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Case No . : 04-8021 1 -C IV-MAR R A conducted its business affairs . - - PDF document
Case No . : 04-8021 1 -C IV-MAR R A conducted its business affairs . - - PDF document
UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF FLORID A FORT LAUDERDALE DIVISIO N SECURITIES AND EXCHANGE COMMISSION Plaintiff , V . MICHAEL LAUER , LANCER MANAGEMENT GROUP, LLC, and LANCER MANAGEMENT GROUP II, LLC, Case No . 03-80612
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Case No .: 04-80211 -C IV-MAR RA
4 Data Analysis 284.70 hours $ 55,548 .00 Description - Tasks in this category involved time on the following projects :
- Analysis of books and records for Lancer Partners .
- Creation and updating of a database of transactions entered into by Lancer
Partners .
- Review and analysis of operational activity of portfolio companies .
- Analysis of payments and outflows of cash from Lancer Pa rtners to insiders,
portfolio companies and third parties .
- Compilation of investor information analyzing Pa rtner contributions and
distributions .
- Analysis of net redeemers , partial redeemers and non-redeemers
- Detailed analysis of trading activity for specific portfolio companies invested in by
Lancer Partners .
- Analysis and review of private transactions entered into by Lancer Pa rtners .
- Analysis of Inter-fund trading activity between various Lancer hedge funds
.
5 Evidentiary Analysis 6.50 hours
$ 2,137 .50
Description - Assist Receiver to prepare additional document requests and subpoenas .
6 Fee / Employment Application s Description - Preparation of Fee Applications . 56.70 hours
$ 12,568 .00
7 Fraudulent Transfers Litigation 88 .00 hours
$ 14,752.00
Description - Preparation of schedules for meetings with Creditors Commi ttee; preparation and analysis of contribution and redemption repo rts and preparation of exhibits for fraudulent transfer complaints .
8 GGK Litigation 26.90 hours $ 5,579 .50 Description - Assist Receiver in preparation of complaint. Review of GGK audit workpapers for year end December 31, 1997, 1998 and 1999 . 9 Investor/Creditor Communications 25.30 hours $ 4,947 .00
Description
- Correspondence ,
preparation for and meetings with Creditor
Committee regarding cash reconciliations 3
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Case No . : 04-8021 1 -C IV-MAR RA 10 Partnership Tax Returns
310.10 hours $ 68,701 .00
Description - Analysis of allocations of gains and losses to Partners for tax
reporting purposes . Preparation and review of 2002 pa rtnership return Form 1065 .
Preparation of K-1 forms to be issued to 109 pa rtners . Review of GGK work papers related to the allocation of realized investment gains to individual pa rtners. Drafting of disclosure statements to be issued to Internal Revenue Se rvice and to individual partners. Address impact of prior year Wash Sales . Search of concordance and Lancer computer files for schedules supporting 2001 partner
allocations .
11 Post-petition Accounting 22.50 hours $ 3,275 .50
Description - Preparation and review of monthly Debtor -In-Posession Reports for
the months December 2004, January 2005 and February 2005 .
12 Tax Issues 40.50 hours $ 10,646 .00 Description
- Analysis of filing requirements for affiliated entities .
Review memorandum regarding penalties and interest for late filings
.
Preparation of document requests. Review and respond to various State tax notices . Meetings and conference calls with Receiver 's counsel related to tax issues . 1,018.70 hours
$ 216,085.50 4
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Case No.: 04-8021 1-CIV-MARRA
COMPENSATION The applicant believes that the requested fee, of $216 ,085 .50 for 1,018.70 hours
worked , is reasonable considering the twelve factors enumerated in Johnson v. Georgia
Highway Express, Inc., 488 F .2d 714 (5th Circuit 1974), made applicable to bankruptcy
proceedings by In re First Colonial Corp. of America, 544 F . 2d 1291 (5th Cir . 1977), as follows:
1 .
The General Nature of the Services Rendered: the Amounts Involved and the Results Obtained . This case was commenced on with the filing of Voluntary Bankruptcy Petitions for the Debtor on April 16 , 2003 . Certain matters and the results obtained with respect to those matters are as follows :
2. Time and Labor Required . The time records transcribed as Exhibits "1 - 4" hereto show that BDPB has devoted not less than 1
,018.70 hours of actual recorded time to
the performance of accounting services in these proceedings . Those daily time records, however, do not reflect eve ry hour expended in matters such as telephone calls, routine correspondence , brief conferences and responses to requests for information concerning the status of these proceedings . Time devoted to such matters often eludes recording, but, if recorded , would undoubtedly add to the foregoing total. The accountants for the Receiver recorded the time expended on behalf of the Receiver accurately and there was no duplication of time . The hours expended accurately reflect the work pe rformed . 3 . Novelty and Difficulty of Services and Skills Requisite to the Accounting . The
issues presented in this case are novel given the state of the Debtor 's records , or lack of
records , the difficulty of the records recove ry process, the unavailability of the debtor's accounting personnel , the lack of production of records by the debtor 's third pa rty financial services providers , outside accountants and auditors and the unique way the Debto r
5
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Case No.: 04-8021 1 -CIV-MAR RA conducted its business affairs . Based on information obtained from interviews of former employees and providers , the debtor did not employ accountants and did not maintain books and records normally kept by other similar companies in this indust ry . The debtor utilized the services of third party outside accountants and financial se rvices providers to keep its books and records . Accordingly , BDPB personnel are involved in an extensive document discove ry process in order to recover sufficient information to re-create the books and records of the debtor . This has required the interview of former employees and financial services providers , extensive search and discove ry procedures of the debtors computer and hard copy files, the development of numerous document request lists and follow up procedures , detailed analysis of financial information and developing procedures for the recreation of the debtors books and records which are needed to ensure proper accounting and repo rting . Additionally , it has been alleged that the debtor has been involved in price manipulation of securities in its portfolio and that the debtor invested in illiquid, thinly traded penny stocks . Additionally , it has been discovered that the debtor's personnel provided information regarding private securities transactions that was entered into the debtors prime brokerage account statements concerning the number of shares
- wned and the value of shares owned in its portfolio .
