case 9:08-bk-11457-pc doc 4191 ... - omni agent solutions
TRANSCRIPT
1
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
Vernon Calder Berkeley Research Group, LLC 201 South Main, Suite 450 Salt Lake City, UT 84111 Telephone No. (801) 321-0053 Facsimile No. (385) 218-5914
Accountants for the Chapter 11 Trustee
UNITED STATES BANKRUPTCY COURT
CENTRAL DISTRICT OF CALIFORNIA
NORTHERN DIVISION
In re: ESTATE FINANCIAL, INC., Debtor. _______________________________
)))))))))))))))))))))
Case No.: 9:08-bk-11457 PC Chapter 11 TENTH INTERIM AND FINAL APPLICATION OF BERKELEY RESEARCH GROUP, LLC FOR COMPENSATION AND REIMBURSEMENT OF EXPENSES AS ACCOUNTANTS TO THOMAS P. JEREMIASSEN, CHAPTER 11 TRUSTEE; DECLARATION OF VERNON CALDER; DECLARATION OF THOMAS P. JEREMIASSEN, TRUSTEE, IN SUPPORT THEREOF Date: February 15, 2017 Time: 10:00 a.m. Place: Courtroom 201 1415 State Street Santa Barbara, CA 93101Judge: Honorable Peter Carroll
TO THE HONORABLE PETER CARROLL, UNITED STATES BANKRUPTCY JUDGE;
EFI CREDITORS’ COMMITTEE; AND THE OFFICE OF THE UNITED STATES
TRUSTEE:
Berkeley Research Group, LLC (“BRG” or the “Applicant”)
hereby applies for compensation and reimbursement of expenses as
accountants for Thomas P. Jeremiassen, Chapter 11 Trustee (the
001
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 1 of 85
2
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
“Trustee”) of Estate Financial, Inc. (“EFI” or the “Debtor”),
and respectfully represent:
I.
INTRODUCTION
BRG respectfully applies under 11 U.S.C. §§ 330, 331,
503(b), and 507(a)(2) and Local Bankruptcy Rule 2016-1, for
final allowance and payment of compensation for accounting and
financial services rendered and reimbursement of expenses
incurred from March 1, 2011 through November 20, 2016 (the
“Application”).
1. BRG was employed as the successor accountants for the
Trustee effective March 1, 2011, pursuant to court order entered
on May 31, 2011.
2. BRG previously requested compensation in this case
through its first interim application for the period March 1,
2011, through April 30, 2011 ("First Interim Period"). BRG
incurred total fees in the amount of $83,216.00 representing
325.60 hours of services to the Estate for which it sought full
interim approval and payment. BRG did not advance expenses for
the First Interim Period related to its services rendered.
3. Pursuant to the Order Granting the Various Interim
Applications of Professionals for Compensation and Reimbursement
of Expenses, BRG was allowed $83,216.00 in fees and $0 in
expenses for a total of $83,216.00. As of the date of this
application, BRG has been paid a total of $83,216.00.
4. BRG previously requested compensation in this case
through its second interim application for the period May 1,
2011, through November 30, 2011 ("Second Interim Period"). BRG
002
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 2 of 85
3
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
incurred total fees in the amount of $210,516.50 representing
869.50 hours of services to the Estate for which it sought full
interim approval and payment. BRG also advanced expenses for
the Second Interim Period related to its services in the amount
of $205.63 for which it sought full interim approval and
reimbursement. The total for both fees and expenses was
$210,722.13.
5. Pursuant to the Order Granting the Various Interim
Applications of Professionals for Compensation and Reimbursement
of Expenses, BRG was allowed $210,516.50 in fees and $205.63 in
expenses for a total of $210,722.13. As of the date of this
application, BRG has been paid a total of $210,722.13.
6. BRG previously requested compensation in this case
through its third interim application for the period December 1,
2011, through May 31, 2012 ("Third Interim Period"). BRG
incurred total fees in the amount of $198,844.00 representing
771.20 hours of services to the Estate for which it sought full
interim approval and payment. BRG also advanced expenses for
the Third Interim Period related to its services in the amount
of $586.54 for which it sought full interim approval and
reimbursement. The total for both fees and expenses was
$199,430.54.
7. Pursuant to the Order Granting the Various Interim
Applications of Professionals for Compensation and Reimbursement
of Expenses, BRG was allowed $198,844.00 in fees and $586.54 in
expenses for a total of $199,430.54. As of the date of this
application, BRG has been paid a total of $199,430.54.
003
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 3 of 85
4
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
8. BRG has previously requested compensation in this case
through its fourth interim application for the period June 1,
2012, through November 30, 2012 ("Fourth Interim Period"). BRG
incurred total fees in the amount of $150,106.50 representing
587.80 hours of services to the Estate for which it sought full
interim approval and payment. BRG also advanced expenses for
the Fourth Interim Period related to its services in the amount
of $102.40 for which it sought full interim approval and
reimbursement. The total for both fees and expenses was
$150,208.90.
9. Pursuant to the Order Granting the Various Interim and
Final Applications of Professionals for Compensation and
Reimbursement of Expenses dated February 14, 2013, BRG was
allowed $150,106.50 in fees and $102.40 in expenses for a total
of $150,208.90. As of the date of this application, BRG has
been paid a total of $150,208.90.
10. BRG previously requested compensation in this case
through its fifth interim application for the period December 1,
2012, through July 31, 2013 ("Fifth Interim Period"). BRG
incurred total fees in the amount of $208,464.20 representing
788.10 hours of services to the Estate for which it sought full
interim approval and payment. BRG also advanced expenses for
the Fifth Interim Period related to its services in the amount
of $333.70 for which it sought full interim approval and
reimbursement. The total for both fees and expenses was
$208,797.90.
11. Pursuant to the Order Granting the Various Interim and
Final Applications of Professionals for Compensation and
004
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 4 of 85
5
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
Reimbursement of Expenses dated September 16, 2013, BRG was
allowed $208,464.20 in fees and $333.70 in expenses for a total
of $208,797.90. As of the date of this application, BRG has
been paid a total of $208,797.90.
12. BRG previously requested compensation in this case
through its sixth interim application for the period August 1,
2013, through February 28, 2014 ("Sixth Interim Period"). BRG
incurred total fees in the amount of $108,054.00 representing
400.65 hours of services to the Estate for which it sought full
interim approval and payment. BRG also advanced expenses for
the Sixth Interim Period related to its services in the amount
of $365.67 for which it sought full interim approval and
reimbursement. The total for both fees and expenses was
$108,419.67.
13. Pursuant to the Order Granting the Various Interim and
Final Applications of Professionals for Compensation and
Reimbursement of Expenses dated June 13, 2014, BRG was allowed
$108,054.00 in fees and $365.67 in expenses for a total of
$108,419.67. As of the date of this application, BRG has been
paid a total of $108,419.67.
14. BRG previously requested compensation in this case
through its seventh interim application for the period March 1,
2014, through October 31, 2014 ("Seventh Interim Period"). BRG
incurred total fees in the amount of $126,859.00 representing
440.90 hours of services to the Estate for which it sought full
interim approval and payment. BRG also advanced expenses for
the Seventh Interim Period related to its services in the amount
of $562.21 for which it sought full interim approval and
005
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 5 of 85
6
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
reimbursement. The total for both fees and expenses was
$127,421.21.
13. Pursuant to the Order Granting the Various Interim and
Final Applications of Professionals for Compensation and
Reimbursement of Expenses dated December 18, 2014, BRG was
allowed $126,859.00 in fees and $562.21 in expenses for a total
of $127,421.21. As of the date of this application, BRG has
been paid a total of $127,421.21.
14. BRG previously requested compensation in this case
through its eighth interim application for the period November
1, 2014, through May 31, 2015 ("Eighth Interim Period"). BRG
incurred total fees in the amount of $104,153.50 representing
326.30 hours of services to the Estate for which it sought full
interim approval and payment. BRG also advanced expenses for the
Eighth Interim Period related to its services in the amount of
$2,835.09 for which it sought full interim approval and
reimbursement. The total for both fees and expenses was
$106,988.59.
15. Pursuant to a stipulation with the U.S. Trustee, BRG
agreed to be approved and paid on an interim basis fees equal to
80% of the requested fees and 100% of the requested
reimbursement of expenses incurred during the Eight Interim
Period, with BRG preserving all rights to seek approval and
payment of the remaining 20% of the requested fees in a
subsequent application. Pursuant to the Order Granting the
Various Interim and Final Applications of Professionals for
Compensation and Reimbursement of Expenses dated August 6, 2015,
BRG was allowed $83,322.80 in fees and $2,835.09 in expenses for
006
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 6 of 85
7
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
a total of $86,157.89. As of the date of this application, BRG
has been paid a total of $86,157.89.
16. BRG previously requested compensation in this case
through its ninth interim application for the period June 1,
2015, through December 31, 2015 ("Ninth Interim Period"). BRG
incurred total fees in the amount of $75,943.00 representing
289.60 hours of services to the Estate for which it sought full
interim approval and payment. BRG also advanced expenses for the
ninth interim period related to its services in the amount of
$831.92 for which it sought full interim approval and
reimbursement. The total for both fees and expenses was
$76,774.92.
17. Pursuant to the Order Granting the Various Interim and
Final Applications of Professionals for Compensation and
Reimbursement of Expenses dated March 14, 2016, BRG was allowed
$75,943.00 in fees and $831.92 in expenses for a total of
$76,774.92. As of the date of this application, BRG has been
paid a total of $76,774.92.
18. During the period covered by this Application, January
1, 2016 through November 20, 2016 (“Tenth Interim Period”), BRG
incurred total fees in the amount of $86,722.50 representing
267.70 hours of services to the Estate for which it seeks final
approval and payment. BRG also advanced expenses for the Tenth
and Final Reporting Period related to its services in the amount
of $299.79 for which it seeks final approval and reimbursement.
The total for both fees and expenses is $87,022.29.
The following table summarizes, for each interim period,
the amounts that BRG applied for, amounts that were previously
007
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 7 of 85
8
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
approved on an interim basis and paid to BRG, and amounts
currently owed to BRG:
Interim Applied For Previously Approved/Paid Owed
Period Fees Expenses Fees Costs Fees Costs
First $83,216.00 $0.00 $83,216.00 $0.00 $0.00 $0.00
Second 210,516.50 205.63 210,516.50 205.63 0.00 0.00
Third 198,844.00 586.54 198,844.00 586.54 0.00 0.00
Fourth 150,106.50 102.40 150,106.50 102.40 0.00 0.00
Fifth 208,464.20 333.70 208,464.20 333.70 0.00 0.00
Sixth 108,054.00 365.67 108,054.00 365.67 0.00 0.00
Seventh 126,859.00 562.21 126,859.00 562.21 0.00 0.00
Eighth 104,153.50 2,835.09 83,322.80 2,835.09 20,830.70 0.00
Ninth 75,943.00 831.92 75,943.00 831.92 0.00 0.00
Tenth 86,722.50 299.79 0.00 0.00 86,722.50 299.79
Totals $1,352,879.20 $6,122.95 $1,245,326.00 $5,823.16 $107,553.20 $299.79
By way of this Application, BRG seeks:
1) Final allowance of compensation for fees incurred
during the First through Tenth Interim Periods, or
$1,352,879.20, of which $1,245,326.00 has been previously
allowed on an interim basis and paid to BRG;
2) Approval for payment to BRG of fees not previously
allowed on an interim basis, or $107,553.20;
3) Final allowance of reimbursement of expenses incurred
by BRG during the First through Tenth Interim Periods, or
$6,122.95, of which $5,823.16 has been previously allowed on an
interim basis and paid to BRG; and
4) Approval for payment to BRG for reimbursement of
expenses not previously allowed on an interim basis, or $299.79.
A. Exhibits to this Application
1. The nature and extent of BRG services during the Tenth
Interim Period are described in subsequent paragraphs and in the
following exhibits to this Application:
008
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 8 of 85
9
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
Exhibit “A” is a copy of the Order Approving Application of
Chapter 11 Trustee to Employ Berkeley Research Group, LLC, of
which the Trustee is a Director, as Successor Accountants,
Effective as of March 1, 2011 (“BRG Employment Order”).
Exhibit "B" is a monthly summary of fees incurred by BRG as
accountants for the Trustee, organized by category of service.
Exhibit "C" is a schedule setting forth the total hours
each professional and paraprofessional has expended for BRG in
this case during the Tenth and Final Period and the hourly rates
for those services.
Exhibit "D" provides the detailed time entries and
descriptions for services provided, organized by category of
service performed. The average hourly billing rate for BRG was
$323.95.
Exhibit "E" is a summary of costs and expenses incurred by
BRG, organized by category of expense.
Exhibit "F" provides a detailed schedule of costs and
expenses incurred by BRG, organized by category of expense.
Exhibit "G" includes the resumes describing the education
and qualifications of the professionals and paraprofessionals
for BRG whose time constitutes a basis for this Application.
Exhibit "H" is a schedule of Applicant’s normal hourly
billing rates during the Tenth and Final Period. These were the
rates charged by Applicant’s personnel to solvent clients for
which Applicant ordinarily receives payment in full within less
than 90 days. Applicant carefully reviewed all time charges to
ensure they were reasonable and non-duplicative. Costs and
009
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 9 of 85
10
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
disbursements were also reviewed. Time was billed in tenths of
an hour.
2. BRG has reviewed and “written-off” time for service
and expenses which generally may not be billed to bankruptcy
estates. Additionally, BRG has voluntarily removed all travel
time to/from Court, which typically can be billed to bankruptcy
estates at half rates, all travel related expenses incurred by
BRG professionals on this case living outside the Los Angeles,
CA area that would not have normally been incurred by Los
Angeles professionals working on out-of-town engagements, and
has capped hourly rates of its professionals at $500 per hour
based on the guidelines set forth by the Court.
B. Reasonableness of Rates
1. Each year, BRG attempts to gather accurate information
about rates charged by comparable accounting firms for
comparable services to ensure its rates are competitive.
BRG is informed and believes the rates charged by its staff and
accountants are fair and reasonable in light of the rates
charged by comparable firms. By way of example, Mr. Calder has
an hourly rate of $590 (reduced to $500 per hour for this
matter) during the billing period, which is among the highest
rates of any BRG professional whose time is included in this
application. As set forth in Mr. Calder’s resume (Exhibit “G”),
Mr. Calder has over 30 years of public accounting experience.
Applicant is informed and believes professionals at Mr. Calder’s
level at so-called “Big-Four” or equivalent accounting or
consulting firms, with whom Applicant competes, have hourly
rates as high, or higher, than those of Applicant.
010
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 10 of 85
11
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
2. During January of each year, BRG revises its billing
rates for new cases accepted thereafter and for pending cases in
the coming year based on facts described above. All services
included in this fee application were billed at the applicable
standard hourly rates.
II.
