Procedures For Interim Compensation And Reimbursement Of Professionals (Standing Order 2) | Pdf Fpdf Doc Docx | Missouri

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Procedures For Interim Compensation And Reimbursement Of Professionals (Standing Order 2) | Pdf Fpdf Doc Docx | Missouri

Procedures For Interim Compensation And Reimbursement Of Professionals (Standing Order 2)

This is a Missouri form that can be used for Eastern District within Federal, Bankruptcy Court.

Alternate TextLast updated: 11/19/2009

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UNITED STATES BANKRUPTCY COURT EASTERN DISTRICT OF MISSOURI EASTERN DIVISION IN THE MATTER OF: DEBTOR NAME, Debtors. ) ) ) ) ) ) ) In Proceedings Under Chapter 11 Case No. 01-12345-XXX Honorable ____________ United States Bankruptcy Judge STANDING ORDER #2 PROCEDURES FOR INTERIM COMPENSATION AND REIMBURSEMENT OF PROFESSIONALS AND ESTABLISHING FEE AND EXPENSE GUIDELINES FOR PROFESSIONALS AND COMMITTEE MEMBERS This matter coming before the Court on the request of the Debtors and Debtorsin-Possession for an Order for Procedures for Interim Compensation and Reimbursement of Professionals and Establishing Fee and Expense Guidelines with respect to professionals and Official Committee members appointed pursuant to 11 U.S.C. §§ 327, 1102 ("Professionals and Committee Members"), the Court having reviewed and considered the request and having heard the statements of counsel in support thereof and the statements of all other parties appearing before the Court in connection therewith; the Court having jurisdiction over this matter pursuant to 28 U.S.C. §§ 157 and 1334 and Local District Court Rule 9.01; the Court finding that this is a core proceeding pursuant to 28 U.S.C. § 157(b)(2); the Court finding that due and adequate notice of the request having been given; the Court being fully apprised in the premises and having determined that the legal and factual bases are sufficient to establish just cause for the relief herein granted; now therefore, IT IS ORDERED, ADJUDGED, AND DECREED I. INTRODUCTION American LegalNet, Inc. 1. Notwithstanding anything herein to the contrary, the Court reserves the right to alter the terms hereof and to allow compensation and reimbursement of expenses to any particular Professional as the Court from time to time determines factually and legally appropriate. The U.S. Trustee and each Professional reserve the right to petition the Court for such alteration. 2. Except upon separate order of the Court with respect to specific Professionals, Professionals in these proceedings shall be paid interim compensation and expense reimbursement and Committee Members shall be reimbursed for expenses from the Debtors' estates in accordance with the following procedures. 3. Notwithstanding any payments by the Debtors pursuant to (i) the monthly statements; or (ii) any Court approval of interim compensation or expense reimbursement, all fees and expenses of any Professional or Committee Member are subject to final review and approval of the Court. II. REIMBURSEMENT OF FEES 4. Professionals will be compensated from the Debtors' estates for professional services where the compensation is reasonable and is for services rendered to the Debtors' estates. Except as authorized by separate orders of the Court, all monthly statements and fee applications for compensation relating to professional fees must contain the following information: (a) a detailed description, organized in chronological order by subject matter of the task, similar to those set forth in the U.S. Trustee's Guidelines for Compensation and Reimbursement Expenses (non-conforming descriptions may be subject to disallowance); 2 American LegalNet, Inc. (b) the length of time it took to perform each task or contemporaneously related tasks, expressed in tenths (1/10ths) of hours. Except where contemporaneously related tasks are related to each of the specific tasks performed, bunching/aggregating of all daily time entries is not permitted and will not be allowed; (c) an identification of who performed the work. 5. The following provisions apply to all applications for compensation: (a) time entries for conferences and telephone calls should identify the participants and the primary subject of the communication; (b) time entries for legal research should describe the research topic; (c) time entries for drafting or reviewing documents should identify the document involved by title or subject matter; and (d) travel time shall be limited to 50% of the Professional's hourly rate; provided that actual work performed during travel shall be excluded from this limitation. Travel time between St. Louis County and the City of St. Louis shall not be compensated. III. REIMBURSEMENT OF EXPENSES 6. For all expenses in excess of $25, receipts or other supporting documentation must be retained by the Professional. Except upon further order of the Court and subject to the provisions of the preceding sentence, monthly statements and interim fee applications need not include copies of receipts, except that copies of receipts shall be forwarded to the U.S. Trustee as part of the interim applications. 7. Reasonable and necessary expenses incurred by Professionals and Committee members shall be reimbursed to the Professionals and Committee members from the 3 American LegalNet, Inc. Debtors' estates in accordance with paragraph 9 hereof. Such reasonable and necessary expenses may include, without limitation, the following expenses: As to Professionals: (a) General Expenses (i) (ii) copying/duplication costs (not to exceed 20¢/page);1/ long-distance telephone charges; (iii) postage; (iv) computer research, including Lexis and Westlaw;2/ (v) telecopier (telefax) communication charges;3/ (vi) Federal Express and other similar express mail delivery services;4/ (vii) computerized support services and word processing;5/ (viii) messenger services;6/ (ix) Deposition and hearing transcript fees; (x) Filing fees; (xi) Witness fees; and (xii) Summons and service of process fees. As to Professionals and Committee Members: 1/ For large copying projects, professionals are urged to utilize commercial copying services. The time entry of the Professional performing computer research shall specifically identify the research as computer research. These charges should reasonably relate to the cost of the communication. Such services should be utilized only when reasonably necessary under the circumstances of the particular communication. Such expenses shall not include any component for secretarial time, nor any component not otherwise regularly charged to clients of that firm. Such services should be utilized only when reasonably necessary under the circumstances of the particular communication. 2/ 3/ 4/ 5/ 6/ 4 American LegalNet, Inc. (b) Travel Expenses (i) (ii) reasonable meal costs;7/ reasonable lodging charges;7/ (iii) transportation; (a) air: coach class; (b) mile

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