Additionally, it has been discovered that the debtor 's personnel provided information that was entered into the debtors prime brokerage account statements related to cash transactions possibly conducted through
- ther financial institutions and that discovery related to backup documentation for such cash
transactions or the identity of other financial institutions is still in process . BDPB personnel are involved in extensive discove ry and document analysis to determine the nature and extent of cash transactions and to document the cash transactions . The experience and
capabilities of the professionals involved with this case meet the requirement of the accounting skills and judgment and experience in the fields of bankruptcy and related 6
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Case No. : 04-80211 -CIV-MARRA corporate financial and taxation issues and other forensic accounting and consultation skills
required for the successful completion of the objectives of the Receiver .
4 .
The Skill Requisite to Perform the Services Properly. BDPB has staffed the
engagement with personnel experienced in bankruptcy accounting repo rting and disclosure . 5 .
The Preclusion of Other Employment by the Professional Due to Acceptance
- f this Case. BDPB has not been precluded from any other employment due to the
acceptance of this case .
6 .
The Customary Fee . The customary fee for services of the type rendered
herein ,
BDPB charges commercial clients on one or more of the following criteria : reasonable fee for se rvices rendered , hourly charges , or fixed fee. To the extent hourly
charges are relevant , BDPB commands from commercial clients hourly rates ranging from $65 an hour to $350 per hour depending on the level of professional skill required .
7 .
Whether the Fee is Fixed or Contingent . The fee is contingent inasmuch as the Receiver relies upon a Court Order approving the fee . BDPB has not entered into any agreement to fix a fee .
8 .
Time Limitations Imposed by the Client or Other Circumstances . BDPB was directed to commence work by the Receiver on August 11, 2003 to assist the Receiver in : the investigation of the manner in which the affairs of the debtor were conducted ; the determination of what happened to investors' capital contributions ; the investigation of
possible preferential transfers and fraudulent conveyances ; the preparation of the Monthly Financial Repo rts and the Statement of Financial Affairs and the Schedules required to be filed with the Petition . While no specific deadlines have been opposed, other than monthly
reports filed with the Cou rt, BDPB is working with haste and care to assist the Receiver . 9.
The Experience, Reputation, and Ability of the Professional . BDPB is an
established accounting firm comprised of thi rteen directors and over 100 personnel. Its
7
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Case No . : 04-8021 1 -C IV-MAR RA
professionals and staff working on this case are experienced in ma tters of this kind . Richard A. Pollack has testified as an expert witness in similar matters where accounting
fees were awarded on the same basis as those sought in this application
.
10 . Undesirability of Case . This case is not undesirable. BDPB is privileged to have the oppo rtunity to serve the Receiver and appear before the Cou rt in this proceeding .
11 .
Nature and
Length of
Professional Relationship
With Client.
BDPB's relationship with the Receiver began on August 11, 2003 . 12 .
Awards in Similar Cases . The amount requested by BDPB is reasonable in terms of awards in cases of similar magnitude and complexity . The compensation which BDPB requests comports with the mandate of the Bankruptcy Code, which directs that services be evaluated in light of comparable services performed in non-bankruptcy cases in the community . Considering the results obtained thus far , this fee request is appropriate .
Likewise , as with all major accounting firms , BDPB's overhead expenses are substantial .
Much of the fee, which the Court awards BDPB, will merely defray such significant
- verhead expenses already incurred and paid during the pendency of this case .
8
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Case No .: 04-80211-CIV-MARRA WHEREFORE , the applicant seeks an interim award of fees in the amount of
$216,085.50. During the Application Period, BDPB has rendered extensive and necessary services for and on behalf of the receivership estate, as set forth below . Because BDPB is still in the initial phase of the factual development of this case and disclosure of detailed time entries would be detrimental to and undermine the Receiver's efforts to recover assets,
the daily time records of BDPB are not attached. At the Court's request, BDPB will immediately make the time records available to the Court ex parte for an in camera
inspection.
