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Securities and Exchange Commission v. Path America, LLC

United States District Court, W.D. Washington, Seattle

September 4, 2019

SECURITIES AND EXCHANGE COMMISSION, Plaintiff,
v.
PATH AMERICA, LLC, et al., Defendants and POTALA SHORELINE, LLC, et al., Relief Defendants.

          FIFTEENTH ORDER REGARDING FEE APPLICATIONS

          JAMES L. ROBART UNITED STATES DISTRICT JUDGE

         Before the court are four quarterly fee applications: (1) Receiver Michael A. Grassmueck's (“the Receiver”) fourteenth interim fee application for $6, 646.00 in fees and $908.96 in expenses (Dkt. # 692); (2) the fifteenth interim fee application of the Receiver's general counsel, Allen Matkins Leck Gamble Mallory & Natsis, LLP (“Allen Matkins”), for $29, 936.25 in fees and $2, 953.67 in costs (Dkt. # 693); (2) the fifteenth interim fee application of the Receiver's forensic accountant, Financial Forensics, for $4, 158.00 in fees (Dkt. # 694); and (3) the twelfth interim fee application of the Receiver's tax accountants, Peterson Sullivan LLP (“Peterson Sullivan”), for $7, 805.25 in fees and $1, 377.30 in expenses (Dkt. # 695). As described below, the court GRANTS the fee applications of the Receiver, Allen Matkins, Financial Forensics, and Peterson Sullivan (Dkt. ## 692-95).

         The Receiver's counsel filed all of the foregoing motions on August 22, 2019, and properly noted them for the court's consideration on September 6, 2019. (See id.) Because Monday, September 2, 2019, was Labor Day, any opposition to the motions was due no later than Tuesday, September 3, 2019. See Local Rules W.D. Wash. LCR 7(d)(3) (“Any opposition papers shall be filed and served no later than the Monday before the noting date.”); see id., LCR 7(d)(5) (“If the deadline for a party's response . . . falls on a date that is a legal holiday . . ., the party's response . . . is due on the following day that is not a Saturday, Sunday, or legal holiday); see also Fed. R. Civ. P. 6(a)(6)(A) (defining Labor Day as a legal holiday). No. party filed an opposition to any of the motions. (See generally Dkt.)

         The court finds that (1) the fees and costs requested in each of the fee applications listed above are reasonable and necessary, (2) the notice of the fee applications was appropriate, (3) the fee applications are made in accordance with the Order Appointing Receiver (see OAR (Dkt. # 88) ¶¶ 55-59), and (4) the services provided were of substantial benefit to the Receivership Estate. Each of the foregoing applicants seeks a distribution of only 80% of the approved fees and costs at this time. (See id. ¶ 58

         (“Quarterly Fee Applications may be subject to a holdback in the amount of 20% of the amount of fees and expenses for each application filed with the Court.”); see also Dkt. # 692 at 2; Dkt. # 693 at 2; Dkt. # 694 at 3; Dkt. # 695 at 4.)

         Accordingly, the court GRANTS the fee applications (Dkt. ## 692-95) and APPROVES on an interim basis the following application amounts for the period of April 1, 2019, through June 30, 2019:

Applicant:

Fees:

Costs:

Total Allowed:

The Receiver

$6, 646.00

$908.96

$7, 554.96

Allen Matkins

$29, 936.25

$2, 953.67

$32, 889.92

Financial Forensics

$4, 158.00

$00.00

$4, 158.00

Peterson Sullivan

$7, 805.25

$1, 377.30

$9, 182.55

         Finally, the court AUTHORIZES the Receiver to disburse the following percentages of the foregoing approved fees and costs at this time:

         (1) $6, 043.97 to the Receiver, which is 80% of the approved fees and costs;

         (2) $26, 311.94 to Allen Matkins, which is 80% of the approved fees and costs;

         (3) $3, 326.40 to Financial Forensics, which is 80% of the ...


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