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Settlement Fund trustee’s $53,528 billing is approved
U.S. District Court for the NMI designated judge Frances Tydingco-Gatewood has found reasonable the request for compensation and reimbursement of expenses in the amount of $53,528 filed by Settlement Fund trustee Joyce C.H. Tang that were incurred for a three-month period.
In an order on Thursday, Tydingco-Gatewood directed the Settlement Fund to pay Tang $48,771.80, which represents 90 percent of her professional fees and 100 percent of all expenses incurred from May through July 2015.
The judge further ordered the Settlement Fund to hold in trust to the credit of Tang the sum of $4,756.20, which represents 10 percent of the trustee’s professional fees for this 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 $12,218.80 for professional services and expenses for May; $17,447.40 for June; and $23,861.80 for July, for a total of $53,528.
Tydingco-Gatewood said she has reviewed the invoices and finds Tang’s request for compensation and reimbursement of expenses to be reasonable.
“The court is satisfied with the work performed by the trustee during this time frame,” Tydingco-Gatewood said.
Last June, the judge approved Tang’s request for compensation and reimbursement of expenses in the amount of $69,806.10 for a six-month period, from November 2014 to April 2015.
