Judge Johnson Procedure on Employing Attorneys in Chapter 11 in Riverside
Posted: Tue Jul 28, 2015 10:10 am
Michael:
I must complement you for reading the legislative history.
D
Dennis McGoldrick, 350 S. Crenshaw Bl., #A207B, Torrance, Ca 90503 310-328-1001-voice
> On Jul 23, 2015, at 8:47 PM, Michael Avanesian michael@avanesianlaw.com [cdcbaa] wrote:
>
> What authority does he have to do that?
>
> senate report no. 95989
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> Section 331 permits trustees and professional persons to apply to the court not more than once every 120 days for interim compensation and reimbursement payments. The court may permit more frequent applications if the circumstances warrant, such as in very large cases where the legal work is extensive and merits more frequent payments. The court is authorized to allow and order disbursement to the applicant of compensation and reimbursement that is otherwise allowable under section 330. The only effect of this section is to remove any doubt that officers of the estate may apply for, and the court may approve, compensation and reimbursement during the case, instead of being required to wait until the end of the case, which in some instances, may be years. The practice of interim compensation is followed in some courts today, but has been subject to some question. This section explicitly authorizes it.
>
>
> Sincerely,
>
> Michael Avanesian, Esq.
> Simon Resnik Hayes, LLP
> 15233 Ventura Blvd., Suite 250
> Sherman Oaks, CA 91403
> Tel: 818.783.6251 | Cel: 818.817.1725
>
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>
>> On Thu, Jul 23, 2015 at 7:06 PM, jhayes@hayesbklaw.com [cdcbaa] wrote:
>>
>> Judge Johnson approved our employment application as general counsel in a chapter 11 at a hearing today. He told me that he has some "standard" language that he would insert into the Order himself. It would say ONE: you cannot draw down on the retainer at all until a fee app is approved. TWO you cannot file a fee app until the disclosure statement is approved. Apparently there will be some language qualifying those statements. Once I see the language I am going to file a motion seeking permission to file a fee application or something similar. It's really incredible that we must finance 100% of the chapter 11 case until the DS is approved. >>
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