BACKGROUND FACTS/DESCRIPTION OF SERVICES
A. Case Background
1. The Debtor, EFI, was a private money lender in central
California. EFI had been a licensed real estate brokerage firm
since the late 1980’s according to the prepetition Offering
Circular for EFI and a related entity, Estate Financial Mortgage
Fund, LLC (“EFMF” or the “Fund”). EFI solicited investments
for, arranged and executed, real estate loans secured by first
deeds of trust encumbering commercial and residential real
estate primarily located in California. Investors were placed
by EFI in certain loans pursuant to their investment and were to
receive an assignment of a fractional interest in the underlying
deed of trust. EFI was also the sole manager of the Fund, which
is a California Limited Liability Company organized for the
purpose of creating a pool of investors to invest in these
secured loans arranged by EFI. The Fund had been investing in
EFI arranged and serviced mortgage loans since 2002.
2. Five creditors filed an involuntary petition against
the Debtor on June 25, 2008(“Petition Date”). EFI consented to
the entry of an order for relief under chapter 11 on July 11,
2008 and an order was entered on July 16, 2008 by the United
States Bankruptcy Court for the Central District of California,
011
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 11 of 85
12
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
Northern Division (the “Court”). This chapter 11 case is
related to another chapter 11 case pending before this Court,
that of EFMF bankruptcy case 9:08-bk-11535-RR. The EFMF chapter
11 case was filed with the Court on July 1, 2008.
3. On July 25, Thomas P. Jeremiassen was appointed the
chapter 11 trustee for the EFI bankruptcy estate (the “Trustee”)
and Bradley D. Sharp was appointed the chapter 11 trustee for
the EFMF bankruptcy estate (the “EFMF Trustee”)(collectively,
the “Trustees”) by the Court.
4. As of the Petition Date, there were 544 outstanding
loans (including approximately 42 loans for which the underlying
real property had been foreclosed upon or deeded to EFI or its
investors in lieu of foreclosure). All of the remaining loans
were in default and the Trustees worked closely together to
service, foreclose, reconcile, investigate, and liquidate these
loans and underlying real property for the benefit of their
constituencies.
5. These 544 loans were funded with several thousand
direct investments by more than 1,000 individual “direct”
investors and by the Fund, which itself has over 1,500 remaining
investors. The 544 loans had outstanding principal balances
totaling nearly $318 million, of which approximately $151
million was funded by the Fund with the remainder of roughly
$167 million funded by other direct investors as of the
bankruptcy filings.
6. In an effort to minimize duplication of efforts and
maximize efficiency, the Trustee and the EFMF Trustee originally
agreed that LECG, LLC (“LECG”) would be employed as accountants,
012
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 12 of 85
13
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
and Development Specialist, Inc. (“DSI”) would be employed as
financial advisors in both chapter 11 bankruptcy cases.
7. LECG was employed as Accountants to the Trustee
effective July 30, 2008, pursuant to the LECG Employment Order.
8. On September 4, 2008, the Office of the United States
Trustee (“OUST”) appointed an official investors’ committee in
the EFMF chapter 11 case.
9. On October 20, 2008, the OUST appointed an official
committee of unsecured creditors in the EFI chapter 11 case.
10. On March 1, 2011, the LECG professionals with primary
responsibility for the EFI and EFMF matters joined BRG. Due to
existing and immediate demands of the case, the BRG
professionals and staff continued to provide services to the
Trustee and submitted an application with the Court to employ
BRG in a role similar to LECG. BRG was employed as Successor
Accountants to the Trustee effective March 1, 2011 pursuant to
the BRG Employment Order.
11. This case had some very challenging and complex issues
for the Trustee which required a significant amount of time to
analyze, reconcile, investigate and resolve in order to
liquidate and ultimately distribute proceeds upon the sale of
real property, including examples listed below:
a. poor real estate and mortgage environment;
b. poor record keeping and documentation;
c. significant number of difficult and complex
legal and accounting issues that have been
identified, including;
013
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 13 of 85
14
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
i. various loan layers beginning with an
original land acquisition loan, which many
times were later sub-divided and refinanced
into individual construction loans, and
later refinanced several times;
ii. loans were not properly paid off and
reconveyed upon a refinancing leaving two
competing loans with different investor
groups on the same property;
iii. assignments that were never prepared and/or
recorded with the county, recorded in the
wrong county, recorded using wrong ownership
percentages, remained on title after
investor was paid, prepared using wrong
investor name, recorded within 90-day
preference period, and recorded referencing
wrong instrument and/or document numbers;
iv. numerous loans were fully funded and
periodic loan servicing advances were paid
from both EFI and EFMF for on-going
construction costs and interest payments due
to borrower defaults;
v. numerous transfers made to/from loans to
cover construction costs, interest payments,
lot payoffs, etc. when needed;
vi. circular cash transactions between related
loans, with no real economic substance, to
014
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 14 of 85
15
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
transfer investors from old loan to new
refinanced loan;
vii. large number of related party loans and
transactions;
viii.significant number of investor roll-overs to
new loans with or without investor
knowledge;
ix. Fund investments moving in and out of loans
on an “as needed” basis causing fluctuations
in principal balances over loan history.
ix. EFI performed accounting functions for many
of the borrowers including tracking
construction costs and paying vendors and
subcontractors;
x. transaction descriptions are vague,
cryptic, and many times difficult to
decipher;
d. properties are in varying stages of completion;
e. properties span a large geographical area within
California.
12. Ultimately, as of November 21, 2016, the effective
date of the confirmed plan of liquidation proposed by the
Trustee and the EFI Creditors’ Committee, all of the loans were
disposed of, including the sale of properties securing 529 loans
for gross proceeds totaling approximately $94 million. To date,
distributions to investors from the Trustee have totaled
approximately $40 million.
015
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 15 of 85
16
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
B. Description of Services
Applicant has been employed to render professional services
to the Trustee which include, without limitation, assisting the
Trustee in the administration of the Estate; preparing Monthly
Operating Reports and other financial reporting as required by
the Bankruptcy Code, the U.S. Trustee or other applicable law;
assisting the Trustee and other professionals employed in the
chapter 11 case with the preparation of required bankruptcy
filings including the Seven-day Package, Top-20 Unsecured
Creditor Listing, Bankruptcy Schedules and Statement of
Financial Affairs; carving out Debtor operations and activity
from Karen Guth and Joshua Yaguda entities and Borrower
transactions and obligations being account for by EFI;
investigating allegations of fraudulent activity; analyzing and
accounting for daily transactions; maintaining post-petition
general ledger; assisting the Trustee in the identification of
assets, including real property, personal property, and causes
of action; performing any necessary tax compliance, planning and
other analysis required by the Trustee to properly administer
the estate; assisting the Trustee in preparations of federal and
state income tax returns for the estate; communicating with
taxing authorities on behalf of the Estate; conducting a massive
loan reconciliation and investigation including analyzing and
reconciling investor accounts, deeds of trust, assignments, loan
and investor payoffs, accrued interest, principal balances, and
loan servicing advances; providing cash tracing and related
forensic accounting; reviewing and maintaining insurance
coverage; preparing claims analysis, reconciliation and
016
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 16 of 85
17
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
verification; assisting Trustee with the liquidation of estate
assets and analyses relating to the distribution of proceeds;
investigating potential causes of action; and assisting with
such other accounting services requested by the Trustee.
The details of BRG’s services during the Tenth Interim
Period are included herein as Exhibit "D" and the monthly
summary is provided in Exhibit "B". Without limiting the detail
given in Exhibit "D", the areas of emphasis of work are as
follows:
1. General Accounting (120): Applicant rendered general
accounting services pursuant to the needs of the Estate. For
example, Applicant maintained system for tracking deposits and
allocating to individual properties/loans; reconciled and
recorded activity for on-going post-petition accounts of the
Trustee; paid approved invoices required to maintain and protect
the assets of the Estate; prepared and tracked construction and
loan servicing trust balances by loan; allocated and applied
invoices to specific projects to pay expenses by property/loan;
prepared accruals and journal entries as required; recorded and
allocated professional fees; researched, deposited, prepared
check requests for EFI Trustee for various invoices,
professional fees and expenses, and distribution to investors;
and applied rent and other deposits received on a daily basis.
Additionally, as more and more properties are sold, claims
identified and addressed, and potential distributions analyzed
and made to investors, additional tracking and segregation of
proceeds is required and requested by the EFI Trustee.
017
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 17 of 85
18
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
During the Tenth Interim Period, BRG has expended 15.00
hours resulting in fees in the amount of $4,725.00 related to
general accounting issues.
2. Monthly Court Reporting (130): During the time period
covered by this application, Applicant prepared eleven required
Monthly Operating Reports from December 2015 through October
2016. Applicant analyzed the Trustee’s accounting system,
maintained by the Applicant, in order to identify and compile
the Debtor's assets, liabilities, and cash activity to be
reported in the respective Monthly Operating Reports. In
addition, BRG analyzed bank accounts in order to determine asset
values as of the end of each monthly reporting period. As more
properties are sold, the Trustee has established numerous
segregated bank accounts that need to be included in the Monthly
Operating Report. BRG also coordinated the filing of these
Monthly Operating Reports with the U.S. Trustee’s office and
OMNI Management Group.
During the Tenth Interim Period, BRG expended 40.90 hours
resulting in fees in the amount of $12,343.50 related to monthly
court reporting.
3. Loan /Property Analysis & Reconciliations (300 –
354.4): Applicant undertook a massive loan/property analysis
and reconciliation for the 544 outstanding loans at the
direction of the Trustee. This analysis and reconciliation were
an integral part of the liquidation and distribution process.
Each of these loans had its own unique issues needing analysis
and examination prior to the sale of the underlying real
property and distribution of proceeds.
018
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 18 of 85
19
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
Applicant has included task codes 3000 through 3544 in this
category as they pertain to the loan/property analysis and
reconciliation project. The 3000 task code pertains to work
performed that could not be allocated to specific loans.
Applicant has attempted to allocate time to specific loans
whenever possible (see task codes 300.1–354.4).
Applicant is utilizing two large databases that it has
developed as part of the massive loan/property analysis and
reconciliation process. Applicant will refer to these databases
as the Loan Tracking Database and the Phase II Loan
Reconciliation Database.
The Loan Tracking Database was developed from a variety of
data sources including data extracted from the Debtor’s loan
servicing software, loan files, preliminary title reports,
closing statements and sale documentation, etc. to analyze and
track the details and information of the 544 outstanding loans.
This database is being utilized for numerous purposes,
including, but not limited to:
A. Phase I Loan Reconciliation – The Phase I loan
reconciliation provides the loan details, calculates the
total amount owed on the loan and identifies the ownership
problems and issues. Below are examples of the information
analyzed and captured in this reconciliation:
i. identification of the loan details and terms
(i.e. interest rates, loan term, original loan amount,
property description, borrower, investors, sold rate,
last interest payment, etc.);
ii. identification of amounts funded by investors;
019
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 19 of 85
20
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
iii. calculation of funding percentage of loan by
investor;
iv. verification of funding percentage with
assignments and preliminary title reports;
v. identification of assignment/ownership issues
including non-existent assignments, assignment errors,
and recording issues (some loans have numerous
investors and assignments);
vi. calculation and reconciliation of loan balances,
including the following items:
a. outstanding principal balance;
b. accrued unpaid interest;
c. loan servicing fee;
d. loan servicing advances;
e. late charges;
f. rents received;
g. construction trust balance; and
h. loan servicing trust balance.
B. Sale Procedures Exhibits and Schedules – The Loan
Tracking Database is being utilized to track and query data
to prepare the exhibits and schedules provided to investors
to obtain majority consent, if required, pursuant to the
approved sale procedures. These exhibits and schedules
include information such as:
i. loan number(s) involved;
ii. property description and address;
iii. whether improvements to property have been
completed;
020
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 20 of 85
21
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
iv. current recorded holders of loan or property;
v. marketing details/realtors commissions;
vi. proposed buyer;
vii. gross purchase price/comparable property values;
viii.payments from proceeds – closing costs;
ix. loan payoff balance;
x. whether transaction will pay off the loan in full
or will be a short pay;
xi. whether majority action is required;
xii. disbursements to EFI estate for advances and
fees;
xiii.other disbursements;
xiv. net proceeds to EFI trustee for distribution to
co-owners or segregated account; and
xv. a proposed distribution.
C. Sale and Distribution Tracking – The Loan Tracking
Database is also being utilized to track results of the
real property sales upon closing, distributions to
investors, and amounts held by loan, and by investor until
issues are ultimately resolved.
The Trustee, with the assistance of their professionals,
have sold properties or have received loan payoffs secured by
529 loans with gross sales prices totaling approximately $94.2
million to date. The Trustee has distributed through
December 31, 2016, approximately $25.7 million to individual,
“direct” investors, and approximately $14.1 million to EFMF.
The Phase II Loan Reconciliation Database was developed
from a variety of data sources including data extracted from the
021
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 21 of 85
22
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
Debtor’s loan servicing software, loan files, bank statements,
deposit detail, check detail, and bank reconciliation
information. This database is being utilized for several
purposes, including, but not limited to:
A. understanding the relationships and transactions
between loans. Many loans originated with a land
acquisition loan, after which, land was subdivided and
individual lot loans were executed. Many of these lot
loans were later refinanced several times.
B. identifying instances where the original loan was not
paid off upon refinancing resulting in competing loans
on the same property.
C. confirming and verifying loan servicing trust balances
by loan.
D. confirming and verifying construction trust balances
by loan.
E. analyzing the detail transactions by loan relating to
investor activity, construction costs, loan
acquisition costs, loan servicer advances, activity
to/from other loans, transfers to/from loan servicing
account, interest payments from borrowers, interest
payments to investors, return of principal payments to
investors, loan fees, etc.
F. identifying and confirming amounts to include in Phase
I Loan Reconciliation.
Applicant has faced a number of challenges extracting,
compiling, and analyzing the loan data in the construction trust
account and loan servicing account by loan number. For example:
022
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 22 of 85
23
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
A. Many transaction descriptions prepared by the Debtor
are vague and cryptic, requiring further investigation
in the loan files and documentation.
B. The Debtor’s record keeping and documentation are
poor.
C. Loan servicing trust activity reflected in the trust
module of the Debtor’s loan servicing software does
not distinguish payments to the investors by loan.
These amounts were summarized, paid and recorded on
one check. Applicant’s programmers were able to match
up these checks with another table in the loan
servicing module by check number, however, there were
numerous instances in which the check numbers and
amounts per the loan servicing module did not match
those in the trust module. Applicant was required to
manually review many of these transactions to properly
break amounts out by loan. There are still over 5,000
transactions that have not been allocated to a loan.
As each loan is analyzed prior to sale, some of these
unallocated transactions are identified through the
reconciliation process.
D. On many occasions Applicant is required to analyze the
predecessor loans of the loan being analyzed (loan
acquisition loan, lot loans, and lot refinances) in
023
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 23 of 85
24
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
order to understand the transaction flows, investor
makeup, and economic substance of the remaining loan.
To date the Phase II Loan Reconciliation Database consists
of over 150,000 records for the construction trust account and
550,000 for the loan servicing trust. As loans are analyzed the
transactions are categorized and summarized type. The following
are examples of these categories:
i. investor investments;
ii. construction draws and costs;
iii. loan fees;
iv. loan servicer advances;
v. transfers between loan servicing and construction
account;
vi. transfers between other loans;
vii. borrower payments;
viii.investor interest payments; and
iv. investor principal payments;
During the Tenth Interim Period, BRG expended 37.90 hours
resulting in fees in the amount of $11,370.00 related to loans,
property analysis and reconciliations.