Respectfully submitted, Berkowitz Dick Pollack & Bran t
Certified Public Accountants and Consultants, LLP Accountants for the Receiver 200 South Biscayne Boulevard , Sixth Floor Miami, FL 33131
Tel : (305) 379-7000 Fax: (305) 379-8200
Scott M. Bouchner
9
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Case No .: 04-80211 -CIV-MARRA CERTIFICATION
1 . I have been designated by Berkowitz Dick Pollack & Brant, Certified Publi c
Accountants and Consultants, LLP (the "Applicant") as the professional with
responsibility in this case for compliance with the "Guidelines for Fee
Applications for Professionals in the District of Connecticut in Bankruptcy Cases"
(the "Guidelines") .
- 2. I have read the Applicant's application for compensation and reimbursement of
expenses (the "Application") . The application complies with the Guidelines, and the fees and expenses sought fall within the Guidelines , except as specifically noted in this certification and described in the application .
- 3. The fees and expenses sought are billed at rates and in accordance with
practices customarily employed by the Applicant and generally accepted by the Applicant's clients.
- 4. In seeking reimbursement for the expenditures described on Exhibit 2, the
Applicant is seeking reimbursement only for the actual expenditure and has not marked up the actual cost to provide a profit or to recover the amortized cost of investment in staff time or equipment or capital outlay .
5 . In seeking reimbursement for any service provided by a third party, the Applicant
is seeking reimbursement only for the amount actually paid by the Applicant to the third party .
- 6. The following are the variances with the provisions of the Guidelines, the date of
each court order approving the variance, and the justification for the variance :
N/A
10
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Case No . : 04-80211 -CIV-MARRA
Berkowitz Dick Pollack & Bran t Certified Public Accountants and Consultants, LLP Accountants for Receive r 200 South Biscayne Boulevard Sixth Floor Miami, Florida 33131 305-379-7000 Scott M. Bouchner
11
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Case No.: 04-80211-CIV-MARR A
CERTIFICATE OF SERVIC E
I HEREBY CERTIFY that a true copy of this application, with all exhibits, was
forwarded along with the application for the Counsel for the Receiver this9ay of May, 2005 to all parties on the attached service list .
Berkowitz Dick Pollack & Brant Certified Public Accountants and Consultants, LLP Accountants for Receive r 200 South Biscayne Boulevard Sixth Floor Miami, Florida 33131 305-379-7000 By : Scott M. Bouchner
12
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JOINTLY ADMINISTERED CASE LANCER/RECEIVERSHIP AND BANKRUPTCY CASE
CASE NO. 03-80612-MARRA/VITUNAC/CASE NO .04-CIV-80211-MARRA/VITUNAC ETC. SERVICE LIST
Christopher Martin Michael Lauer pro se
Heidi Caren s
Senior Trial Counsel , Heidi Carens 7 Dwight Lan e U S Securities & Exchange Commissio n
. .
7 Dwight Lane Greenwich CT 0683 1 801 Brickell Avenue - Suite 1800
,
Greenwich, CT 0683 1 Miami, FI 3313 1 Patricia Beaty Nina Fiskaae n Ms
- M. Regina Thomas
.
Office of the U.S. Trustee Nordea Liv Norge AS Controller United States Trustee/Department of Justice , One Century Tower, Suite 1 103 Folke Bernadottes vei 3 8 51 SW 1st Avenue - Suite 1204
265 Church Street 5147 Fyllingsdalen New Haven, CT 06510 Miami, FL 33130 1201 Bergen - NORWA Y David Blaylock Esq . Gerry LaBush Esq
,
, .
Glankler Brown PLLC Hodgson Russ 1.1.12 711 Third Avenue , 1700 One Commerce Square
Ong M&T Plaft suite 2000
Suite 1505 Tennessee 3810 3 Memphi s
New York 1120 3
Buffalo New York New York 10017
,
,
,
Counsel for George R. Pidgeon, Sr. David Newman Trisha D Sindler Jimmy Tsakni
.
c/o Timothy E. Hoeffner
Special Counsel c/o Shari A. Brandt . Esq . 1500 Market stree t U
Securities & Exchange Commission
S
Richard Spears Kibbe & Orbe, LLP
` h . .
Floor
3 8
801 Brickell Avenue - Suite 1800 One World Financial Center PA 19102-218 6 Philadelphi a Miami . FI 33131 New York, NY 10281
,
Frank Paul Terzo
Noah J. Schafler, Esq . Mercedes G Hale
Katz Barron Squitero Faust
.
The Law Offices of David W . Rubi n Piper Rudnick LLP 2699 S Bayshore Drive Suite 20 1 600 Summer Stree t . Suite 2000 101 E. Kennedy Boulevard
,
Eight Floor
, Tampa, FL 33602 Stamford, CT 0690 1
Miami, FL 3313 3
Kenneth B . Robinson Esq. Mark S. Gregory , Robert M Dombroff Esq Pugatch Robinson & Schiller P.A . Rice
, . .
Delphine W. Knight Brown ,
, ,
Esq Jonathan Alter 848 Brickell Avenue Suite 1100 ,
.
Kelley Drye & Warren LLP
,
Bingham McCutchen LL P FL 3313 1 Miami
Two Stamford Plaza
,
One State Street
281 Tresser Boulevard
Hartford CT 06103 ,
Stamford, CT 0690 1
David Barrack, Esq . Anthony & Patricia O'Callagahan/ Hal M . Hirsch, Esq .
