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Tang bills Settlement Fund $121,834 for 5-month time
Judge says Tang’s request for compensation reasonable
U.S. District Court for the NMI designated judge Frances Tydingco-Gatewood yesterday ordered the Settlement Fund to pay its trustee, Joyce C. H. Tang, $121,834.48 for professional services and expenses incurred from June to October 2014.
Tydingco-Gatewood said the amount represents 90 percent of professional fees and 100 percent of all expenses incurred during the five-month period.
The Settlement Fund was also directed to hold in trust for Tang $12,405.75, which represents 10 percent of her professional fees for that period. The judge said Tang may petition for the release of the 10 percent retainage every three months.
Tang asked for compensation in the amounts of $122,182.50 for professional services and $10,411.84 for expenses, for a total of $132,594.34 for the five-month period.
Tang’s professional services quadrupled from June 2014 to October 2014.
For June, the professional services was $9,932.50; for July, $18,720; for August, $21,462.50; for September, $35,705; and for October, $36,362.50; for a total of $122,182.50.
For expenses, the amount also increased significantly from $261.58 in June to $6,477.06 in October. For July, expenses was $727.01; for August, $452.70; and for September, $2,493.49.
The judge said she reviewed the invoices and finds them reasonable.
“The court is satisfied with the work performed by the trustee during this time frame,” she said.
Last October, Tydingco-Gatewood ordered the Settlement Fund to pay Tang $39,656.80 for professional services and expenses for March to May 2014. Last April, the judge also ordered the Settlement Fund to pay Tang $25,634.25 covering the months of January and February 2014.
