification of the terms of the retention of Counsel to the Trustee, both of which are only disclosed in the sealed document (the “Committee’s Objection”). Accordingly, the Committee believes that the Committee’s Objection must be filed under seal, and doing so is consistent with the Court’s findings in the Order Sealing Trustee’s Application.

http://dm.epiq11.com/TMI/Document/GetDocument/2551642

Source: Epiq Systems [Docket 2135]

[Enterprising Investor]

Order Approving in Part Application to Employ (3/27/15)

Based on the foregoing, the Court concludes that the Trustee has carried his burden to demonstrate that the retention of Susman Godfrey and Shapiro Sher to act as co-counsel to the Trustee in the Adversary Proceeding, on the proposed terms, is appropriate, with one exception.

As to the Committee points out in its objection the proposed retention terms contemplate creation of a lien in favor of Susman Godfrey. The Committee objects to the lien. Such a lien is not, in this Court’s experience, customary. There has been no evidence presented nor explanation given as to why it is reasonable in these circumstances. The Court will not approve the fee structure proposed to the extent that it creates a lien in favor of counsel. The Committee’s objection is sustained to the extent of its opposition to the lien, and overruled as to the remainder of the objection. The Trustee’s application otherwise is APPROVED.

http://dm.epiq11.com/TMI/Document/GetDocument/2574893

Source: Epiq Systems [Docket 2191]

[Enterprising Investor]

Order Regarding Sealing/Redaction of Record of Proceedings on Trustees Motion to Employ Special Litigation Counsel (3/27/15)

Accordingly, on or before April 15, 2015, the Trustee and any other party who desires to keep the record of the hearing sealed shall provide the Court with a specification – by page and line numbers - of each portion of the transcript that they seek to have maintained under seal and a statement of reasons why sealing is legally proper for each such portion. The statement should not, itself, set forth the putatively sealed information because the statement shall be placed on the public record to provide access to persons who may object to the sealing.

http://dm.epiq11.com/TMI/Document/GetDocument/2574906

Source: Epiq Systems [Docket 2192]