Christopher B . O'Callaghan/
Joshua W. Cohen
Greenberg Traurig, LLP Diane J. Nelson/John P . Heffernan Cummings & Lockwood Met Life Building Attn: Timothy T. Brock 700 State Street 200 Park Avenue Satterlee Stephens Burke & Burke LLP New Haven, CT 06509 New York, NY 10166 230 Park Avenu e New York, NY 10169
Thomas D Goldberg
Es .. Br ian C Courtney
.
Barbara H. Katz
.
,
Day, Berry & Howard LLP Law Office of Barbara H . Katz One Canterbury Green
OneState Street
57 Trumbull Street
RaFtAffil, CT 06103 3402
Stamford, CT 06901
New Haven, CT 06510 James M. Nugent, Esq . Gary S. Klein Joseph P. Moodhe KFO Investors Partnership Debevoise and Plimpton James M. Nugent
970 SUMFROF 9480t
919 Third Avenue Harlow, Adams & Friedman, P .C . New York, NY 10022 300 Bic Driv e
Millford, CT 06460
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Howard L . Siegel
Brown Rudnick Berlack Israels LLP Thaddeus E. Delonis, CPA
Cityplace I, 38`' Floor 290 Towne Center Drive 185 Asylum Avenue Troy, MI 48084 -1774
Hartford, CT 06010 3 Garry M. Graber Leonard H . Hecht c/o Joseph Galda, Esq .
1270 avenue of the Americas
Corsair Advisors, Inc. Suite 21 4 497 Delaware Avenue New York, NY 10020 Buffalo, NY 14202 Timothy W. Walsh
Peper Rudnick LL P 1251 Avenue of the Americas New York , NY 10020-1104
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E-MAIL SERVICE LIST
JetTrey Greilsheimer, Esq .
Hughes Hubbard and Reed, LLP One Batt ery Park Plaza New York, New York 1000 4
E-mail: greilshcrePhugheshubbard . coin Scott M. Berman, Esq . Anne E. Beaumont, Esq . Friedman, Kaplan,Siiler & Adelman LL P 1633 Broadway , 46th Floo r New York, NY 10019-670 8
sbermangfklaw.com/abeaumont@fklaw .com Greg T. Arnold Brown Rudnick Berlack Israel s One Financial Center Boston, MA 0211 1 E-mail : garnold(a.',brbilaw.com Travis Corder David Cimo Esq .
Paul Wallace
Genovese Joblove & Battista A
P
Brown Rudnick Berlack Israels
.
,
.
9701 S. Bexley Drive Bank of Tower 36th Floor
One Financial Center ,
Littleton CO 8012 6
100 S.E. 2nd Street
,
Boston, MA 02111
E-mail : wallaceclandenver(amsn com
Miami FL 33131 . E-mail : tcorder(a brbilaw .com , E-mail : dcimo(u gib-law.com
Bill McCowen
- Mr. Hans Jacob Dahle
David P. Milian, Esq . Vesta Forsikring AS Kozyak Tropin & Throckmorton, P .A .
Metamora Multi Managers L L C .
. .
P.O. Box 7070
2525 Ponce de Leo n
E-mail : mccowenbill( voyager . net
5020 B NORWAY
l G ble 33134 C
ergen -
- ra
a
s e-mail: hans.jacob .dahle@vesta .no E-mail: dmilian(a>kttlaw.com Michael A. Hanzman Esq . Aaron Podhurst Esq ,
, .
Joel H. Bernstein
Esq. Hanzman & Criden P.A .
Podhurst Orseck Josefsburg
, , , , ,
Goodkind Labaton Rudoff & Sucharow LL P Commerce Bank Building Eaton Meadow Olin & Perwin
P.A. ,
, ,
100 Park Avenu e 220 Alhambra Circle - Suite 400 25 West Flagler Street - Suite 800 New York 1001 7
New York Coral Gables Florida 33134 Miami Florida 33130
. , ,
E-mail ibernstein(alglrslaw .com E-mail : Milanzman(a)IlanzmanCriden.com E-mail : apodhurst(a,podhurst.com
Carol Felicett a
Roberto Martinez Esq.
Joseph Matthews Esq .
, ,
Reid & Riege
P.C . Colson Hicks Eidson P A
Colson Hicks Eidson P A
, . . . .
9th Floor 234 Church Stree t 255 Aragon Avenue 2nd Floor 255 Aragon Avenue 2nd Floor ,
, ,
CT 06510-181 9 New Haven Coral Gables FL 33134 Coral Gables FL 33134 ,
,
, E-mail : ctelicetta'areidandriege.com E-mail : bob(a colson.com E-mail : ioseoh(r~?colson .com David L. Snyder, Esq . Rudolph F . Aragon, Fsq .
Salvatore A. Barbatano. Esq . Craig B . Leavers, Esq .
