Trustee s First Interim Application for Compensation and Expenses

Transcription

1 Case Document 3426 Filed in TXSB on 12/17/14 Page 1 of 8 IN THE UNITED STATES BANKRUPTCY COURT FOR THE SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION IN RE: ATP OIL & GAS CORPORATION, DEBTOR CASE NO H1-7 (CHAPTER 7) JUDGE MARVIN ISGUR Trustee s First Interim Application for Compensation and Expenses **************************************************************************** THIS MOTION SEEKS AN ORDER THAT MAY ADVERSELY AFFECT YOU. IF YOU OPPOSE THE MOTION, YOU SHOULD IMMEDIATELY CONTACT THE MOVING PARTY TO RESOLVE THE DISPUTE. IF YOU AND THE MOVING PARTY CANNOT AGREE, YOU MUST FILE A RESPONSE AND SEND A COPY TO THE MOVING PARTY. YOU MUST FILE AND SERVE YOUR RESPONSE WITHIN 21 DAYS OF THE DATE THIS WAS SERVED ON YOU. YOUR RESPONSE MUST STATE WHY THE MOTION SHOULD NOT BE GRANTED. IF YOU DO NOT FILE A TIMELY RESPONSE, THE RELIEF MAY BE GRANTED WITHOUT FURTHER NOTICE TO YOU. IF YOU OPPOSE THE MOTION AND HAVE NOT REACHED AN AGREEMENT, YOU MUST ATTEND THE HEARING. UNLESS THE PARTIES AGREE OTHERWISE, THE COURT MAY CONSIDER EVIDENCE AT THE HEARING AND MAY DECIDE THE MOTION AT THE HEARING. REPRESENTED PARTIES SHOULD ACT THROUGH THEIR ATTORNEY. *************************************************************************** TO THE HONORABLE MARVIN ISGUR, UNITED STATES BANKRUPTCY JUDGE: Rodney Tow, chapter 7 trustee for the estate of ATP Oil & Gas Corporation and files this Trustee s First Interim Application for Compensation and Expenses to request compensation and reimbursement of expenses pursuant to 11 U.S.C. 330(a)(1) and (a)(7). In support of the Trustee s Application, the trustee submits the following information: 1. On June 26, 2014, the Trustee was duly appointed as the chapter 7 Trustee. 2. The Trustee has not yet filed the Trustee s Final Report or the Notice of Trustee s Final Trustee s First Application for Compensation Page 1 R:\Rodney Tow PLLC\A\ATP-T\Fee Applications\Fee Application Interim Trustee wpd

2 Case Document 3426 Filed in TXSB on 12/17/14 Page 2 of 8 Report. The Trustee cannot file his final report until he is able to recover the remaining assets of the estate which include extensive litigation. 3. The following is a summary of the receipts and distributions of the estate: a. The receipts deposited into the estate s accounts total $3,694, b. The Trustee is entitled to compensation based on distributions previously made in this case totaling $870, as of December 16, 2014 and an anticipated distribution of $2,291, to the DIP Agent and First Pacific Advisors, LLC, one or more of its affiliated and managed funds, and/or any other holder of the Prepetition Second Lien Notes that is a member of the Ad Hoc Second Lien Committee (collectively, the Funding Parties ). The Trustee filed his Motion for Order Authorizing Distributions To Dip Agent and Funding Parties on December 15, 2014 (Docket No. 3424). That Motion requests authorization to pay $2,291, Pursuant to 11 U.S.C. 326(a), the maximum compensation allowable to the Trustee based on the previous distribution of $870, and the anticipated distribution to the DIP Agent and Funding parties in the amount of $2,291, is $118, The Trustee compensation resulting related to the anticipated distribution to the DIP Agent and Funding Agent will not occur until the distributions are actually made. Further, in the event the DIP Agent and Funding Agent distributions are not $2,291,556.08, the Trustee will adjust his compensation accordingly. Trustee s First Application for Compensation Page 2 R:\Rodney Tow PLLC\A\ATP-T\Fee Applications\Fee Application Interim Trustee wpd