5. Claims Analysis (400): Applicant reviewed and
analyzed claims database received from Rust Omni, the estate’s
claims agent, analyzed over 3,800 claims filed by vendors,
borrowers, and lenders/investors totaling approximate $1
billion, reconciled amounts with Debtor records and scheduled
claim amounts, performed preliminary reconciliation with Trustee
property sales activity and unsecured claims awarded as a result
of the sale, and assisted counsel with omnibus claims objections
024
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 24 of 85
25
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
related to claims filed by investors for whom settlement
agreements have been reached with respect to all investments.
Through November 20, 2016, objections to over 2,000 claims
have been filed and sustained by the Court, resulting in a
reduction of claimed amounts totaling approximately $740
million.
During the Tenth Interim Period, BRG expended 60.70 hours
resulting in fees in the amount of $18,250.00 related to claims
analysis.
6. Plan and Disclosure Statement (410): BRG reviewed,
analyzed, and corresponded with the Trustee the various tax
ramifications of proposed Chapter 11 Plan. On October 20, 2016,
on order was entered confirming the third amended plan of
liquidation proposed by the Trustee and the EFI Creditors’
Committee. The confirmed plan went effective on November 21,
2016.
During the Tenth Interim Period, BRG expended 0.10 hours
resulting in fees in the amount of $50.00 related to plan and
disclosure statement.
7. Bryan Cave Litigation (610): Applicant performed
analyses to address damage related issues relating pre-petition
actions of the Debtor’s pre-petition legal counsel, Bryan Cave.
Services include the analysis of pre-petition legal fees, cash,
and asset activity involving hundreds of loans, hundreds of
thousands of cash, real estate and construction related activity
involving hundreds of properties from December 2006 through the
bankruptcy petition.
025
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 25 of 85
26
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
In addition to the damage analysis, a portion of the
Applicant’s time incurred during this period was with respect to
discovery issues, including review of, responses to, and
coordination of, document production requests received from the
Defendants.
During the Tenth Interim Period, BRG expended 31.50 hours
resulting in fees in the amount of $10,709.00 relating to the
Bryan Cave litigation.
8. General Tax Compliance / Planning (700): Applicant
analyzed numerous disbursements related to the sale of REO and
other properties in order to identify investors share of
proceeds, to calculate proceeds due EFI, to identify property
taxes, to identify seller expenses and to determine the proper
reporting of the transaction(s) for the preparation of the 2015
income tax returns. BRG analyzed numerous separate investor
loans related to these real estate transactions in order to
identify investor disbursements, remaining liabilities, if
applicable, and to determine proper income tax reporting.
Applicant also identified allowed deductible expenses related to
these transactions. Applicant prepared detailed work papers to
reconcile the amounts reported on previously prepared Form 1099-
S with the amount of cash received and disbursed. BRG prepared
required 2015 IRS Form(s) 1099S to report distribution of
proceeds from real estate sales to investors. Required 2015 IRS
Form(s) 1099 were provided to investors and to the IRS.
Applicant prepared state minimum tax payment vouchers and
assured that required state minimum tax payments were timely
made.
026
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 26 of 85
27
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
BRG analyzed Liquidating Trust Agreement and consulted with
Trustee to insure compliance with established IRS protocol when
drafting the Plan and Liquidating Trust.
BRG consulted with Trustee regarding requirement to issue
IRS Schedule K-1 to S Corporation shareholders.
During the Tenth Interim Period, BRG expended 43.40 hours
resulting in fees in the amount of $14,662.50 related to general
tax compliance and planning.
9. Income Tax Return Preparation (710): Applicant
analyzed cash receipts and disbursements in order to identify
taxable receipts, to identify deductible expenditures and to
calculate gross rents received in order to properly prepare the
2015 income tax returns.
BRG prepared balance sheet, income statement and other
supporting work papers for the preparation of the 2015 income
tax returns. Applicant referenced all work papers prior to
submitting for review. Applicant prepared the 2015 federal and
state income tax returns of the debtor. BRG reviewed the
completed income tax returns and related supporting work papers
for completeness and accuracy. Revisions and corrections were
made as was required. Applicant caused that the completed
returns were electronically filed with the proper taxing
authorities.
During the Tenth Interim Period, BRG expended 25.90 hours
resulting in fees in the amount of $10,307.50 related to income
tax return preparation.
10. Fee Application Preparation (920): The Applicant
prepared schedules and exhibits detailing its fee and costs
027
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 27 of 85
28
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
incurred, prepared narratives, and finalized BRG’s ninth interim
fee application, which requested fees and expenses incurred
during the period June 1, 2015 through December 31, 2015.
During the Tenth Interim Period, BRG expended 11.30 hours
resulting in fees in the amount of $3,999.00 related to fee
application preparation.
11. Investor Communications / Inquires (932.5): Applicant
addressed inquiries from investors regarding status of
investment, distributions made, and historical investment
activity.
During the Tenth Interim Period, BRG expended 1.00 hours
resulting in fees in the amount of $306.00 related to investor
communications and inquires.
III.
CONCLUSION
1. Applicant believes compensation awarded herein will
account for the quality of services rendered, the complexity of
the issues at hand, the desirability of employment, the results
obtained and the contingency thereof, as well as the actual
hours expended. Applicant believes full payment of its fees is
justified when considered in relation to the benefit of its
work, as described above.
2. No agreement exists between Applicant nor any other
person for the sharing of compensation that is received in
connection with this case, except for the understanding
concerning compensation among its owners/shareholders.
028
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 28 of 85
029
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 29 of 85
30
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
DECLARATION OF VERNON CALDER
I, Vernon Calder, declare as follows:
1. I am a Certified Public Accountant, Certified
Insolvency and Restructuring Adviser, and a Managing Director in
the firm of Berkeley Research Group, LLC (“BRG”). I have read
the foregoing Tenth Interim and Final Application of Berkeley
Research Group, LLC for Compensation and Reimbursement of
Expenses as Accountants to Thomas P. Jeremiassen, Chapter 11
Trustee (the "Application") and know the contents thereof. I
certify the facts stated therein are true of my own knowledge,
except for those stated upon information and belief, which I
believe to be true.
2. The Application seeks final approval for compensation
totaling $1,352,879.20 for fees incurred by BRG from March 1,
2011, through November 20, 2016, of which $1,245,326.00 was
previously approved on an interim basis and paid to BRG. The
time billed in the Application is based on records kept in the
ordinary course of BRG's business, and it is the customary
practice of the professionals and paraprofessionals to record
their time on a substantially contemporaneous basis.
3. The Application also seeks final approval for
reimbursement of expenses totaling $6,122.05 incurred from March
1, 2011, through November 20, 2016, of which $5,823.16 was
previously approved on an interim basis and paid to BRG. It is
customary for BRG to charge its clients for photocopies at $0.20
per copy. BRG also customarily charges its clients for faxes,
postage, overnight mail, courier services, and other such
expenses at its cost.
030
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 30 of 85
031
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 31 of 85
032
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 32 of 85
033
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 33 of 85
034
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 34 of 85
035
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 35 of 85
036
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 36 of 85
037
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 37 of 85
038
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 38 of 85
039
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 39 of 85
040
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 40 of 85
041
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 41 of 85
042
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 42 of 85
043
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 43 of 85
ESTATE FINANCIAL - ACCOUNTANTS TO THE TRUSTEEProfessional ServicesJanuary 1, 2016 - November 20, 2016
CategoryCODE FEE CATEGORIES Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Totals Hours
120 General Accounting 724.50 126.00 693.00 661.50 409.50 189.00 315.00 819.00 346.50 252.00 189.00 4,725.00 15.0
130 Monthly Court Reporting 2,173.50 1,059.00 1,059.00 1,437.00 882.00 409.50 1,008.00 819.00 724.50 1,323.00 1,449.00 12,343.50 40.9
300 Loan / Property Analysis & Reconciliations - General 870.00 1,740.00 600.00 210.00 2,460.00 1,320.00 840.00 480.00 1,590.00 870.00 390.00 11,370.00 37.9
400 Claims Analysis 180.00 3,390.00 3,390.00 1,860.00 600.00 1,200.00 100.00 1,380.00 120.00 990.00 5,040.00 18,250.00 60.7
410 Plan and Disclosure Statement - - - - - 50.00 - - - - - 50.00 0.1
610 Bryan Cave Litigation - 2,720.00 - 189.00 1,050.00 - 1,740.00 2,010.00 937.50 922.50 1,140.00 10,709.00 31.5
700 General Tax Compliance / Planning 10,651.00 1,075.50 138.00 241.50 - 783.00 1,673.50 50.00 50.00 - - 14,662.50 43.4
710 Income Tax Return Preparation - - 137.00 - - - 7,003.50 2,800.50 366.50 - - 10,307.50 25.9
920 Fee Application Preparation 3,999.00 - - - - - - - - - - 3,999.00 11.3
932.5 Investor Communications / Inquiries - - - - - - - - - 306.00 - 306.00 1.0
18,598.00$ 10,110.50$ 6,017.00$ 4,599.00$ 5,401.50$ 3,951.50$ 12,680.00$ 8,358.50$ 4,135.00$ 4,663.50$ 8,208.00$ 86,722.50$ 267.70
Expenses AmountData Retieval 26.80 Parking 18.75 Postage 233.30 Shipping 20.94
-
Total 299.79
TOTAL FEES $86,722.50 BRG, LLC Fed ID No. 27-1451273TOTAL HOURS 267.70TOTAL FEES & EXPENSES $87,022.29AVERAGE BILLING RATE $323.95
1
044
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 44 of 85
045
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 45 of 85
Estate Financial - Accountant to the TrusteeTimekeeper SummaryJanuary 1, 2016 - November 20, 2016
Name Position Rate Year 2016 Hours Amount
Vernon Calder Director $ 500.00 11.40 $ 5,700.00 Paul Shields Director 500.00 5.20 2,600.00 Leif Larsen Senior Managing Consultant 435.00 37.10 16,138.50 Spencer Ferrero Consultant 315.00 53.00 16,695.00 James Armstrong Consultant 300.00 140.00 42,000.00 Laura Kramer Associate 240.00 7.20 1,728.00 Alec Swope Summer Associate 175.00 5.00 875.00 Evelyn Perry Paraprofessional 155.00 3.60 558.00 Kathy McKee Paraprofessional 95.00 0.80 76.00 Victoria Calder Summer Intern 80.00 4.40 352.00
Total Hours & Fees 267.70 86,722.50$
BRG, LLC Fed ID No. 27-1451273
046
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 46 of 85
047
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 47 of 85
-
Estate Financial - Accountant to the TrusteeJanuary 1, 2016 - November 20, 2016
TASK CODE SUMMARYTASK CODE DESCRIPTION
Average Rate HOURS AMOUNT
120 General Accounting 315.00 15.00 4,725.00 130 Monthly Court Reporting 301.80 40.90 12,343.50 300 Loan / Property Analysis & Reconciliations - General 300.00 37.90 11,370.00 400 Claims Analysis 300.66 60.70 18,250.00 410 Plan and Disclosure Statement 500.00 0.10 50.00 610 Bryan Cave Litigation 339.97 31.50 10,709.00 700 General Tax Compliance / Planning 337.85 43.40 14,662.50 710 Income Tax Return Preparation 397.97 25.90 10,307.50 920 Fee Application Preparation 353.89 11.30 3,999.00
932.5 Investor Communications / Inquiries 306.00 1.00 306.00
323.95 267.70 86,722.50
BRG, LLC Fed ID No. 27-1451273
1048
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 48 of 85
DATE NAME DESCRIPTION HOURS RATE AMOUNT
Re: Estate Financial, Inc.
Service Rendered January 1, 2016 Through November 30, 2016
120.0 General AccountingTask Code:
1/4/2016 Spencer Ferrero Reviewed and analyzed historical water bills for B518-05 per request from new property owner
0.20 315.00 63.00
1/11/2016 Spencer Ferrero Reviewed and analyzed invoices received and check requests in order to update QuickBooks.
0.30 315.00 94.50
1/18/2016 Spencer Ferrero Reviewed and analyzed transfers relating to sales proceeds account in order to update QuickBooks.
0.40 315.00 126.00
1/21/2016 Spencer Ferrero Reviewed and analyzed payments made to Peggy Coffman to identify any uncashed distribution checks.
0.30 315.00 94.50
1/21/2016 Spencer Ferrero Reviewed and analyzed payments made to Blance Bailey to identify any uncashed distribution checks.
0.30 315.00 94.50
1/21/2016 Spencer Ferrero Reviewed and analyzed invoices received to process check requests and update QuickBooks.
0.30 315.00 94.50
1/22/2016 Spencer Ferrero Reviewed and analyzed payments made to Lorraine Alltounian to identify any uncashed distribution checks.
0.20 315.00 63.00
1/26/2016 Spencer Ferrero Reviewed and analyzed check requests and invoices received to update QuickBooks.
0.30 315.00 94.50
2/16/2016 Spencer Ferrero Conversation with James Armstrong regarding QuickBooks entries and making of adjusting entries.
0.20 315.00 63.00
2/29/2016 Spencer Ferrero Reviewed and analyzed invoices received to process check requests and update QuickBooks
0.20 315.00 63.00
3/1/2016 Spencer Ferrero Reviewed and analyzed checks received to process deposit requests and update QuickBooks
0.20 315.00 63.00
3/1/2016 Spencer Ferrero Reviewed and analyzed invoices received to process check requests and update QuickBooks
0.20 315.00 63.00
3/8/2016 Spencer Ferrero Reviewed and analyzed checks received to process deposit request and update QuickBooks.
0.20 315.00 63.00
3/8/2016 Spencer Ferrero Reviewed and analyzed checks issued to update QuickBooks. 0.20 315.00 63.00
3/22/2016 Spencer Ferrero Reviewed and analyzed professional fee payments to adjust future accruals and update QuickBooks.
0.50 315.00 157.50
3/22/2016 Spencer Ferrero Reviewed and analyzed invoices and checks received in order to process requests and update QuickBooks.
0.40 315.00 126.00
3/28/2016 Spencer Ferrero Reviewed and analyzed invoices received to process check requests and update QuickBooks.
0.30 315.00 94.50
3/29/2016 Spencer Ferrero Reviewed and analyzed invoices received to process check requests and update QuickBooks.
0.20 315.00 63.00
4/7/2016 Spencer Ferrero Reviewed and analyzed transfers involving B575-05 to update QuickBooks.
0.20 315.00 63.00
4/7/2016 Spencer Ferrero Reviewed and analyzed distribution payment made to Kirit Patel per settlement agreement
0.10 315.00 31.50
4/8/2016 Spencer Ferrero Reviewed and analyzed distribution payment made to Kirit Patel per settlement agreement
0.20 315.00 63.00
4/11/2016 Spencer Ferrero Reviewed and analyzed transactions in order to update Sales Proceeds tracking spreadsheet.
0.50 315.00 157.50
4/11/2016 Spencer Ferrero Reviewed and analyzed invoices received to process check requests and update QuickBooks.