White & Case Foley & Lardner Neuberger, Quinn, Gielen, Rubin & Gibber Wachovia Financial Center, Suite 4900 150 W. Jefferson One South Street, 27`h Floor 200 South Biscayne Boulevard Suite 1000 Baltimore, MA 21202-3282 Miami, Florida 33131-2352
Detroit, MI 48226-2616
E-mail : dlsrdnggrg .com/cblra:nggrg.com E-mail : raragon@whitecase .com E-mail : sbarbatano(uafoleylaw. com Eric A. Henzy, Esq . Donald Workman, Esq . Reid and Riege, P .C . Foley & Lardner
Timothy P . Harkness, Esq . One Financial Plaza 3000 K Street, N .W . Kramer Levin Naftalis & Frankel LL P Hartford, CT 06103 Suite 500 919 Third Avenu e E-mail : ehenzy(ri),reidandrie c .com Washington, D.C . New York, New York 1002 2 E-mail : dworkmancd,,folevlaw .com E-mail : tharkness(a~kramerlevin .com Lewis N . Brown
Harley S . Tropin, Esq .
Christopher Martin Gilbride, Heller & Brown, PA . Kozyak Tropin & Throckmorton, P .A. Senior Trial Counse l One Biscayne Tower. Suite 1570 2525 Ponce de Leon
U.S. Securities & Exchange Commission
Two South Biscayne Blvd .
Coral Gables 33134 801 Brickell Avenue - Suite 1800
Miami, Florida 33131 E-mail : hst (i,kttlaw.com
Miami, Fl 3313 1
E-mail : lbrown(a?ghblaw .com
F-mail : s f(a] ktt l aw. co m
E-mail : martinc(r4),sec.gov
Lewis N . Brown, Esq .
Andrew L . Jiranek Michael J . Dell Esq . Dyanne E. Feinberg, Esq . McKennon Shelton & Henn LLP
,
Kramer Levin Naftalis & Frankel LLP Gilbride, Heller & Brown, P .A.
401 East Pratt St. Suite 2315 919 Third Avenue One Biscayne Tower, Suite 157 0
, Baltimore Md 21202 New York, New York 10022 Two South Biscayne Blvd .
, .
E-mail: andrew.jiranek@mshllp .com
E-mail: mdell@kramerlevin .com
Miami, FL 3313 1 E-mail: lbrown@ghblaw . com/dfeinberg@ghblaw .com
SLIDE 16
Daniel A. Casey, Esq. Seth M. Schwartz, Esq. John Hochman, Esq. Kirkpatrick & Lockhart Miami Center - 20 h Floor Skadden, Arps, Slate, Meagher & Flom LLP Schindler Cohen & Hochman LL P 201 S. Biscayne Blvd. Four Times Square 100 Wall Street, 15`h Floor
Miami, FL 33131 New York, New York 10036 New York, New York 10005
E-mail: dcasey@kl.com E-mail : sschwart@skadden.com. E-mail: jhochman@schlaw .com Robert Pershes, Esq . Buckingham, Doolittle & Bouroughs, LLP 2500 North Military Trail, Suite 48 0 Boca Raton , FL 3343 1 E-mail : rpershes @bdblaw.com David Cimo Esq .
Genovese Joblove & Battista, P .A. Bank of Tower, 36th Floo r 100 S . E. 2nd Street Miami, FL 3313 1 E-mail: dcimo@gjb-law .com
Robert T. Wright, Esq . Coffey & Wright, LLP Grand Bay Plaza Penthouse 2 B 2665 S . Bayshore Drive Miami, FL 3313 3 E-mail : rwright@coffeywright.com
William R. Maguire, Esq. Jeffrey Greilsheimer, Esq . Hughes Hubbard & Reed, LLP One Battery Park Plaza New York, NY 10004
E-mail : maguire@hughesbubbard .com greilshe@hugheshubbard .com
- Mr. Dylan Wolf
f
Managing Director Norges Investor Value P.O. Box 1863 Vika 0124 Oslo - NORWAY e-mail : dw@norgesinvestor.no
William S . Fish, Esq . William H . Champlin, Esq . Tyler Cooper & Alcorn, LL P 185 Asylum St .. CityPlace 35th Floor
Ha rt ford , CT 0610 3 e-mail : fish @tylercooper.com/ champ )in@ty lercooper . com
Jacqueline Wilson British Virgin Islands Financial Services Commissio n Pasea Estate, Road Town Tortola, British Virgin Islands e-mail: wilsonj@bvifsc.vg
Price Findlay & Co . P.O. MAX 333 1
John G . Moon, Esq . Chadbourne & Parke LLP 30 Rockefeller Plaza New York, NY 1011 2 e-mail: jmoon@chadbourne .com Kevin E. Gunther 27 Reid Street, I" Floor
P.O. Box HM 3051
Hamilton HM NX Bermuda e-mail: kevin.gunther@lom.bm Michael Lauer, pro se 7 Dwight Lane Greenwich, CT 0683 mblauer,~ihotmail .com
4036 .000002 MIAMI 236715v 1
SLIDE 17
04-80211-CIV-MARRA Summary of Professional and Paraprofessional Time Total per Individual for this Period Only Exhibit 1-A
