Creditors committee lawyer demands $65,124

Posted on Jul 02 2012

Tag: District Court, Don Jeffrey Gelber, Fund Chapter, Gelber Ingersoll

The Hawaii-based counsel for the Official Committee of Unsecured Creditors is demanding $65,124.61 in payment from the NMI Retirement Fund for its participation in the Fund’s Chapter 11 bankruptcy case.

Committee counsel Don Jeffrey Gelber asked the U.S. District Court for the NMI Bankruptcy Division yesterday to approve $64,642.71 (including Hawaii general excise tax) in compensation to his law firm, Gelber, Gelber & Ingersoll, plus reimbursement of $481.90 in expenses, for a total of $65,1245.61.

Gelber said the compensation covers the period from May 11, 2012, through June 27, 2012.

He is also seeking payments for services performed and costs advanced from June 28, 2012, until the date of the hearing on the application.

Because of the hardship to retirees and other Fund beneficiaries caused by the Fund’s insolvency, Gelber said that the law firm has agreed that it’s hourly rate for him as lead attorney would be reduced from $450 to $360 per hour.

By Ferdie de la Torre
Reporter

Ferdie De La Torre | Reporter

Ferdie Ponce de la Torre is a senior reporter of Saipan Tribune. He has a bachelor’s degree in journalism and has covered all news beats in the CNMI. He is a recipient of the CNMI Supreme Court Justice Award. Contact him at ferdie_delatorre@Saipantribune.com

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