3 Case Document 3426 Filed in TXSB on 12/17/14 Page 3 of 8 6. The breakdown of the fees is as follow: a. Previous Distributions: $46, b. DIP/Funding Parties Distribution: $71, The Trustee has not requested an interim distribution prior to this Application. 8. A copy of the Trustee s Form 2 which itemizes deposits and disbursements is attached as Exhibit In addition, the Trustee requests $44.20 for reimbursement of reasonable and necessary expenses incurred in the administration of the estate. See attached Exhibit 2 for an itemization of the Trustee s expenses. 10. The Trustee certifies that: a. The Trustee submitted a copy of this application to the United States Trustee before it was filed. b. The United States Trustee has: i. X Notified the Trustee that the United States Trustee has no objection to the relief requested in this application. ii. Notified the Trustee that the United States Trustee objects to the relief requested in this application and intends to file an objection unless an amended application is filed within twenty-one (21 days). iii. Failed to respond to the Trustee within sixty (60) days of 1 Based on 11 U.S.C. 326: 25% of $5,000, 10% of $45,000, and 5% of $820, Based on 11 U.S.C. 326: 5% of $129,478.32, and 3% of $2,162, Trustee s First Application for Compensation Page 3 R:\Rodney Tow PLLC\A\ATP-T\Fee Applications\Fee Application Interim Trustee wpd

4 Case Document 3426 Filed in TXSB on 12/17/14 Page 4 of 8 the date on which a copy of this application was submitted to the United States Trustee. The chapter 7 Trustee requests approval of an interim distribution of $118, in compensation and $44.20 in reimbursement of expenses. Respectfully submitted this 17 th day of December, Rodney Tow, PLLC By: Rodney Tow Rodney Tow, Trustee SBA# Fed. ID Oak Ridge Drive The Woodlands, TX (Telephone) rtow@towkoenig.com CERTIFICATE OF SERVICE I hereby certify that true and correct copies of the Application for Trustee s First Interim Compensation and Expenses was served on Debtor, Debtor s counsel, the United States Trustee, and all of the parties listed on the attached service list by first class mail, postage prepaid, or by ECF transmission on the 17 th day of December, SEE ATTACHED SERVICE LIST Rodney Tow Rodney Tow, Trustee Trustee s First Application for Compensation Page 4 R:\Rodney Tow PLLC\A\ATP-T\Fee Applications\Fee Application Interim Trustee wpd

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9 Case Document Filed in TXSB on 12/17/14 Page 1 of 4 Exhibit 1 Trustee Motion for Interim Distribution

10 Case Document Filed in TXSB on 12/17/14 Page 2 of 4 Exhibit 1 Trustee Motion for Interim Distribution

11 Case Document Filed in TXSB on 12/17/14 Page 3 of 4 Exhibit 1 Trustee Motion for Interim Distribution

12 Case Document Filed in TXSB on 12/17/14 Page 4 of 4 Exhibit 1 Trustee Motion for Interim Distribution

13 Case Document Filed in TXSB on 12/17/14 Page 1 of 1 TOW & KOENIG, PLLC ATTORNEYS AT LAW OAK RIDGE DRIVE THE WOODLANDS, TX Invoice submitted to: ATP-TRUSTEE ASSET October 20, 2014 Additional Charges : Qty/Price Amount 7/21/ RDT BREAKFAST MEETING WITH POTENTIAL PURCHASER OF THE CORPORATE SHELL. COST OF MEAL /8/ RDT PARKING RDT PARKING RDT PURCHASE OF EXTERNAL HARD DRIVE RDT BBQ LUNCH FOR ATP MEETING SZ BACK-UPS /11/ SZ BACK-UPS DRIVES Total costs $ $44.20 Exhibit 2 Trustee Motion for Interim Distribution

14 Case Document Filed in TXSB on 12/17/14 Page 1 of 1 IN THE UNITED STATES BANKRUPTCY COURT FOR THE SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION IN RE: ATP OIL & GAS CORPORATION, DEBTOR CASE NO H1-7 (CHAPTER 7) JUDGE MARVIN ISGUR Order Approving Trustee s First Interim Application for Compensation and Expenses The Trustee s First Interim Application for Compensation and Expenses came before the Court. No objections have been filed to the Application. It is therefore, Ordered that Rodney Tow, Trustee is allowed interim compensation in the amount of $118, based on prior distributions of $870, and an anticipated distribution to the DIP Agent and Funding Agent of $2,291,556.08; it is further Ordered that if the DIP Agent and Funding Agent distributions are not $2,291,556.08, the Trustee will adjust his compensation accordingly. Ordered that Rodney Tow, Trustee is allowed $44.20 as a reimbursement of expenses. Signed this day of, Marvin Isgur United States Bankruptcy Judge Order Regarding Trustee s First Interim Application for Compensation Page 1 R:\Rodney Tow PLLC\A\ATP-T\Fee Applications\Fee Application Interim Trustee wpd