Name
Director, Staf
f
- r Paraprofessional
Tota l Hours Average Hourly Rate Fee Richard A. Pollack Director
23.20
$ 350.00 8,120.00
Scott M . Bouchner Director
136 .10
$ 295.00 40,149 .50
Jeffrey Mutnik Director 3 .90
$ 285.00 $ 1,111 .50
Gary E. Rosenthal Director 8 .00
$ 285.00 2,280 .00
David J. Siegel Associate
74 .00
$ 250.00 18, 500 .00
Douglas Campbell Associate
232 .50
$ 250.00 58,125 .00
Juan Carlos Ferrucho Associate
0 .50
$ 250.00 125 .00
Cristian Nieto Associate 5 .10
$ 220.00 $ 1,122.00
Joel D . Glick Associate
157 .80
$ 220.00 34, 716.00
Mitchell E. Cutler Associate 0 .50
$ 220.00 110.00
Timothy Burrows Associate
15.90
$ 180.00 2,862.00
Anthony Guttierez Associate
0.20
$ 180.00 36.00
Ed Duarte Associate
10.10
$ 180.00 1,818.00
Deanna B . Novak Associate
1 .00
$ 150.00 150.00
Yanoi E. Nunez Associate 2 .30
$ 145.00 333.50
Martin Prinsloo Associate
68.50
$ 145.00 9,932.50
Gregory Lacina Associate
70.30
$ 145.00 10,193.50
Adam J . Lang Associate
73.00
$ 140.00 10, 220.00
Scott Schneider Associate
41 .90
$ 135.00 $ 5,656.50
Sharon F . Foote Associate
48.50
$ 135.00 6,547.50
Adam Katz Associate
22 .80
$ 110.00 $ 2,508.00
Ramona Moya Associate
10.70
$ 65.00 695.50
Lesma Baez Associate 2 .10
$ 65.00 $ 136.50
Nicole McDonald Associate
9.80
$ 65.00 637.00
1,018 .70 Blended Average Hourly Rate :
$ 212 .1 2
Total fees :
$ 216,085.50
SLIDE 18
04-80211 -C I V-MAR RA Summary of Professional and Paraprofessional Time by Activity Code Catego ry
for this Time Period Only Exhibit 1- B Name
Rate Hours
Fee
1
Accounting / Auditing Scott M. Bouchner
$ 295.00
27 .50 8,112 .50 Joel D. Glick
$ 220.00
91 .10
20,042 .00 Yanoi E. Nunez
$ 145.00
2 .30
333 .50 Adam J . Lang
$ 140 .00
4 .60
644.00 Activity Code Subtotal :
125 .50
29,132 .00 Case Administratio n Richard A. Pollack
$ 350 .00
3 .30
1,155.00 Scott M. Bouchner
$ 295 .00
8 .30
2,448.50 David J . Siegel
$ 250 .00
4.00 1,000.00 Activity Code Subtotal : 15.60 4,603.50 Claims Administration / Objections Scott M . Bouchner
$ 295 .00
9.30 2,743 .50 Joel D. Glick
$ 220 .00
5.60 1,232.00 Deanna B . Novak
$ 150.00
1 .00
150 .00 Adam J. Lang
$ 140.00
0.50 70 .00 Activity Code Subtotal :
16.40
4,195 .50 Data Analysis Scott M . Bouchner
$ 295.00
35.90 10, 590.50 David J . Siegel
$ 250.00
65 .00 16,250.00 Cristian Nieto
$ 220.00
5 .10
1,122 .00 Joel D. Glick
$ 220.00
16.10
3,542 .00 Ed Duarte
$ 180.00
10 .10
1,818.00 Timothy Burrows
$ 180.00
15 .90
2,862 .00 Martin Prinsloo
$ 145.00
10 .50
1,522.50 Adam J. Lang
$ 140.00
21 .00
2,940.00 Scott Schneider
$ 135.00
41 .90
5,656.50
Sharon F . Foote
$ 135.00
48 .50 6,547.50
Adam Katz
$ 110.00
10 .20
1,122.00 Activity Code Subtotal : 284 .70 55,548.00 Evidentiary Analysis Richard A. Pollack
$ 350.00
4 .00 1,400.00 Scott M . Bouchner
$ 295.00
2 .50
737.50 Activity Code Subtotal : 6 .50 2,137.50 Fee / Employment Applications Richard A. Pollack
$ 350.00
0 .50 175.00 Scott M . Bouchner
$ 295.00
28 .00 8,260.00 Joel D. Glick
$ 220.00
11 .50
2,530.00
SLIDE 19
04-8021 1 -CIV-MARRA Summary of Professional and Paraprofessional Time by Activity Code Catego ry for this Time Period Only Exhibit 1- B
I
Name
Rate Hours Fee
Adam J. Lang
$ 140 .00
6.90 966.00 Nicole McDonald
$ 65 .00
9.80 637.00 Activity Code Subtotal : 56.70 12,568.00 Fraudulent Transfers Litigatio n Scott M. Bouchner
$ 295 .00
6.10 1,799.50 David J . Siegel
$ 250 .00
3.00 750.00 Joel D. Glick
$ 220.00
11 .80
2,596 .00
Martin Prinsloo
$ 145.00
42.50 6,162 .50
Adam J. Lang
$ 140.00
24.60 3,444 .00 Activity Code Subtotal : 88.00 14,752 .00 GGK Litigation Richard A. Pollack
$ 350.00
1 .00
350.00 Scott M. Bouchner
$ 295.00
5 .30
1,563.50 Gary E. Rosenthal
