Trustee seeks $75 000 for Ada’s Inc. workload

April 18 2005

Journal Staff

Trustee for the Ada’s Inc. bankruptcy case George M. Butler attorney and partner in the law firm Butler Telford & Butler on March 2 submitted requests to the District Court of Guam for compensation for work he conducted on the case.

The document submitted is the “Chapter 11 Trustee’s Second Interim Application for Allowance of Trustee’s Attorney’s Compensation” a declaration and a “Chapter 11 Trustee’s Application for Reimbursement of Trustee’s Expenses”.

In the second interim application Butler called on the court to allow the “Trustee to pay the second interim application for Trustee’s attorneys compensation from Oct. 16 2004 to Feb. 28 2005 in the total amount of $11 585.60 in professional fees”.

In the declaration Butler filed with the court he indicated “On Dec. 13 2004 this Court approved Butler Telford & Butler’s First Application for Interim Compensation in the amount of $41 017.60.”

In the application for reimbursement Butler is asking the court “Trustee to reimburse the expenses advanced by Chapter 11 Trustee from Oct. 16 2004 to Feb. 28 2005 in the total amount of $22 004.72”.

By the figures indicated in these court documents the amounts totaled $74 607.92 for the work conducted on the Ada’s Inc. case.

In November 2004 Calvo and Clark attorneys for the shareholders of Ada’s Inc. who fought the liquidation successfully asked for their fees to be sealed despite the objection of the Journal. MBJ