Free Motion for Disbursement of Funds - District Court of Colorado - Colorado

Case 1:01-cv-00645-JLK

Document 194

Filed 10/12/2007

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IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLORADO

Civil Action No. 01-cv-645-JLK SECURITIES AND EXCHANGE COMMISSION Plaintiff, v. KENNETH ROY WEARE a/k/a ROY WEAVER, J&K GLOBAL MARKETING CORPORATION, and AAA-AUCTION.COM, INC., Defendants.

MOTION FOR PAYMENT OF RECEIVER'S FEES AND EXPENSES

Patten, MacPhee & Associates, Inc., the Court-appointed Receiver, by and through its attorney, hereby moves the Court for an order approving payment in the amount of $46,000.52 for the Receiver's professional fees and out-of-pocket expenses during the three-month period from July 1, 2007 through September 30, 2007, from funds held in the registry of the Court under this case name and number. In support thereof, the Receiver states as follows: 1. As set forth in the Receiver's Eighth Application for Fees and Expenses (including

exhibits and attachments), attached hereto, the Receiver's employees expended a total of 246.7 hours during the calendar quarter covered by this fee application, for which the Receiver seeks payment in the amount of $34,259.00. In addition, the Receiver incurred out-of-pocket expenses in the amount of $11,741.52 during the period of time covered by its fee application.

Case 1:01-cv-00645-JLK

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Filed 10/12/2007

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2.

The Receiver's fees and expenses were reasonable and necessary to the performance

of its duties set forth in the Court's Order Appointing Receiver dated October 26, 2005. 3. Pursuant to D.C.COLO.LCivR 7.1.A, the undersigned e-mailed a draft of the attached

fee application, with exhibits and attachments, to counsel for the SEC, Leslie Hughes, on Monday, October 8, 2007. Previously, Ms. Hughes had informed the undersigned that October 8 was a federal holiday and that her availability to confer regarding any matter during the balance of the week of October 8 may be very limited, due to her preparation for an out-of-state trial. Given that a hearing has been scheduled in this matter for the afternoon of Monday, October 15, 2007, the undersigned told Ms. Hughes that he would, nevertheless, file this motion with the Court on Friday, October 12, 2007, so that the Court would be aware of its existence and content at the time of the October 15 hearing. As of the time of filing this motion, the undersigned has not heard from Ms. Hughes as to whether she opposes any part of this motion. Given Ms. Hughes' schedule this past week, however, she may not have had an opportunity to thoroughly review the attached fee application. 4. Counsel for the SEC previously advised the Receiver that the Court's order approving

payment of the Receiver's fees and expenses should include language stating that such amounts are to be paid first from interest earned, rather than from principal. WHEREFORE, the Receiver respectfully requests that the Court enter an order granting this motion and directing the Clerk of the Court to pay $46,000.52 to the order of Patten, MacPhee & Associates, Inc., drawn first from the interest portion of the funds held in the registry of the Court under this case name and number.

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Case 1:01-cv-00645-JLK

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DATED this 12th day of October, 2007.

s/ Michael D. Burns Michael D. Burns, #11631 1775 Sherman Street, Suite 2900 Denver, Colorado 80203 Telephone: (303) 296-2900 FAX: (303) 296-4475 E-mail: [email protected] Attorney for Receiver

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Case 1:01-cv-00645-JLK

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Filed 10/12/2007

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CERTIFICATE OF SERVICE I hereby certify that on October 12, 2007, I electronically filed the foregoing MOTION FOR PAYMENT OF RECEIVER'S FEES AND EXPENSES with the Clerk of the Court using the CM/ECF system, which will send notification of such filing to the following e-mail addresses: Leslie J. Hughes [email protected] Christine J. Jobin [email protected] Thomas J. Krysa [email protected],[email protected]

s/ Michael D. Burns Michael D. Burns, #11631 Attorney for Receiver 1775 Sherman Street, Suite 2900 Denver, Colorado 80203 Telephone: (303) 296-2900 FAX: (303) 296-4475 E-mail: [email protected]