0.30 315.00 94.50
4/19/2016 Spencer Ferrero Reviewed and analyzed remaining proceeds in Sales Proceeds account
0.20 315.00 63.00
4/20/2016 Spencer Ferrero Reviewed and analyzed invoices received to process check requests and update QuickBooks
0.20 315.00 63.00
Page 1 of 12
049
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 49 of 85
DATE NAME DESCRIPTION HOURS RATE AMOUNT
Re: Estate Financial, Inc.
Service Rendered January 1, 2016 Through November 30, 2016
4/26/2016 Spencer Ferrero Reviewed and analyzed invoices and check requests in order to update QuickBooks.
0.20 315.00 63.00
4/29/2016 Spencer Ferrero Reviewed and analyzed invoices and check requests in order to update QuickBooks.
0.20 315.00 63.00
5/4/2016 Spencer Ferrero Reviewed and analyzed invoices received to process check requests and update QuickBooks.
0.20 315.00 63.00
5/9/2016 Spencer Ferrero Reviewed QuickBooks to identify professional fees expense. 0.30 315.00 94.50
5/12/2016 Spencer Ferrero Reviewed and analyzed distributions to Michael Donahue. 0.10 315.00 31.50
5/17/2016 Spencer Ferrero Reviewed and analyzed checks received to process deposit requests and update QuickBooks.
0.20 315.00 63.00
5/20/2016 Spencer Ferrero Reviewed and analyzed invoices in order to process check request and update QuickBooks
0.10 315.00 31.50
5/31/2016 Spencer Ferrero Reviewed and analyzed invoices received to process check requests and update QuickBooks.
0.40 315.00 126.00
6/14/2016 Spencer Ferrero Reviewed and analyzed invoices received to process check requests and update QuickBooks.
0.20 315.00 63.00
6/21/2016 Spencer Ferrero Reviewed and analyzed invoices received to process check requests and update QuickBooks.
0.20 315.00 63.00
6/21/2016 Spencer Ferrero Reviewed and analyzed checks paid to update QuickBooks. 0.20 315.00 63.00
7/5/2016 Spencer Ferrero Reviewed and analyzed invoices received to process check requests and update QuickBooks.
0.30 315.00 94.50
7/19/2016 Spencer Ferrero Reviewed and analyzed invoices received to process check request and update QuickBooks.
0.20 315.00 63.00
7/19/2016 Spencer Ferrero Reviewed and analyzed checks received to process deposit requests and update QuickBooks.
0.30 315.00 94.50
7/28/2016 Spencer Ferrero Reviewed and analyzed invoices received to process check requests and update QuickBooks
0.20 315.00 63.00
8/11/2016 Spencer Ferrero Reviewed and analyzed stopped checks for possible reissuance. 0.20 315.00 63.00
8/12/2016 Spencer Ferrero Reviewed and analyzed invoices received to process check requests and update QuickBooks.
0.30 315.00 94.50
8/15/2016 Spencer Ferrero Reviewed and analyzed invoices received to process check requests and update QuickBooks.
0.20 315.00 63.00
8/16/2016 Spencer Ferrero Prepared checks to pay invoices. 0.80 315.00 252.00
8/16/2016 Spencer Ferrero Reviewed and analyzed checks issued for invoices in order to update QuickBooks.
0.20 315.00 63.00
8/22/2016 Spencer Ferrero Prepared check requests for payment. 0.20 315.00 63.00
8/23/2016 Spencer Ferrero Prepared distribution check from settlement notice. 0.30 315.00 94.50
8/24/2016 Spencer Ferrero Reviewed checks received to process deposit request and update QuickBooks.
0.40 315.00 126.00
9/13/2016 Spencer Ferrero Reviewed and analyzed invoices received to process check requests and update QuickBooks
0.20 315.00 63.00
9/21/2016 Spencer Ferrero Reviewed and analyzed invoices received in order to update QuickBooks
0.20 315.00 63.00
9/21/2016 Spencer Ferrero Reviewed and analyzed checks issued in order to update QuickBooks. 0.20 315.00 63.00
9/23/2016 Spencer Ferrero Reviewed and analyzed invoices received in order to update QuickBooks
0.20 315.00 63.00
9/29/2016 Spencer Ferrero Reviewed and analyzed total distributions issued to Brad Clark. 0.30 315.00 94.50
10/20/2016 Spencer Ferrero Reviewed and analyzed invoices received to process check requests and update QuickBooks
0.20 315.00 63.00
Page 2 of 12
050
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 50 of 85
DATE NAME DESCRIPTION HOURS RATE AMOUNT
Re: Estate Financial, Inc.
Service Rendered January 1, 2016 Through November 30, 2016
10/20/2016 Spencer Ferrero Reviewed and analyzed sales proceeds transfers in order to update sales proceeds tracking sheet.
0.40 315.00 126.00
10/20/2016 Spencer Ferrero Reviewed and analyzed checks received to process deposit requests and update QuickBooks
0.20 315.00 63.00
11/7/2016 Spencer Ferrero Reviewed and analyzed invoices received to process check requests and update QuickBooks.
0.30 315.00 94.50
11/11/2016 Spencer Ferrero Reviewed and analyzed invoices received to process check requests and update QuickBooks.
0.30 315.00 94.50
Total for Task Code: 15.00120.0 4,725.00General Accounting
130.0 Monthly Court ReportingTask Code:
1/7/2016 Spencer Ferrero Reviewed disbursements and receipts in order to prepare December 2015 monthly operating report.
1.40 315.00 441.00
1/7/2016 Spencer Ferrero Reviewed distributions and tax adjusting entries in order to prepare December 2015 monthly operating report.
1.70 315.00 535.50
1/8/2016 Spencer Ferrero Reviewed distributions and tax adjusting entries in order to prepare December 2015 monthly operating report.
0.30 315.00 94.50
1/8/2016 Laura Kramer Analyzed and reviewed bank statements to confirm and list the balance at 12/31/15 for the creation of the bond status reports.
0.30 240.00 72.00
1/12/2016 Laura Kramer Analyzed and reviewed bank statements to reconcile with ledger reports to create bank reconciliations.
0.50 240.00 120.00
1/12/2016 Laura Kramer Analyzed and reviewed bank statements and bonds to confirm and list the balance at 12/31/15 for the creation of the bond status reports.
0.60 240.00 144.00
1/13/2016 Laura Kramer Analyzed and reviewed bank statements to confirm and list the balance at 12/31/15 for the creation of the bond status reports.
0.50 240.00 120.00
1/14/2016 Laura Kramer Analyzed and reviewed bank statements to confirm and list the balance at 12/31/15 for the creation of the bond status reports.
0.30 240.00 72.00
1/19/2016 Laura Kramer Analyzed and reviewed bank statements to reconcile with ledger reports to create bank reconciliations for November 2015.
0.70 240.00 168.00
1/20/2016 Laura Kramer Analyzed and reviewed bank statements to reconcile with ledger reports to create bank reconciliations for November 2015.
1.00 240.00 240.00
1/27/2016 Spencer Ferrero Reviewed November 2015 bank reconciliations. 0.30 315.00 94.50
1/28/2016 Laura Kramer Analyzed and reviewed bank statements to reconcile with ledger balance for December 2015 bank reconciliations.
0.30 240.00 72.00
2/9/2016 Spencer Ferrero Prepared January 2016 monthly operating report. 2.40 315.00 756.00
2/17/2016 Spencer Ferrero Prepared January 2016 monthly operating report. 0.20 315.00 63.00
2/23/2016 Laura Kramer Analyzed and reviewed bank statements to reconcile with ledger balance for December 2015 bank reconciliations.
0.50 240.00 120.00
2/24/2016 Laura Kramer Analyzed and reviewed distributions amounts to spot check and confirm amounts matched.
0.50 240.00 120.00
3/7/2016 Spencer Ferrero Prepared February 2016 monthly operating report. 2.40 315.00 756.00
3/8/2016 Spencer Ferrero Reviewed December 2015 bank reconciliations. 0.20 315.00 63.00
3/28/2016 Laura Kramer Analyzed and reviewed bank statement to confirm stale dated check was reversed to complete December 2015 bank reconciliations.
0.30 240.00 72.00
3/30/2016 Laura Kramer Analyzed and reviewed February 2016 bank statements and detailed bank reconciliation reports to reconcile accounts.
0.20 240.00 48.00
3/31/2016 Laura Kramer Analyzed and reviewed January 2016 bank statements and detailed bank reconciliation reports to reconcile accounts.
0.50 240.00 120.00
Page 3 of 12
051
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 51 of 85
DATE NAME DESCRIPTION HOURS RATE AMOUNT
Re: Estate Financial, Inc.
Service Rendered January 1, 2016 Through November 30, 2016
4/1/2016 Laura Kramer Analyzed and reviewed February 2016 bank statements and detailed bank reconciliation reports to reconcile accounts.
0.60 240.00 144.00
4/6/2016 Spencer Ferrero Reviewed January 2016 bank reconciliations. 0.30 315.00 94.50
4/11/2016 Spencer Ferrero Reviewed transfers and QuickBooks transactions in order to prepare March 2016 monthly operating report.
1.10 315.00 346.50
4/11/2016 Spencer Ferrero Reviewed receipts and disbursements in order to prepare March 2016 monthly operating report.
2.20 315.00 693.00
4/12/2016 Laura Kramer Analyzed and reviewed bank statements and ledger reports to confirm amounts and prepare the first quarter bond status reports for UST.
0.40 240.00 96.00
4/12/2016 Spencer Ferrero Reviewed February 2016 bank reconciliations. 0.20 315.00 63.00
5/11/2016 Spencer Ferrero Prepared April 2016 monthly operating report. 2.40 315.00 756.00
5/12/2016 Spencer Ferrero Prepared April 2016 monthly operating report. 0.20 315.00 63.00
5/18/2016 Spencer Ferrero Reviewed March 2016 bank reconciliations 0.20 315.00 63.00
6/6/2016 Spencer Ferrero Prepared May 2016 monthly operating report. 1.00 315.00 315.00
6/14/2016 Spencer Ferrero Prepared May 2016 monthly operating report. 0.30 315.00 94.50
7/6/2016 Spencer Ferrero Prepared June 2016 monthly operating report. 2.30 315.00 724.50
7/6/2016 Spencer Ferrero Reviewed April 2016 bank reconciliations. 0.20 315.00 63.00
7/8/2016 Spencer Ferrero Prepared June 2016 monthly operating report. 0.50 315.00 157.50
7/14/2016 Spencer Ferrero Reviewed May 2016 bank reconciliations. 0.20 315.00 63.00
8/2/2016 Spencer Ferrero Reconciled June 2016 bank statements. 0.50 315.00 157.50
8/15/2016 Spencer Ferrero Prepared July 2016 monthly operating report 2.10 315.00 661.50
9/9/2016 Spencer Ferrero Prepared MOR for August 2016 2.10 315.00 661.50
9/30/2016 Spencer Ferrero Reviewed and analyzed August 2016 monthly operating report. 0.20 315.00 63.00
10/3/2016 Spencer Ferrero Reconciled July 2016 bank statements 0.10 315.00 31.50
10/5/2016 Spencer Ferrero Reconciled July 2016 bank statements 0.50 315.00 157.50
10/12/2016 Spencer Ferrero Prepared September 2016 monthly operating report 2.30 315.00 724.50
10/21/2016 Spencer Ferrero Reconciled August 2016 bank statements 0.20 315.00 63.00
10/25/2016 Spencer Ferrero Reconciled August 2016 bank statements 0.40 315.00 126.00
10/25/2016 Spencer Ferrero Reconciled September 2016 bank statements 0.30 315.00 94.50
10/26/2016 Spencer Ferrero Reconciled August 2016 bank statements 0.20 315.00 63.00
10/26/2016 Spencer Ferrero Reconciled September 2016 bank statements 0.20 315.00 63.00
11/4/2016 Spencer Ferrero Reconciled August and September 2016 bank statements 0.10 315.00 31.50
11/7/2016 Spencer Ferrero Prepared October 2016 monthly operating report. 2.20 315.00 693.00
11/11/2016 Spencer Ferrero Prepared October 2016 monthly operating report. 1.60 315.00 504.00
11/11/2016 Spencer Ferrero Reconciled cash transactions to sales proceeds tracking schedule. 0.70 315.00 220.50
Total for Task Code: 40.90130.0 12,343.50Monthly Court Reporting
300.0 Loan / Property Analysis & Reconciliations - GeneralTask Code:
1/6/2016 James Armstrong Reviewed and processed distributions for settlements signed. 0.40 300.00 120.00
1/7/2016 James Armstrong Reviewed and processed distributions for settlements signed. 0.20 300.00 60.00
1/14/2016 James Armstrong Reviewed and analyzed balances in the Sales Proceeds banking account.
0.70 300.00 210.00
Page 4 of 12
052
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 52 of 85
DATE NAME DESCRIPTION HOURS RATE AMOUNT
Re: Estate Financial, Inc.
Service Rendered January 1, 2016 Through November 30, 2016
1/14/2016 James Armstrong Reviewed and processed distributions for settlements signed. 1.30 300.00 390.00
1/30/2016 James Armstrong Reviewed and processed distributions for settlements signed. 0.30 300.00 90.00
2/2/2016 James Armstrong Reviewed and processed distributions for settlements signed. 0.20 300.00 60.00
2/2/2016 James Armstrong Reviewed and updated the Exhibit A schedules for loan B575-05. 1.60 300.00 480.00
2/3/2016 James Armstrong Reviewed and updated the Exhibit A schedules for loan B575-05. 0.70 300.00 210.00
2/7/2016 James Armstrong Reviewed and updated the Exhibit A schedules for loan B575-05. 0.50 300.00 150.00
2/10/2016 James Armstrong Reviewed and analyzed balances in the Sales Proceeds banking account.
0.80 300.00 240.00
2/15/2016 James Armstrong Reviewed and processed distributions for settlements signed. 0.30 300.00 90.00
2/15/2016 James Armstrong Reviewed and analyzed balances in the Sales Proceeds banking account.
1.70 300.00 510.00
3/15/2016 James Armstrong Reviewed and processed distributions for settlements signed. 0.80 300.00 240.00
3/15/2016 James Armstrong Reviewed and analyzed address information for stale distribution checks.
0.90 300.00 270.00
3/29/2016 James Armstrong Reviewed and processed distributions for settlements signed. 0.30 300.00 90.00
4/4/2016 James Armstrong Reviewed and analyzed the Exhibit A schedules for loan B575-05. 0.50 300.00 150.00
4/5/2016 James Armstrong Reviewed and analyzed the Exhibit A schedules for loan B575-05. 0.20 300.00 60.00
5/5/2016 James Armstrong Reviewed and processed distributions to investors with signed agreements.
0.50 300.00 150.00
5/18/2016 James Armstrong Reviewed and analyzed the loan history for the Goleta related loans. 0.70 300.00 210.00
5/19/2016 James Armstrong Reviewed and analyzed the loan history for the Goleta related loans. 0.80 300.00 240.00
5/24/2016 James Armstrong Reviewed and analyzed the loan history for the Goleta related loans. 2.50 300.00 750.00
5/26/2016 James Armstrong Reviewed and analyzed the loan history for the Dorama related loans. 2.30 300.00 690.00
5/27/2016 James Armstrong Reviewed and analyzed the loan history for the Dorama related loans. 0.80 300.00 240.00
5/30/2016 James Armstrong Reviewed and analyzed the loan history for the Dorama related loans. 0.60 300.00 180.00
6/13/2016 James Armstrong Reviewed and processed distributions to investors with signed agreements.