$ 285.00
8 .00
2,280.00 Adam Katz
$ 110.00
12 .60
1,386.00 Activity Code Subtotal : 26 .90 5,579.50 Investor/Creditor Communication s
David J . Siegel
$ 250.00
1 .50
375.00 Joel D. Glick
$ 220.00
15 .00
3,300.00 Martin Prinsloo
$ 145.00
8 .00
1,160.00 Adam J. Lang
$ 140 .00
0 .80
112 .00 Activity Code Subtotal : 25 .30 4,947.00 Partnership Tax Returns Richard A. Pollack
$ 350.00
8 .10
2,835 .00 Douglas Campbell
$ 250 .00
215.00
53, 750 .00 Jeffrey Mutnik
$ 285.00
3 .70
1,054 .50 Anthony Guttierez
$ 180 .00
0.20 36 .00 Ramona Moya
$ 65.00
10 .70
695 .50 Lesma Baez
$ 65 .00
2 .10
136 .50 Gregory Lacina
$ 145.00
70.30 10,193 .50 Activity Code Subtotal : 310 .10 68,701 .00 Post-petition Accountin g Joel D. Glick
$ 220.00
1 .10
242 .00 Martin Prinsloo
$ 145.00
7.50 1,087 .50 Adam J. Lang
$ 140 .00
13.90 1,946 .00 Activity Code Subtotal : 22 .50 3,275 .50 Tax Issues Richard A. Pollack
$ 350.00
1 .80
630 .00
SLIDE 20
04-80211-CIV-MARRA Summary of Professional and Paraprofessional Time by Activity Code Category for this Time Period Only Exhibit 1- B
I
Name Rate Hours Fee
Jeffrey Mutnik
$ 285 .00
0 .20 57 .00 Scott M. Bouchner
$ 295.00
13 .20
3,894.00 Juan Carlos Ferrucho
$ 250.00
0 .50
125.00 David J. Siegel
$ 250.00
0 .50
125.00 Douglas Campbell
$ 250.00
17 .50
4,375-00 Mitchell E. Cutler
$ 220 .00
0.50 110.00 Joel D. Glick
$ 220.00
5 .60
1,232.00 Adam J . Lang
$ 140 .00
0 .70
98.00 Activity Code Subtotal : 40.50
10, 646.00
Total : 1,018.70 $ 216,085.50
SLIDE 21
04-8021 1 -CIV-MARRA
Summary of Requested Reimbursement of Expenses for this Time Period Only Exhibit 2 Total Expense Reimbursement Requested
$
SLIDE 22
UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF FLORID A FORT LAUDERDALE DIVISIO N SECURITIES AND EXCHANGE COMMISSION
Plaintiff, V .
MICHAEL LAUER , LANCER MANAGEMENT GROUP, LLC, and LANCER MANAGEMENT GROUP II, LLC ,
Defendants, Case No. 03-80612 CIV-MARRA
Jointly Administere d
and
LANCER OFFSHORE, INC ., LANCER PARTNERS, LP, OMNIFUND, LTD . , LSPV, INC ., and LSPV, LLC , Relief Defendants .
/ IN RE : LANCER PARTNERS, L .P., DEBTOR . Chapter 11 Case Case Nos . : 04-80211 -CIV-MARRA SUMMARY OF SEVENTH APPLICATION FOR COMPENSATION OF FEES AND COSTS OF ACCOUNTANTS FOR RECEIVE R (Request for Relief in Bankruptcy Case Only)
1 .
Name of applicant : Berkowitz Dick Pollack & Brant Certified Public Accountants & Consultants, LL P
2 .
Role of applicant : Accountants for Receive r 3 .
Name of certifying professional : Scott M. Bouchner
4 .
Date case filed : April 16, 2003 5 .
Date of application for employment :
- 6 .
Date of order approving employment :
- 7 .
If debtor's counsel, date of Disclosure
- f Compensation form :
N/A 8 . Date of this application : May 27, 2005 9 . Dates of services covered : December 1, 2004 through March 31, 2005
SLIDE 23
Case No . : 04-80211-CV-MARRA
10 . Fees . . .
Total fee requested for this period (from Exhibit 1)
$
216,085.50
11 .
Balance remaining in fee retainer account, not yet awarded
- 12.
Fees paid or advanced for this period, by other sources
- 13.
Net amount of fee requested for this period
$ 216,085.50 14 . Expenses . . .
Total expense reimbursement requested for this perio d
15.
Balance remaining in expense retainer account, not yet receive d
16.
Expenses paid or advanced for this period, by other source s 17 . Net amount of expense reimbursements requested for this period $ 18 . Gross award requested for this period (#10 + #14)
$
216,086.60 19. Net award requested for this period (#13 + #17) $ 216,086.50
20 .
If Final Fee Application, amounts of net awards requested in interi m
applications but not previously awarded (total from History of Fees and Expenses ,
following pages) :
21 .
