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Berger Singerman Asks for an Order Allowing it to Pay Itself from Retainer
Things are not so free and easy in SCOland, I gather, now that the Chapter 11 Trustee is running the company. Berger Singerman has filed a motion on its own behalf asking the court to please amend a prior order, the October 5, 2007 Administrative Order Establishing Procedures for Interim Monthly Compensation of Professionals, so the firm can pay itself from the retainer it has in hand. It's been doing that for a while, but it seems the Chapter 11 Trustee notices that there is no explicit allowance to use the retainer in that order. If you remember, he already signaled that he's looking into all the professional fees. So Berger Singerman would like an explicit order from the court saying it's all right to do that.
The motion lists the retainer as being currently $340,536, and they need to dip into it some more because while "Debtors paid the interim monthly payments to the Movant to the best of their reasonable abilities throughout the cases", "eventually cash flow became an issue". Indeed. More... |
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