0.90 300.00 270.00
6/13/2016 James Armstrong Reviewed and analyzed the loan history for the Goleta related loans. 0.70 300.00 210.00
6/16/2016 James Armstrong Reviewed and analyzed the loan history for the Goleta related loans. 0.50 300.00 150.00
6/27/2016 James Armstrong Reviewed and processed distributions to investors with signed agreements.
0.50 300.00 150.00
6/28/2016 James Armstrong Reviewed and analyzed signed agreements outstanding. 1.80 300.00 540.00
7/6/2016 James Armstrong Reviewed and processed distributions to investors with signed agreements.
0.90 300.00 270.00
7/8/2016 James Armstrong Reviewed and processed distributions to investors with signed agreements.
0.50 300.00 150.00
7/30/2016 James Armstrong Reviewed and analyzed signed agreements outstanding. 1.40 300.00 420.00
8/16/2016 James Armstrong Reviewed and analyzed the distribution schedules for loan B367-05. 0.90 300.00 270.00
8/23/2016 James Armstrong Reviewed and processed distributions to investors with signed agreements.
0.70 300.00 210.00
9/20/2016 James Armstrong Reviewed and processed ditributions to investors with signed agreements.
0.70 300.00 210.00
9/20/2016 James Armstrong Reviewed and analyzed the Exhibit A schedules for loans B575-05 & B649-05.
0.60 300.00 180.00
Page 5 of 12
053
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 53 of 85
DATE NAME DESCRIPTION HOURS RATE AMOUNT
Re: Estate Financial, Inc.
Service Rendered January 1, 2016 Through November 30, 2016
9/21/2016 James Armstrong Reviewed and analyzed the Exhibit A schedules for loans B575-05 & B649-05.
1.70 300.00 510.00
9/22/2016 James Armstrong Reviewed and analyzed the Exhibit A schedules for loans B575-05 & B649-05.
0.30 300.00 90.00
9/27/2016 James Armstrong Reviewed and analyzed the distribution schedules for loan B367-05. 1.10 300.00 330.00
9/28/2016 James Armstrong Reviewed and analyzed the distribution schedules for loan B367-05. 0.50 300.00 150.00
9/30/2016 James Armstrong Reviewed and processed distributions to investors with signed agreements.
0.40 300.00 120.00
10/18/2016 James Armstrong Reviewed and processed distributions to investors with signed agreements.
0.80 300.00 240.00
10/20/2016 James Armstrong Reviewed and processed distibutions to investors with signed agreements.
0.50 300.00 150.00
10/23/2016 James Armstrong Reviewed and processed distributions for proceeds received on loans B575-05 & B649-05.
1.30 300.00 390.00
10/24/2016 James Armstrong Reviewed and processed distributions for proceeds received on loans B575-05 & B649-05.
0.30 300.00 90.00
11/4/2016 James Armstrong Reviewed and processed distributions to investors with signed agreements.
0.40 300.00 120.00
11/7/2016 James Armstrong Reviewed and processed distributions to investors with signed agreements.
0.70 300.00 210.00
11/11/2016 James Armstrong Reviewed and processed distributions for proceeds received on loans B575-05 & B649-05.
0.20 300.00 60.00
Total for Task Code: 37.90300.0 11,370.00Loan / Property Analysis & Reconciliations - General
400.0 Claims AnalysisTask Code:
1/17/2016 James Armstrong Reviewed and updated the claim tracking database. 0.30 300.00 90.00
1/19/2016 James Armstrong Reviewed and updated the claim tracking database. 0.30 300.00 90.00
2/11/2016 James Armstrong Reviewed and updated the claim tracking database. 1.90 300.00 570.00
2/15/2016 James Armstrong Reviewed and updated the claim tracking database. 3.00 300.00 900.00
2/18/2016 James Armstrong Reviewed and updated the claim tracking database. 2.20 300.00 660.00
2/19/2016 James Armstrong Reviewed and updated the claim tracking database. 4.20 300.00 1,260.00
3/1/2016 James Armstrong Reviewed and updated the claim tracking database. 2.20 300.00 660.00
3/2/2016 James Armstrong Reviewed and updated the claim tracking database. 0.70 300.00 210.00
3/4/2016 James Armstrong Reviewed and updated the claim objections for signed settlement agreements.
1.70 300.00 510.00
3/11/2016 James Armstrong Reviewed and updated the claim objections for signed settlement agreements.
1.30 300.00 390.00
3/11/2016 James Armstrong Reviewed and updated the claim objections for investors with no open investments.
1.10 300.00 330.00
3/15/2016 James Armstrong Reviewed and discussed the claim objections with EFI counsel. 0.80 300.00 240.00
3/15/2016 James Armstrong Reviewed and updated the claim objections for signed settlement agreements.
0.70 300.00 210.00
3/17/2016 James Armstrong Reviewed and updated the claim tracking database. 0.70 300.00 210.00
3/29/2016 James Armstrong Reviewed and updated the claim tracking database. 2.10 300.00 630.00
4/4/2016 James Armstrong Reviewed and updated the claim objections for signed settlement agreements.
0.70 300.00 210.00
Page 6 of 12
054
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 54 of 85
DATE NAME DESCRIPTION HOURS RATE AMOUNT
Re: Estate Financial, Inc.
Service Rendered January 1, 2016 Through November 30, 2016
4/5/2016 James Armstrong Reviewed and updated the claim objections for signed settlement agreements.
1.50 300.00 450.00
4/7/2016 James Armstrong Reviewed and updated the claim objections for signed settlement agreements.
0.40 300.00 120.00
4/11/2016 James Armstrong Reviewed and analyzed remaining claims in the EFI estate. 0.30 300.00 90.00
4/12/2016 James Armstrong Reviewed and updated the claim objections for signed settlement agreements.
0.30 300.00 90.00
4/27/2016 James Armstrong Reviewed and analyzed remaining claims in the EFI estate. 1.20 300.00 360.00
4/28/2016 James Armstrong Reviewed and analyzed remaining claims in the EFI estate. 1.80 300.00 540.00
5/5/2016 James Armstrong Reviewed and updated the claim objections for signed settlement agreements.
0.60 300.00 180.00
5/12/2016 James Armstrong Reviewed and analyzed claims due to signed settlement agreements. 0.20 300.00 60.00
5/16/2016 James Armstrong Reviewed and analyzed the claims for lender L686. 0.50 300.00 150.00
5/19/2016 James Armstrong Reviewed and analyzed claims due to signed settlement agreements. 0.40 300.00 120.00
5/23/2016 James Armstrong Reviewed and analyzed claims due to signed settlement agreements. 0.30 300.00 90.00
6/14/2016 James Armstrong Reviewed and analyzed the claims filed for specific lenders. 2.60 300.00 780.00
6/24/2016 James Armstrong Reviewed and analyzed the claims filed for specific lenders. 1.10 300.00 330.00
6/30/2016 James Armstrong Reviewed and analyzed the claims filed for specific lenders. 0.30 300.00 90.00
7/8/2016 Vernon Calder Analyzed issues regarding determination of whether certain property tax claims have priority status.
0.20 500.00 100.00
8/4/2016 James Armstrong Reviewed and analyzed investor claims filed against EFI. 0.80 300.00 240.00
8/16/2016 James Armstrong Reviewed and analyzed investor claims filed against EFI. 2.10 300.00 630.00
8/18/2016 James Armstrong Reviewed and analyzed investor claims filed against EFI. 0.90 300.00 270.00
8/19/2016 James Armstrong Reviewed and analyzed investor claims filed against EFI. 0.80 300.00 240.00
9/8/2016 James Armstrong Reviewed and analyzed investor claims filed against EFI. 0.40 300.00 120.00
10/10/2016 James Armstrong Reviewed and analyzed investor claims filed against EFI. 0.40 300.00 120.00
10/28/2016 James Armstrong Reviewed and analyzed investor claims filed against EFI. 2.90 300.00 870.00
11/1/2016 James Armstrong Reviewed and analyzed investor claims filed against EFI. 1.90 300.00 570.00
11/2/2016 James Armstrong Reviewed and analyzed the EFMR claim amount against the EFI estate.
2.10 300.00 630.00
11/2/2016 James Armstrong Reviewed and analyzed investor claims filed against EFI. 0.30 300.00 90.00
11/2/2016 James Armstrong Reviewed and analyzed investor claims filed against EFI. 2.40 300.00 720.00
11/3/2016 James Armstrong Reviewed and analyzed investor claims filed against EFI. 2.60 300.00 780.00
11/9/2016 James Armstrong Reviewed and analyzed the EFMF claim amount against the EFI 2.10 300.00 630.00
11/15/2016 James Armstrong Reviewed and analyzed omnibus claims objections and updated tracking sheet.
2.00 300.00 600.00
11/17/2016 James Armstrong Reviewed and analyzed omnibus claims objections and updated tracking sheet.
1.40 300.00 420.00
11/20/2016 James Armstrong Reviewed and analyzed omnibus claims objections and updated tracking sheet.
2.00 300.00 600.00
Total for Task Code: 60.70400.0 18,250.00Claims Analysis
410.0 Plan and Disclosure StatementTask Code:
Page 7 of 12
055
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 55 of 85
DATE NAME DESCRIPTION HOURS RATE AMOUNT
Re: Estate Financial, Inc.
Service Rendered January 1, 2016 Through November 30, 2016
6/30/2016 Vernon Calder Analyzed issues regarding creation of Disputed Ownership Fund in conjunction with creation of Liquidating Trust.
0.10 500.00 50.00
Total for Task Code: 0.10410.0 50.00Plan and Disclosure Statement
610.0 Bryan Cave LitigationTask Code:
2/18/2016 Paul Shields Updated damage calculation and developed preliminary narrative. 3.30 500.00 1,650.00
2/19/2016 Paul Shields Prepared for and met with counsel and trustees regarding assessment of damages and disclosures.
1.70 500.00 850.00
2/22/2016 Paul Shields Reviewed damage model. 0.20 500.00 100.00
2/25/2016 James Armstrong Reviewed and analyzed issues related to the Bryan Cave Damages. 0.40 300.00 120.00
4/4/2016 Spencer Ferrero Reviewed and analyzed documents requested for review related to Bryan Cave litigation.
0.60 315.00 189.00
5/5/2016 James Armstrong Reviewed and analyzed investor detail for the Bryan Cave damage schedules.
2.30 300.00 690.00
5/9/2016 James Armstrong Reviewed and analyzed investor detail for the Bryan Cave damage schedules.
1.20 300.00 360.00
7/21/2016 James Armstrong Reviewed and analyzed document requests related to the Bryan Cave matter.
1.00 300.00 300.00
7/22/2016 James Armstrong Reviewed and analyzed document requests related to the Bryan Cave matter.
1.90 300.00 570.00
7/25/2016 James Armstrong Reviewed and discussed document requests related to the Bryan Cave matter.
0.90 300.00 270.00
7/25/2016 James Armstrong Reviewed and analyzed document requests related to the Bryan Cave matter.
0.90 300.00 270.00
7/27/2016 James Armstrong Reviewed and analyzed document requests related to the Bryan Cave matter.
1.10 300.00 330.00
8/23/2016 James Armstrong Reviewed and analyzed the Request for Admissions related to the Bryan Cave matter.
0.20 300.00 60.00
8/25/2016 James Armstrong Reviewed and discussed the Request for Admissions related to the Bryan Cave matter with the Trustee.
0.40 300.00 120.00
8/26/2016 James Armstrong Reviewed and analyzed the Request for Admissions related to the Bryan Cave matter.
2.10 300.00 630.00
8/26/2016 James Armstrong Reviewed and discussed the Request for Admissions related to the Bryan Cave matter with the Trustee.
1.50 300.00 450.00
8/29/2016 James Armstrong Reviewed and analyzed the Request for Admissions related to the Bryan Cave matter.
1.90 300.00 570.00
8/31/2016 James Armstrong Reviewed and analyzed the Request for Admissions related to the Bryan Cave matter.
0.60 300.00 180.00
9/6/2016 James Armstrong Reviewed and analyzed the request for admissions related to the Bryan Cave matter.
0.70 300.00 210.00
9/8/2016 James Armstrong Reviewed and analyzed the request for admissions related to the Bryan Cave matter with the Trustee.
0.20 300.00 60.00
9/20/2016 James Armstrong Reviewed and analyzed the request for admissions related to the Bryan Cave matter.
1.70 300.00 510.00
9/30/2016 Spencer Ferrero Reviewed and analyzed documents in preparation for Bryan Cave document production request
0.50 315.00 157.50
10/5/2016 Leif Larsen Analyzed historical tax records for 2007 through 2015 in order to secure documents requested by Bryan Cave.
1.50 435.00 652.50
10/11/2016 James Armstrong Reviewed and analyzed the request for admissions related to the Bryan Cave matter.
0.90 300.00 270.00
Page 8 of 12
056
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 56 of 85
DATE NAME DESCRIPTION HOURS RATE AMOUNT
Re: Estate Financial, Inc.
Service Rendered January 1, 2016 Through November 30, 2016
11/1/2016 James Armstrong Reviewed and analyzed the request for admissions related to the Bryan Cave matter.
1.80 300.00 540.00
11/10/2016 James Armstrong Reviewed and analyzed the request for admissions related to the Bryan Cave matter.
2.00 300.00 600.00
Total for Task Code: 31.50610.0 10,709.00Bryan Cave Litigation
700.0 General Tax Compliance / PlanningTask Code:
1/6/2016 Leif Larsen Analyzed records on hand and requested additional information needed for 2015 tax work.
0.20 435.00 87.00
1/8/2016 Leif Larsen Reviewed 2014 Forms 1099-S and requested additional information needed for the preparation of 2015 returns.
0.40 435.00 174.00
1/11/2016 James Armstrong Reviewed and analyzed disbursements to investors for the 1099-S. 2.50 300.00 750.00
1/11/2016 Leif Larsen Followed up on information needed for 2015 1099-S work. 0.40 435.00 174.00
1/14/2016 Leif Larsen Analyzed 2015 transaction ledgers and prepared required 2015 Forms 1099-Misc.
2.70 435.00 1,174.50
1/15/2016 Spencer Ferrero Reviewed and analyzed payees to send W-9 forms per tax department request.
0.20 315.00 63.00
1/15/2016 Leif Larsen Cleared review notes related to the 2015 1099 returns. 0.40 435.00 174.00
1/15/2016 Vernon Calder Analyzed 2015 financial activity in conjunction with preparation of IRS Form(s) 1099.
0.60 500.00 300.00
1/15/2016 Vernon Calder Reviewed 2015 IRS Form(s) 1099. 0.20 500.00 100.00
1/15/2016 Alec Swope Prepared W-9 request letter for mailing. 0.30 175.00 52.50
1/15/2016 Vernon Calder Reviewed corrections made to 2015 IRS Form(s) 1099. 0.20 500.00 100.00
1/17/2016 James Armstrong Reviewed and analyzed disbursements to investors for the 1099-S. 0.50 300.00 150.00
1/18/2016 James Armstrong Reviewed and analyzed disbursements to investors for the 1099-S. 1.90 300.00 570.00
1/18/2016 James Armstrong Reviewed and updated the schedule of 2015 disbursements for the 1099-S.
