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FOR SIX-MONTH PERIOD
Judge OKs $69K compensation, expenses for Trustee
U.S. District Court for the NMI designated judge Frances Tydingco-Gatewood has found as reasonable the request for compensation and reimbursement of expenses in the amount of $69,806.10 filed by Settlement Fund Trustee Joyce C.H. Tang incurred for a six-month period.
Tydingco-Gatewood in an order issued on Wednesday directed the Settlement Fund to pay Tang $63,286.10, which represents 90 percent of the professional fees and 100 percent of all expenses incurred during the months of November 2014 through April 2015.
The judge further ordered the Settlement Fund to hold in trust to the credit of Trustee Tang the sum of $6,520, which represents 10 percent of the Trustee’s professional fees for this time period.
Tydingco-Gatewood said Tang may petition for release of the 10 percent retainage on a quarterly basis, subject to the court’s satisfaction of the Trustee’s work and any objections to the Trustee’s compensation requests.
Tang requested for compensation in the amounts of $7,248.31 in professional services and expenses for November 2014; $11,856.86 for December 2014; $11,122 for January 2015; $7,401.43 for February 2015; $20,211.02 for March 2015; and $11,966.48 for April 2015, or for a total of $69,806.10.
Tydingco-Gatewood said the court is satisfied with the work performed by the Trustee during this six-month period.
Last December, the judge approved Tang’s request for compensation and reimbursement of expenses in the amount of $132,594.34 for a five-month period or for the months of June to October 2014.