Total fee and expense award requested (#19 + #20) : S 216,085.60 History of Fees and Expense s
1 . Dates , sources , and amounts of retainers received :
Dates Sources Amounts For Fees or costs
- 2. Dates , sources , and amounts of third party payments received :
Dates Sources
Amounts For Fees or costs
SLIDE 24
Case No . : 04-80211-CV-MARRA
3 .
Prior fee and expense awards : First interim application Dates covered by first application : August 11 , 2003 through September 30, 2003 Prior Fee Awards Prior Expense Awards Amount of fees requested :
$ 52,300.00
Amount of expenses requested :
$ 2,347.28
Amount of fees awarded :
$ 44,455.00
Amount of expenses awarded :
$ 2,347.28
Amount of fee retainer authorized to be used :
$
- Amount of expense retainer authorized to be used :
$
Fees award , net of retainer : $
- Expense award , net of retainer :
Date of first award : Amount of fees actually paid :
February 11, 2004
$ 44,455 .00
Amount of expenses reimbursement actually paid :
$ 2,347.28
Portion of fees requested but not awarded , which applicant wishes $ 7 ,845.00
to defer to final fee application : Portion of expenses requested but not awarded , which applicant wishes to defer to final fee application :
SLIDE 25
Case No .: 04-80211-CV-MARRA Second interim applicatio n Dates covered by second application : October 1 , 2003 through November 30, 200 3
Prior Fee Prior Expense
Awards Awards
Amount of fees requested : $ 47,469.50 Amount of expenses requested : Amount of fees awarded : $ 47,469.50 Amount of expenses awarded : $ Amount of fee retainer authorized to be used : $
- Amount of expense retainer authorized to be used
:
Fees award , net of retainer: $ 47,469.50 Expense award , net of retainer : Date of second award : April 16, 2004 Amount of fees actually paid : $ 47,469.50 Amount of expenses reimbursement actually paid :
Portion of fees requested but not awarded , which applicant wishes
$
- to defer to final fee application :
Portion of expenses requested but not awarded , which applicant wishes to defer to final fee application :
SLIDE 26
Case No . : 04-80211-CV-MARRA Third interim applicatio n Dates covered by third application : December 1, 2003 through January 31, 2004 Prior Fee Awards Prior Expense Awards Amount of fees requested :
$
63,166.50 Amount of expenses requested : Amount of fees awarded :
$ 63,166 .50
Amount of expenses awarded : Amount of fee retainer authorized to be used : $
- Amount of expense retainer authorized to be used :
Fees award , net of retainer :
$ 63,166 .50
Expense award , net of retainer: Date of third award : Amount of fees actually paid :
October 8, 2004
$ 63,166 .50
Amount of expenses reimbursement actually paid : Portion of fees requested but not awarded , which applicant wishes to defer to final fee application : Portion of expenses requested but not awarded , which applican t wishes to defer to final fee application :
SLIDE 27
Case No .: 04-80211-CV-MARRA
Fourth interim application Dates covered by fourth application : February 1, 2004 through March 31, 200 4 Prior Fee Awards Prior Expense Awards Amount of fees requested :
$ 80,306 .00
Amount of expenses requested : Amount of fees awarded :
$ 80,306 .00
Amount of expenses awarded : Amount of fee retainer authorized to be used :
$
- Amount of expense retainer authorized to be used :
Fees award, net of retainer:
$ 80,306 .00
Expense award, net of retainer : Date of fourth award : Amount of fees actually paid : October 8, 200 4
$ 80,306 .00
Amount of expenses reimbursement actually paid : Portion of fees requested but not awarded, which applicant wishe s to defer to final fee application : Portion of expenses requested but not awarded, which applican t wishes to defer to final fee application :
SLIDE 28
Case No. : 04-80211-CV-MARRA Fifth interim application
Dates covered by fifth application: April 1, 2004 through May 31, 2004
Prior Fee Prior Expense Awards Awards
Amount of fees requested: $ 144,330.00 Amount of expenses requested : Amount of fees awarded: $ 144,330.00 Amount of expenses awarded : Amount of fee retainer authorized to be used: $ - Amount of expense retainer authorized to be used : Fees award, net of retainer: $ - Expense award , net of retainer : Date of fifth award: March 29, 2005 Amount of fees actually paid: $ 144,330 .00 Amount of expenses reimbursement actually paid : Po rtion of fees requested but not awarded , which applicant wishes $ - to defer to final fee application :
Portion of expenses requested but not awarded, which applicant wishes to defer to final fee application :
SLIDE 29
Sixth interim application Dates covered by fifth application: June 1, 2004 through November 30, 2004 Prior Fee Prior Expense
Awards Awards
Amount of fees requested: $ 439,792 .00 Amount of expenses requested : Amount of fees awarded: $ Amount of expenses awarded : Amount of fee retainer authorized to be used: $ Amount of expense retainer authorized to be used : Fees award , net of retainer: $ Expense award , net of retainer :
Date of fifth award : Amount of fees actually paid: $ $ Amount of expenses reimbursement actually paid : $ Portion of fees requested but not awarded , which applicant wishes $ to defer to final fee application : Portion of expenses requested but not awarded , which applicant wishes to defer to final fee application :