1.30 300.00 390.00
1/18/2016 Leif Larsen Reviewed 2015 transaction ledgers in order to identify required 1099-S recipients.
0.50 435.00 217.50
1/19/2016 James Armstrong Reviewed and updated the schedule of 2015 disbursements for the 1099-S.
1.40 300.00 420.00
1/19/2016 James Armstrong Reviewed and analyzed disbursements to investors for the 1099-S. 0.20 300.00 60.00
1/19/2016 Victoria Calder Analyzed 2015 transaction ledgers in conjunction with preparation of IRS Form(s) 1099.
0.30 80.00 24.00
1/20/2016 Vernon Calder Reviewed 2015 IRS Form(s) 1099S to be issued to recipients of real estate proceeds.
2.60 500.00 1,300.00
1/20/2016 Vernon Calder Reviewed corrections to 2015 IRS Form(s) 1099. 0.30 500.00 150.00
1/20/2016 Leif Larsen Prepared over 2015 Form(s) 1099-S. 3.80 435.00 1,653.00
1/21/2016 Leif Larsen Cleared review notes related to 2015 Form(s) 1099-S and corresponding work papers and updated Forms with new information received.
2.30 435.00 1,000.50
1/22/2016 Alec Swope Prepared and printed 1099's for mailing. 0.50 175.00 87.50
1/25/2016 Vernon Calder Verified corrections made to 2015 IRS Form(s) 1099S. 0.30 500.00 150.00
1/28/2016 Victoria Calder Analyzed 2015 transaction ledgers in conjunction with preparation of IRS form(s) 1099.
0.20 80.00 16.00
1/29/2016 Leif Larsen Reviewed 2015 1099-S files and instructed tax staff on preparation and distribution.
0.40 435.00 174.00
Page 9 of 12
057
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 57 of 85
DATE NAME DESCRIPTION HOURS RATE AMOUNT
Re: Estate Financial, Inc.
Service Rendered January 1, 2016 Through November 30, 2016
1/29/2016 Alec Swope Prepared 1099-S for mailing. 3.50 175.00 612.50
1/29/2016 Evelyn Perry Prepared 2015 Forms 1099-S for mailing. 3.40 155.00 527.00
2/2/2016 Leif Larsen Reviewed finalized 2015 1099s to ensure proper distribution. 0.20 435.00 87.00
2/10/2016 James Armstrong Reviewed and analyzed disbursements to investors for the 1099-S. 1.70 300.00 510.00
2/23/2016 Leif Larsen Reviewed 1099-S supporting work papers to ensure accuracy prior to electronically filing returns.
0.40 435.00 174.00
2/25/2016 Leif Larsen Electronically filed the 2015 Forms 1096/1099-S. 0.40 435.00 174.00
2/25/2016 Leif Larsen Electronically filed the 2015 Forms 1096/1099-Misc for EFI. 0.30 435.00 130.50
3/17/2016 Victoria Calder Prepared 2016 California minimum tax payment vouchers. 0.30 80.00 24.00
3/22/2016 Victoria Calder Prepared 2016 California minimum tax payment tax vouchers. 0.30 80.00 24.00
3/29/2016 Victoria Calder Prepared 2016 California minimum tax payment vouchers. 0.30 80.00 24.00
3/30/2016 Vernon Calder Reviewed request for 2016 California Minimum Tax payments. 0.10 500.00 50.00
3/30/2016 Victoria Calder Updated 2015 tax files with current information. 0.20 80.00 16.00
4/1/2016 Alec Swope Filed tax documents into corresponding folders. 0.70 175.00 122.50
4/4/2016 Leif Larsen Reviewed 2016 check requests and distributed to trustee's office. 0.20 435.00 87.00
4/7/2016 Victoria Calder Updated electronic tax files. 0.20 80.00 16.00
4/11/2016 Victoria Calder Updated California minimum tax payments. 0.20 80.00 16.00
6/28/2016 Leif Larsen Analyzed liquidating trust agreement and participated in conference call.
1.10 435.00 478.50
6/29/2016 Leif Larsen Prepared for and participated in conference call regarding liquidating trust agreement.
0.70 435.00 304.50
7/8/2016 Leif Larsen Analyzed property tax claims in order to determine status. 0.40 435.00 174.00
7/11/2016 Vernon Calder Reviewed tax research regarding requirement to issue Schedule K to S Corporation shareholders.
0.30 500.00 150.00
7/12/2016 Vernon Calder Performed tax research regarding a receiver's responsibility to file income tax returns. This analysis was done in conjunction with the question of to whom should Schedule K-1 from EFI be issued.
0.60 500.00 300.00
7/20/2016 Leif Larsen Prepared for and participated in conference call regarding ownership interest in EFI.
0.30 435.00 130.50
7/20/2016 Vernon Calder Discussed via telephone with Trustee regarding whether equity interest in EFI was transferred to Receiver.
0.20 500.00 100.00
7/20/2016 Spencer Ferrero Reviewed and analyzed QuickBooks to export 2015 financial data for tax return purposes
0.70 315.00 220.50
7/21/2016 Spencer Ferrero Reviewed and analyzed bank statements relating to loan servicing and construction accounts per tax department request.
0.20 315.00 63.00
7/22/2016 Spencer Ferrero Reviewed and analyzed loan servicing and construction account transactions to update corresponding QuickBooks per tax department.
1.70 315.00 535.50
8/31/2016 Vernon Calder Reviewed and approved correspondence to be provided to Josh Yaguda regarding issuance of Schedule K-1.
0.10 500.00 50.00
9/2/2016 Vernon Calder Analyzed IRS efile rejection. 0.10 500.00 50.00
Total for Task Code: 43.40700.0 14,662.50General Tax Compliance / Planning
710.0 Income Tax Return PreparationTask Code:
3/3/2016 Vernon Calder Reviewed 2015 IRS Form 7004, Application for Automatic Extension of Time to File Certain Business Income Tax Returns.
0.10 500.00 50.00
3/15/2016 Leif Larsen Prepared federal extension for filing. 0.20 435.00 87.00
Page 10 of 12
058
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 58 of 85
DATE NAME DESCRIPTION HOURS RATE AMOUNT
Re: Estate Financial, Inc.
Service Rendered January 1, 2016 Through November 30, 2016
7/20/2016 Leif Larsen Analyzed 2015 QuickBooks statements and prepared balance sheet and other supporting work papers to be used in conjunction with the preparation of the 2015 income tax returns.
2.50 435.00 1,087.50
7/21/2016 Leif Larsen Analyzed 2015 QuickBooks statements and prepared income statement and other supporting work papers to be used in conjunction with the preparation of the 2015 income tax returns.
2.30 435.00 1,000.50
7/22/2016 Leif Larsen Prepared additional supporting work papers to be used in conjunction with the preparation of the 2015 income tax returns.
1.60 435.00 696.00
7/22/2016 Leif Larsen Analyzed 2015 general ledgers and prepared analysis of gross receipt and reconciliation schedules to reconcile with income reported.
2.90 435.00 1,261.50
7/26/2016 Leif Larsen Prepared the 2015 federal income tax return. 2.70 435.00 1,174.50
7/27/2016 Leif Larsen Reviewed and referenced the 2015 income tax returns and supporting work papers.
1.90 435.00 826.50
7/27/2016 Leif Larsen Prepared the 2015 California income tax return. 2.20 435.00 957.00
8/11/2016 Vernon Calder Reviewed 2015 income tax returns and related tax file. 2.00 500.00 1,000.00
8/11/2016 Leif Larsen Cleared review notes related to the 2015 income tax returns. 1.60 435.00 696.00
8/12/2016 Vernon Calder Verified clearance of review notes on 2015 income tax returns and related tax file.
0.80 500.00 400.00
8/12/2016 Leif Larsen Made revisions to required footnotes included in the 2015 EFI income tax returns.
0.70 435.00 304.50
8/15/2016 Victoria Calder Prepared 2015 tax return to send to taxing authorities. 1.40 80.00 112.00
8/15/2016 Vernon Calder Performed final review and signed 2015 income tax returns. 0.30 500.00 150.00
8/16/2016 Evelyn Perry Sent tax returns to trustee. 0.20 155.00 31.00
8/25/2016 Katherine McKee Prepared and mailed tax returns to taxing authorities. 0.40 95.00 38.00
8/31/2016 Katherine McKee Prepared and mailed tax returns to taxing authorities. 0.20 95.00 19.00
8/31/2016 Vernon Calder Finalized 2015 income tax returns. 0.10 500.00 50.00
9/1/2016 Leif Larsen Electronically filed the 2015 EFI income tax returns and reviewed diagnostic failures.
0.50 435.00 217.50
9/2/2016 Vernon Calder Discussed via telephone with Tom Jeremiassen regarding IRS rejection of efiled 2015 tax return. Discussed need to paper file the tax return.
0.10 500.00 50.00
9/6/2016 Victoria Calder Prepared 2015 tax return to send to taxing authorities. 1.00 80.00 80.00
9/13/2016 Katherine McKee Prepared and mailed tax returns to taxing authorities. 0.20 95.00 19.00
Total for Task Code: 25.90710.0 10,307.50Income Tax Return Preparation
920.0 Fee Application PreparationTask Code:
1/7/2016 James Armstrong Reviewed and analyzed data for the ninth interim fee application. 1.80 300.00 540.00
1/14/2016 James Armstrong Reviewed and analyzed data for the ninth interim fee application. 1.50 300.00 450.00
1/17/2016 James Armstrong Reviewed and analyzed data for the ninth interim fee application. 2.50 300.00 750.00
1/18/2016 Leif Larsen Reviewed time entry descriptions and prepared tax narrative for upcoming fee application.
1.40 435.00 609.00
1/18/2016 James Armstrong Reviewed and analyzed data for the ninth interim fee application. 1.70 300.00 510.00
1/19/2016 James Armstrong Reviewed and analyzed data for the ninth interim fee application. 0.30 300.00 90.00
1/19/2016 Vernon Calder Reviewed and revised Ninth Interim Fee Application. 1.50 500.00 750.00
1/19/2016 Vernon Calder Reviewed, revised and signed Ninth interim fee application. 0.60 500.00 300.00
Page 11 of 12
059
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 59 of 85
DATE NAME DESCRIPTION HOURS RATE AMOUNT
Re: Estate Financial, Inc.
Service Rendered January 1, 2016 Through November 30, 2016
Total for Task Code: 11.30920.0 3,999.00Fee Application Preparation
932.5 Investor Communications / InquiriesTask Code:
10/8/2016 James Armstrong Reviewed and responded to request for information from investors. 0.60 300.00 180.00
10/17/2016 Spencer Ferrero Correspondence with Winnojean Eberle regarding status of distribution check.
0.40 315.00 126.00
Total for Task Code: 1.00932.5 306.00Investor Communications / Inquiries
Total Professional Services 267.70 86,722.50
Page 12 of 12
060
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 60 of 85
061
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 61 of 85
- Estate Financial - Accountant to the TrusteeJanuary 1, 2016 - November 20, 2016
Expense Category Amount
Data Retieval 26.80$ Parking 18.75 Postage 233.30 Shipping 20.94
Total Expenses Due 299.79$
BRG, LLC Fed ID No. 27-1451273
062
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 62 of 85
063
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 63 of 85
DATE NAME DESCRIPTION AMOUNT
Re: Estate Financial, Inc.
Expenses from January 1, 2016 Through November 30, 2016
Data Retrieval CATEGORY:
4/14/2016 BRG TLO Research 10.00
6/22/2016 BRG TLO Research 1.00
7/21/2016 BRG TLO Research 1.00
8/4/2016 BRG TLO Research 2.00
10/14/2016 BRG CCH Research 12.80
26.80Data RetrievalTOTAL:
Express Messenger/Shipping CATEGORY:
8/31/2016 BRG Shipping - FedEx 10.50
9/22/2016 BRG Shipping - FedEx 10.44
20.94Express Messenger/ShippingTOTAL:
Postage CATEGORY:
1/31/2016 BRG Postage 0.96
1/31/2016 BRG Postage 209.04
8/31/2016 BRG Postage 0.94
8/31/2016 BRG Postage 1.88
8/31/2016 BRG Postage 20.48
233.30PostageTOTAL:
Travel - Parking CATEGORY:
2/29/2016 BRG Parking 18.75
18.75Travel - ParkingTOTAL:
299.79TOTAL EXPENSES
Page 1 of 1
064
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 64 of 85
065
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 65 of 85
9/21/2015 www.thinkbrg.com Page 1 of 3
Vernon L. Calder, Managing Director 201 South Main Street, Suite 450 Salt Lake City, UT 84111 Direct: 801.321.0053 Fax: 801.364.6230 Email: [email protected] Summary Vernon L. Calder, a Director with Berkeley Research Group (“BRG”), has over thirty years of experience in public accounting specializing in tax services. Mr. Calder is a Certified Public Accountant (CPA) and a Certified Insolvency and Reorganization Advisor (CIRA). For the last over twenty years he has specialized in bankruptcy tax compliance and planning. Prior to joining BRG Vernon was a director of LECG, LLC (“LECG”), which acquired Neilson Elggren LLP (“NE”) in 2005. Prior to the acquisition of NE by LECG, Mr. Calder was the Partner-in-Charge of the tax practice of Neilson Elggren LLP. Prior to joining NE Mr. Calder was a Sr. Manager and tax consultant for Arthur Andersen; a Sr. Manager for Neilson Elggren Durkin & Company; a Manager for the international accounting firms of Ernst & Young; and a Senior Tax Consultant for Touche Ross & Co. Mr. Calder has provided a wide variety of tax services to clients throughout his career. His efforts have focused on special tax issues in corporate, partnership and individual bankruptcy, formation of and tax compliance for liquidating trusts; representation of taxpayers before federal and state taxing authorities; tax consulting with regard to “change of ownership” issues; tax consulting and compliance for U.S. companies operating internationally; tax consulting and compliance for corporations with multi-state income using “water’s edge” method; analysis of deductible ordinary and necessary business expenses; and supervising tax compliance for high technology companies. Mr. Calder’s clients have included companies ranging in size from $1 billion in annual sales to small development companies in many industries such as computer and peripherals, software, semiconductors, life sciences, energy, hospitality, professional sports and automotive parts rebuilders. In addition, he has provided tax services to a variety of clients including individuals, corporations, partnerships, decedent estates, trusts, and bankruptcy estates. Services rendered include tax compliance, representation before taxing authorities, bankruptcy court appearances, testifying as an expert witness, and tax consulting and planning. Mr. Calder has been a featured speaker at many firm sponsored seminars covering special bankruptcy tax issues, new tax legislation and general tax concepts. He has written numerous articles and other publications.
066
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 66 of 85
9/21/2015 www.thinkbrg.com Page 2 of 3
Case Examples
Estate Financial, Inc. – Responsible for tax compliance and consulting. Consulted with investors regarding deduction of theft losses in specified fraudulent arrangements.
