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Judge ‘extremely satisfied’ with Tang’s performance
Tydingco-Gatewood OKs trustee’s payment of $15,425 compensation for 2 months
U.S. District Court for the NMI designated judge Frances Tydingco-Gatewood has ordered the Settlement Fund to pay its trustee, Joyce C. H. Tang, $13,948.07 in compensation and reimbursement for expenses incurred in August and September 2015.
Tydingco-Gatewood said she has reviewed the invoices and finds Tang’s request for compensation and reimbursement to be reasonable. The judge said she is satisfied with Tang’s performance during this time frame.
The $13,948.07 represents 90 percent of the professional fees and 100 percent of all expenses incurred in August and September 2015.
In a separate order last week, Tydingco-Gatewood also ordered the Settlement Fund to pay Tang from the funds being held in trust the sum of $11,276.20 for the period from November 2014 through July 2015.
Tydingco-Gatewood said she is extremely satisfied with the work performed by the trustee and noted that none of the parties in the case have objected to Tang’s compensation requests.
On trustee’s invoices for August and September 2015, the judge approved Tang’s request for payment of $7,536.32 and $7,888.88 in professional services and expenses for August and September 2015 respectively, for a total of $15,425.20.
Tydingco-Gatewood further ordered the Settlement Fund to hold in trust to the credit of the trustee the $1,477.13, which represents 10 percent of the trustee’s professional fees for this time period.
The trustee may petition for release of the 10 percent retainage on a quarterly basis, subject to the court’s satisfaction of Tang’s work and any objections to the trustee’s compensation requests.