Cedar Funding, Inc. – Responsible for tax compliance and consulting. Consulted with investors regarding deduction of theft losses in specified fraudulent arrangements.
Le*Nature’s, Inc. – Represented trustee in defending IRS examination of prepetition tax liabilities. Successful in eliminating prepetition tax claim in excess of $30 million. Responsible for tax compliance and consulting.
Mike Tyson Bankruptcy Estate – Responsible for defending IRS examination of prepetition tax years. Responsible for tax compliance and tax consulting.
Reed Slatkin Bankruptcy Estate – Responsible for all tax compliance and tax consulting work. Represented trustee in defending IRS examination of prepetition tax liabilities of the debtor. Extensive involvement in formation of Liquidating Trust created pursuant to Chapter 11 Plan of Reorganization.
JMS Automotive – Rebuilder of Automotive Parts – Responsible for all tax compliance and tax consulting work. Represented trustee in defending IRS examination of pre-petition tax liabilities of the debtor.
Bonneville Pacific Corporation--Geothermal Energy Corporation. Responsible for all tax compliance and tax consulting work. Extensive involvement in disposition of subsidiary stock.
Holder’s Capital Corporation--Ownership and management of hotels. Responsible for tax planning relating to restructuring of affiliated groups of corporations. Extensive work with provisions relating to taxation of affiliated groups. Represented Trustee in defending Internal Revenue Service examination of administrative tax liability.
Property Mortgage Company, Inc.—Private mortgage company. Responsible for all tax compliance and tax consulting for several corporations and real estate partnerships.
Bankruptcy--Responsible for tax compliance and tax consulting for various bankruptcies. Individual, partnership, and corporate. Advise trustees and attorneys concerning bankruptcy tax issues. Provide testimony in bankruptcy court.
Various individuals--Tax Compliance, advisor and Taxpayer Advocate. Supervised tax compliance work for many top-level executives. Taxpayer advocate before IRS in attempt by the IRS to garnish wages for delinquent taxes.
067
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 67 of 85
9/21/2015 www.thinkbrg.com Page 3 of 3
Industry Experience
Aviation Automotive
Real Estate Construction
Agricultural Energy
Restaurant Transportation
Convenience Store/Gas Retail Legal and accounting
Amusement and Recreation Services Security and Commodity Brokers
Healthcare Insurance Carriers
Electronic and Other Electrical Equipment Insurance Agents and Brokers
Telecommunications Furniture and Fixtures
Online Retailing Technology
Education
Bachelor of Science, Brigham Young University Master of Accountancy/Taxation, Brigham Young University
Professional Memberships
Certified Fraud Examiner Association of Insolvency and Restructuring Advisors American Bankruptcy Institute American Institute of Certified Public Accountants Utah Association of Certified Public Accountants National Association of Bankruptcy Trustees
Instruction, Presentations & Publications
Mr. Calder has provided instruction on the subject of taxation of bankruptcy estates at conferences for the American Bankruptcy Institute, the Association of Insolvency and Restructuring Advisors, and the Mississippi Bankruptcy Conference, Inc.
Co-author of 2005 Bankruptcy Revision, Implications for Business and Financial Advisors published jointly by the American Institute of Certified Public Accountants and the Association of Insolvency and Restructuring Advisors in 2005.
068
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 68 of 85
Page 1 of 3
Paul N. Shields, Managing Director 201 South Main Street, Suite 450 Salt Lake City, UT 84111 Direct: 801.321.0073 Mobile: 801.550.5933 Email: [email protected] Summary Paul N. Shields is a Managing Director at Berkeley Research Group. He has over twenty years of experience as a financial analyst and valuation expert. His professional designations include Chartered Financial Analyst (CFA), Certified Public Accountant (CPA), Certification in Distressed Business Valuation (CDBV), and Accredited in Business Valuation (ABV). Mr. Shields has expertise in business valuation, damage assessments and the evaluation of earnings capacity – particularly in the context of financial distress and bankruptcy. Mr. Shields has performed numerous solvency studies, and has evaluated business interests and assets for corporate reorganizations and distressed sales. He has performed services in the context of state‐court receiverships and as a special master and mediator, and has testified in federal and state courts on numerous occasions. Case Examples
Bankruptcy Estate of Vickie Lynn Marshall (a/k/a Anna Nicole Smith) – Supervised the valuation of Koch Industries, Inc., the second largest closely held business in the United States. The valuation was performed to assist counsel representing Ms. Marshall in her litigation against E. Pierce Marshall, the son of J. Howard Marshall II.
The IT Group, Inc. – Assessed the reorganization value of The IT Group for purposes of plan confirmation. At the time, The IT Group had annual revenues in excess of $1.3 billion and was a leading provider of diversified environmental consulting, engineering, construction, remediation, and facilities management services.
Bonneville Pacific Corporation – Assisted in supervising the damage study involving a bankrupt independent power producer. Responsibilities included tracing funds and analyzing transactions in excess of $5.5 billion over a six‐year period.
Webvan Group, Inc. – Supervised the solvency analysis of a leading online e‐grocer. Funding received by the company from public and private sources exceeded $800 million. The solvency analysis was performed in the context of avoidance actions.
Vann’s, Inc. – Assessed the solvency of, and evaluated alleged damages incurred by, a consumer electronics retailer with annual revenue in excess of $100 million. The solvency analysis was performed in the context of avoidance actions.
069
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 69 of 85
Page 2 of 3
Case Examples (Continued)
Arthur D. Little, Inc. – Supervised the solvency analysis of an international technology and management consulting firm with annual revenues in excess of $450 million. The solvency analysis was performed in the context of avoidance actions.
JD Services, Inc. – Assessed the solvency of a full‐service prepaid long distance phone company. The company’s annualized revenues were in excess of $100 million. The solvency analysis was performed in the context of avoidance actions.
Case Name Withheld – Performed services as a consulting expert in the context of a contested, leveraged transaction. At issue, among other things, was the solvency of the combined entities subsequent to a leveraged transaction.
Calcor Space Facility, Inc. – Assessed the solvency of an aircraft parts manufacturer. The company’s annual revenues were approximately $50 million. The solvency analysis was performed in the context of avoidance actions.
G.I. Industries, Inc. – Assessed the reorganization value of Conejo Enterprises, Inc., a wholly owned subsidiary of G.I. Industries, Inc., for purposes of plan confirmation. Conejo Enterprises, Inc. was a solid waste disposal company with annual revenues of $17 million.
Case Name Withheld – Prepared the valuation of a grocery store chain with annual revenues in excess of $100 million.
Case Name Withheld – Prepared the valuation of an aftermarket auto parts distributor with annual revenues of approximately $70 million.
Case Name Withheld – Prepared the valuation of a mechanical contractor with annual revenues in excess of $50 million.
Michael Gerard “Mike” Tyson – Prepared the valuation of assets transferred to a liquidation trust in accordance with IRS Revenue Procedure 94‐45 in the context of a bankruptcy proceeding.
Le‐Nature’s, Inc. – Prepared the valuation of assets transferred to a liquidation trust in accordance with IRS Revenue Procedure 94‐45 in the context of a bankruptcy proceeding.
Case Name Withheld – Appointed by the court as independent accountant. Responsibilities included securing trust assets, selling real property, effectuating a distribution to trust beneficiaries, and providing an accounting of prior trust activity.
070
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 70 of 85
Page 3 of 3
Education Bachelor of Arts in Accounting, University of Utah Master of Business Administration, University of Utah Professional Memberships CFA Institute Association of Insolvency and Restructuring Advisors American Bankruptcy Institute American Institute of Certified Public Accountants Utah Association of Certified Public Accountants Instruction, Presentations & Publications
Mr. Shields has provided instruction on valuation in the context of financial distress and bankruptcy at conferences for the American Bankruptcy Institute, the Association of Insolvency and Restructuring Advisors, the American Institute of Certified Public Accountants, and the Utah Association of Certified Public Accountants. Co‐author of Business Valuation in Bankruptcy, a Consulting Services Practice Aid published by the American Institute of Certified Public Accountants in 2002.
071
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 71 of 85
9/21/2015 www.thinkbrg.com Page 1 of 2
Leif M. Larsen, Senior Managing Consultant
201 South Main Street, Suite 450 Salt Lake City, UT 84111 Direct: 801.321.0080 Fax: 801.364.6230 Email: [email protected] Summary Leif M. Larsen, a Senior Managing Consultant with Berkeley Research Group, LLC has over seventeen years experience in tax return preparation. Prior to working at Berkeley Research Group, LLC he was with LECG, LLC, working as Senior Managing Consultant and prior to that he was with Neilson Elggren, LLP, working as a Tax Manager. Mr. Larsen is a Certified Public Accountant and is an Enrolled Agent. Mr. Larsen is also a Certified Insolvency Restructuring Advisor. His experience also includes all areas of payroll taxes and sales & use taxes, including return preparation. A few of the cases in which Mr. Larsen has been involved include:
Le-Nature’s, Inc. – Accountants to the Trustee. Prepared original and amended corporate income tax returns and numerous information returns for related entities. Analyzed the many tax issues relating to the formation of a Liquidating Trust pursuant to the plan confirmation. Also prepared Liquidating Trust returns having over four hundred beneficiaries and prepared and maintained databases to track all pertinent beneficiary information.
Leslie Todd Bankruptcy Estate – Accountants to the Trustee. Prepared initial and final fiduciary tax returns for Individual bankruptcy case. Analyzed treatment of settlement proceeds received from breach of contract related to sale of debtors business to an outside party.
Reed Slatkin – Accountants to the Trustee. Prepared individual and S Corporation tax returns and numerous information returns for pass through entities, including Partnerships, and LLCs. Analyzed the many tax issues relating to the formation of a Liquidating Trust pursuant to the plan confirmation. Also prepared Liquidating Trust returns having over three hundred beneficiaries and prepared and maintained databases to track all pertinent beneficiary information.
Metropolitan Mortgage & Securities Co., Inc. – Accountants to the Trustee. Prepared consolidated income tax returns and prepared Liquidating Trust returns having over seven thousand beneficiaries.
National Summit Corporation – Accountants to the Trustee. Prepared consolidated income tax returns and prepared Liquidating Trust returns having over two thousand beneficiaries.
Michael G. Tyson – Accountants to the Debtor in Possession. Prepared individual and S Corporation tax returns. Also prepared Liquidating Trust returns having over one hundred beneficiaries and prepared and maintained databases to track all pertinent beneficiary information.
JMS Automotive Rebuilders, Inc. – Accountants to the Trustee. Analyzed many tax documents relating to the Internal Revenue Service’ audit of multiple tax years. Prepared corporate tax return.
072
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 72 of 85
9/21/2015 www.thinkbrg.com Page 2 of 2
Webvan Group, Inc. and Subsidiaires – Accountants to the Trustee. Prepared consolidatedcorporate tax returns which included assets of over one billion dollars.
Licenses & Certifications
Certified Public Accountant – Licensed in the state of California Enrolled Agent – Internal Revenue Service Certified Insolvency & Restructuring Advisor - Association of Insolvency and Restructuring Advisors
Education
Bachelor of Science in Accounting, University of Utah
Professional Memberships
California Society of CPAs American Institute of Certified Public Accountants Association of Insolvency and Restructuring Advisors American Bankruptcy Institute
Employment History
2011 – Present Berkeley Research Group, LLC Senior Managing Consultant (2011 – Present)
2005 – 2011 LECG, LLC Senior Managing Consultant (2011 – 2011) Managing Consultant (2007 – 2010) Consultant (2005 - 2006)
2001 – 2005 Neilson Elggren LLP Manager (2005) Experienced Senior (2002 - 2005) Senior (2000 – 2001)
1996 – 2001 Interwest Business Group, Inc. Manager (1999 - 2001) Staff Accountant (1996 – 1998)
073
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 73 of 85
10/19/2015 www.thinkbrg.com Page 1 of 2
Spencer G. Ferrero, Consultant 2049 Century Park East Suite 2525 Century City, CA 90067 Phone: 310-499-4742 Fax: 310-557-8982 Email: [email protected] Summary Spencer G. Ferrero is a Consultant at Berkeley Research Group, LLC (BRG) in the Century City, California office. Mr. Ferrero has eight years of experience providing services in bankruptcy, forensic and investigative accounting, litigation support and business valuation. Mr. Ferrero has been involved in chapter 11 and chapter 7 bankruptcy cases, providing accounting services to chapter 11 and 7 trustees, independent examiners and to the official committee of unsecured creditors. His experience includes claims analyses, solvency analyses, pre- and post-petition transfer analyses and the tracing of funds to prepare for avoidance action litigation. Case Examples
In re Ezri Namvar and In re Namco Capital Group, Inc. – Accountants and financial advisors to both the chapter 11 trustees of both bankruptcy estates. A well-known member of the Iranian Jewish community in Los Angeles received $3 billion in investments and loans over
five years and disbursed those funds through close to 400 separate LLC’s holding a wide array of assets such as hotels, golf courses, low-income housing projects, pistachio farms, conference center sites, medical buildings and ground leases. Mr. Ferrero has worked to
untangle the financial and business relationships among this multitude of inter-related LLC’s.
In re Galleria USA, Inc. (“GUSA”) – Accountants and financial advisors to the chapter 11
trustee. GUSA was an importer of furniture for “big box” retailers. GUSA, along with its sister company in Asia, had collective obligations to their secured and unsecured creditors totaling approx. $233 million. Mr. Ferrero assisted in the liquidation of inventory and the investigation
of fraud related to the loan collateral and inflated sales. The chapter 11 trustee released a detailed accounting report based on this investigation, which ultimately led to the indictment of the two principals of the debtor.
In re Estate Financial, Inc. - Accountants and financial advisors to the chapter 11 trustee.
Estate Financial was a “hard money lender” that solicited investments for, and arranged and made, real estate secured loans. At the time of the bankruptcy filing, the loan portfolio consisted of nearly 550 loans, all of which were in default, totaling approximately $350 million
funded by over 2,000 investors. Mr. Ferrero assisted in the ongoing liquidation of the loans or properties securing the loans and also accounted for the received proceeds.
074
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 74 of 85
10/19/2015 www.thinkbrg.com Page 2 of 2
Other Engagements Turner Gas vs. Mark Harris, Kamps Company, et al – Litigation Support In re Le-Nature's, Inc. – Accountants to the Trustee BHE Group Inc. and GBM International, Inc. v. MTS Products – Litigation Support In re Peck/Jones Construction – Accountants to the Trustee In re Reed Slatkin – Accountants to the Trustee In re Death Row Records – Accountants to the Trustee In re Hiuka America – Accountants to the Trustee In re Cedar Funding, Inc. – Accountants to the Trustee In re David Prenatt – Accountants to the Trustee Wells Fargo & Company, et al vs. United States of America – Litigation Support Employment History March 2011 – Present Berkeley Research Group, LLC Associate, Senior Associate, Consultant September 2007 – February 2011 LECG, LLC
Intern, Research Analyst, Associate
Education Masters of Accounting University of Utah, Salt Lake City, Utah Bachelor of Arts in Accounting University of Utah, Salt Lake City, Utah Licenses & Certifications Certified Public Accountant –California Certified Fraud Examiner (CFE) Certified Insolvency and Restructuring Advisor (CIRA) Certified in Financial Forensics (CFF) Professional Memberships American Bankruptcy Institute American Institute of Certified Public Accountants Association of Certified Fraud Examiners Association of Insolvency and Restructuring Advisors California Society of Certified Public Accountants Awards Zolfo Cooper/Randy Waits CIRA Bronze Medal, 2012
075
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 75 of 85
James Armstrong Updated 12/8/2014 Page 1 of 1
James Armstrong, Consultant 2021 NE Alberta St. Portland, OR 97211 Direct: (310) 499-4932 Office: (310) 499-0997 Email: [email protected]
Summary James Armstrong is a Consultant in the Portland, Oregon office of Berkeley Research Group, LLC (BRG), where he uses his knowledge in economics, accounting and finance to conduct research and analyses related to bankruptcy, forensic accounting, and securities litigation cases. Before joining BRG, Mr. Armstrong began his career as a financial advisor with Ameriprise Financial Services where he provided flexible and ongoing financial advice and comprehensive planning.
Case Examples
Estate Financial, Inc o Conducted the review and analysis of loan documentation and transactional data
related to the servicing of over 500 construction loans. o Oversaw the allocation and distribution of proceeds from the sale of assets. o Created analysis tools to determine damage estimates for multiple time periods prior
to the bankruptcy.
Estate Financial Mortgage Fund o Reconciled the cash transactions of a multimillion dollar funds used to finance
construction loans across Central and Southern California.
Le-Natures o Assisted with a large scale database project to combine transactional data in
Microsoft Access with soft copy backup documentation housed in a Concordance database.
Diversified Lending Group / Yellowstone Mountain Club / Others o Oversaw the extraction of transactional accounting data from hard copy statements
into an electronic database format.
Education MBA, Marylhurst University, 2009 BS, Economics, University of Oregon, 2006
Present Position BRG, Senior Associate, Consultant, 2011 to present
Other Positions Held LECG, Associate, 2006 to 2011 Ameriprise Financial Services, Vancouver, Washington, Financial Advisor, 2006–2006 Associated Students, University of Oregon, Eugene, Oregon, Controller, 2005–2006
076
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 76 of 85
7/20/2015 www.thinkbrg.com Page 1 of 1
Laura J. Kramer, Senior Associate 2049 Century Park East Suite 2525 Century City, CA 90067 Phone: 310-499-4716 ext 4716 Fax: 310-557-8982 Email: [email protected] Summary Laura Kramer is an Associate at Berkeley Research Group, LLC (BRG). Ms. Kramer joined BRG in July 2013. Prior to employment at BRG, Ms. Kramer graduated from Loyola Marymount University with a Bachelor’s of Science in Accounting. Ms. Kramer has over a year of experience providing services in bankruptcy, forensic accounting, and litigation support. Ms. Kramer has been involved in chapter 11 and chapter 7 bankruptcy cases, providing accounting services to chapter 11 and chapter 7 trustees, independent examiners and to the official committee of unsecured creditors. Her experience includes claims analyses, post-petition transfer analyses and the liquidation of assets. Case Examples
In re Ezri Namvar and In re Namco Capital Group, Inc. – Accountants and financial advisors to both
the chapter 11 trustees of both bankruptcy estates. A well-known member of the Iranian Jewish
community in Los Angeles received $3 billion in investments and loans over five years and disbursed
those funds through close to 400 separate LLC’s holding a wide array of assets such as hotels, golf
courses, low-income housing projects, pistachio farms, conference center sites, medical buildings and
ground leases. Mr. Troszak has worked to untangle the financial and business relationships among this
multitude of inter-related LLC’s. Other Engagements
In re Reed Slatkin – Accountants to the Trustee
In re Death Row Records – Accountants to the Trustee
In re GGW Brands, LLC et al. – Accountants to the Chapter 11 Trustee
In re Ray Gonzales – Accountants to the Chapter 11 Trustee
In re The Tulving Company, Inc. a Corporation – Accountants to the Chapter 7 Trustee Employment History July 2013 – Present Berkeley Research Group, LLC Associate Education Bachelor of Science in Accounting Loyola Marymount University, Los Angeles, CA
077
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 77 of 85
www.thinkbrg.com Page 1 of 1
Alec Swope, Summer Associate
201 South Main Suite 450 Salt Lake City, Utah 84111 Main: 801.364.6233 Fax: 801.355.9926 Email: [email protected]
Summary
Alec Swope is a Summer Associate at BRG, LLC. He has provided support services related to bankruptcy cases including tax services and financial analyses. His responsibilities have included researching and analyzing financial and non-financial tax data, analysis of monthly operating reports and assistance with accounting investigations.
Case Examples
Ezri Namvar Bankruptcy Estate – Accountants to the Trustee Castle Arch Legacy Trust – Accountants to the Trustee Archdiocese of Milwaukee – Financial Advisors to the Official Committee of Unsecured Creditors
Industry Experience
Legal Financial Manufacturing
Employment History
Summer 2015 BRG, LLC Summer Associate
Summer 2015 Deloitte Summer Leadership Conference Participant
2014 – 2015 ESL Writing Lab – Brigham Young University Writing Tutor
2013 – 2014 NorthStar Alarm Services Advertising Director
Education
Brigham Young University, Provo, UT, Bachelor of Science in Accountancy
078
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 78 of 85
8/15/2011 www.brg-expert.com Page 1
Evelyn S. Perry, Paraprofessional 201 South Main Street, Suite 450 Salt Lake City, Utah 84111 Direct: 801.321.0082 Fax: 801.364.6230 Email: [email protected] Summary Evelyn Perry is a member of Berkeley Research Group, LLC (“BRG”) with over twenty-three years experience in the areas of Bankruptcy and Tax. Prior to joining BRG she was with LECG LLC, Neilson Elggren LLP, Arthur Andersen LLP in the Global Corporate Finance division and Neilson Elggren Durkin & Company. Evelyn’s responsibilities include the preparation and submission of fee application pleadings to the bankruptcy court as well assisting with assembly and submission of tax returns. Other responsibilities include reconciliation and assembly of billings to litigation, tax and other clients, reconciliation of client bank accounts and related support duties assisting professionals.
Case Examples Several of the cases in which Evelyn has been involved include: • Kenetech Windpower - Engagement wherein the firm represents the creditors committee in the
ongoing litigation of the largest windpower manufacturer in the United States. • Death Row Records—Trustee and Accountants to the Trustee. • LeNature — Accountants to the Trustee. • Robert B. Solomon – Chapter 11 Debtor-in-possession. • Estate Financial – Accountants to the Trustee. . • Reed E. Slatkin (One of California’s largest ponzi schemes) -Accountants to the Trustee. • Adelphia – Forensic Accountants to the Creditor Committee. Education Ricks College, Associates Degree in Business Education
079
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 79 of 85
Kathy McKee, Paraprofessional 201 South Main Street, Suite 450 Salt Lake City, Utah 84111 Direct: 801.321.6333 Fax: 801.364.6230 Email: [email protected] Summary Kathy McKee is a member of Berkeley Research Group with over ten years experience in the areas of litigation support such as personal injury, Intellectual property and forensic accounting. She has performed adversary proceeding services, assisted in litigation matters and has been involved in major cases requiring document control, indexing and research of related documents. Case Examples A few of the cases in which Ms. McKee has been involved include:
• Suncrest – Case Assistant
• Abraham –- Case Assistant
• Brzowski Plastic Surgery – Case Assistant
• Owner Operator Independent Driver Association – Case Assistant
• Columbia Sportswear North American, Inc. – Case Assistant
• Mears – Case Assistant
• New School District Transition Team – Case Assistant
• William James Del Biaggio - Case Assistant
Education Salt Lake Community College, Business and Accounting Ashford University, Business Administration
080
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 80 of 85
09/09/15 www.thinkbrg.com Page 1 of 1
Victoria Calder, Summer Intern
201 South Main Street, Suite 450
Salt Lake City, Utah 84111
Phone: 801-321-6637
Fax: 801-335-9926
Summary
Victoria Calder is a member of Berkeley Research Group, LLC (“BRG”) in the Salt Lake City office. Prior to joining BRG she graduated from Morgan High School. She will attend BYU – Idaho in the fall of 2015. Employment History June 2015 – Present Berkeley Research Group, LLC Summer Intern Education Bachelor Degree – In Progress Bringham Young Univeristy – Idaho, Rexburg, ID
081
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 81 of 85
082
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 82 of 85
Berkeley Research Group, LLC (“BRG”)
Schedule of Billing Rates
2016
Position Rate
Director
Senior Managing Consultant
Consultant
Associate
Summer Associates
$510 – 695
$385 – 420
$280 – 315
$200 – 265
$70 -- 175
083
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 83 of 85
This form is mandatory. It has been approved for use by the United States Bankruptcy Court for the Central District of California.
June 2012 F 9013-3.1.PROOF.SERVICE DOCS_LA:273999.1 46346/001
PROOF OF SERVICE OF DOCUMENT I am over the age of 18 and not a party to this bankruptcy case or adversary proceeding. My business address is: Pachulski Stang Ziehl & Jones LLP, 10100 Santa Monica Blvd., 13th Floor, Los Angeles, CA 90067 A true and correct copy of the foregoing document entitled (specify): TENTH INTERIM AND FINAL APPLICATION OF BERKELEY RESEARCH GROUP, LLC FOR COMPENSATION AND REIMBURSEMENT OF EXPENSES AS ACCOUNTANTS TO THOMAS P. JEREMIASSEN, CHAPTER 11 TRUSTEE; DECLARATION OF VERNON CALDER; DECLARATION OF THOMAS P. JEREMIASSEN, TRUSTEE, IN SUPPORT THEREOF will be served or was served (a) on the judge in chambers in the form and manner required by LBR 5005-2(d); and (b) in the manner stated below: 1. TO BE SERVED BY THE COURT VIA NOTICE OF ELECTRONIC FILING (NEF): Pursuant to controlling General Orders and LBR, the foregoing document will be served by the court via NEF and hyperlink to the document. On (date) January 25, 2017, I checked the CM/ECF docket for this bankruptcy case or adversary proceeding and determined that the following persons are on the Electronic Mail Notice List to receive NEF transmission at the email addresses stated below: Service information continued on attached page 2. SERVED BY UNITED STATES MAIL: On January 25, 2017, I served the following persons and/or entities at the last known addresses in this bankruptcy case or adversary proceeding by placing a true and correct copy thereof in a sealed envelope in the United States mail, first class, postage prepaid, and addressed as follows. Listing the judge here constitutes a declaration that mailing to the judge will be completed no later than 24 hours after the document is filed. David W. Meadows 1801 Century Park East, Ste.1235 Los Angeles, CA 90067
Service information continued on attached page 3. SERVED BY PERSONAL DELIVERY, OVERNIGHT MAIL, FACSIMILE TRANSMISSION OR EMAIL (state method for each person or entity served): Pursuant to F.R.Civ.P. 5 and/or controlling LBR, on (date) January 25, 2017, I served the following persons and/or entities by personal delivery, overnight mail service, or (for those who consented in writing to such service method), by facsimile transmission and/or email as follows. Listing the judge here constitutes a declaration that personal delivery on, or overnight mail to, the judge will be completed no later than 24 hours after the document is filed. By Federal Express The Honorable Peter Carroll United States Bankruptcy Court Central District of California 1415 State Street Santa Barbara, CA 93101 Service information continued on attached page I declare under penalty of perjury under the laws of the United States that the foregoing is true and correct. January 25, 2017 Myra Kulick /s/ Myra Kulick Date Printed Name Signature
084
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 84 of 85
This form is mandatory. It has been approved for use by the United States Bankruptcy Court for the Central District of California.
June 2012 F 9013-3.1.PROOF.SERVICE DOCS_LA:273999.1 46346/001
Mailing Information for Case 9:08-bk-11457-PC
1. TO BE SERVED BY THE COURT VIA NOTICE OF ELECTRONIC FILING (NEF): Mark Bradshaw [email protected],
[email protected];[email protected] Martin J Brill [email protected] James L Brunello [email protected] Christopher Celentino [email protected],
[email protected] Jonathan J Damen [email protected],
[email protected] Daniel Denny [email protected] Caroline Djang [email protected] Joseph A Eisenberg [email protected],
[email protected];[email protected];[email protected];[email protected]
John D Faucher [email protected], [email protected]
Brian D Fittipaldi [email protected] John W Fricks [email protected] Larry W Gabriel [email protected],
[email protected] Jon F Gauthier [email protected],
[email protected] Thomas M Geher [email protected],
[email protected];[email protected];[email protected] Philip J Giles [email protected] David Gould [email protected] Matthew Grimshaw [email protected],
[email protected] Jacqueline A Gruber [email protected] Steven T Gubner [email protected],
[email protected] Ralph P Guenther [email protected] Asa S Hami [email protected],
[email protected];[email protected];[email protected]
Thomas P Jeremiassen (TR) [email protected]
David A Juhnke [email protected] Brian M Kandel [email protected],
[email protected] Jeffrey L Kandel [email protected] Jeffrey L Kandel [email protected] Talin Keshishian [email protected],
[email protected] Lewis R Landau [email protected] rene Lastreto [email protected],
[email protected];[email protected] Erica T Loftis [email protected],
[email protected] Samuel R Maizel [email protected],
[email protected];[email protected]
Daniel M McGee [email protected] Frank F McGinn [email protected] Alexis M McGinness [email protected],
[email protected];[email protected] David W. Meadows [email protected]
Krikor J Meshefejian [email protected] Craig Millet [email protected],
[email protected];[email protected] Jennifer L Nelson [email protected] Jeffrey P Nolan [email protected] Christopher A Nowlin [email protected] Robert B Orgel [email protected], [email protected] David M Poitras [email protected],
[email protected];[email protected];[email protected] Hanno T Powell [email protected],
[email protected];[email protected];[email protected]
Kelly M Raftery [email protected], [email protected]
Dean G Rallis [email protected], [email protected];[email protected];[email protected];[email protected]
Edwin J Rambuski [email protected], [email protected]
Edwin J Rambuski [email protected], [email protected]
Paul F Ready [email protected] John P Reitman [email protected],
[email protected];[email protected];[email protected];[email protected];[email protected]
Christopher O Rivas [email protected], [email protected]
Yonaton M Rosenzweig [email protected], [email protected];[email protected]
John D Schlotter [email protected] Timothy J Silverman [email protected] Evan D Smiley [email protected],
[email protected];[email protected];[email protected]
Robyn B Sokol [email protected], [email protected]
Peter Susi [email protected], [email protected];[email protected]
Cathy Ta [email protected], [email protected];[email protected]
Bill Taylor [email protected] United States Trustee (ND)
[email protected] Darlene C Vigil [email protected] Marshall C Wallace [email protected] Kristin S Webb [email protected],
[email protected] Corey R Weber [email protected],
[email protected] Edward T Weber [email protected] Katherine M Windler [email protected] Jennifer C Wong [email protected] Kelly A Woodruff [email protected] Jonathan R Zeko [email protected],
085
Case 9:08-bk-11457-PC Doc 4191 Filed 01/25/17 Entered 01/25/17 15:57:49 Desc Main Document Page 85 of 85