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Judge OKs $19.5K payment to Settlement Fund trustee
U.S. District Court for the NMI designated Judge Frances M. Tydingco-Gatewood has approved the payment of $19,563 to the Settlement Fund’s trustee for professional services and expenses incurred for the last five months.
Tydingo-Gatewood also granted trustee representative Joyce C. H. Tang’s petition for release of $5,530, which represents the 10-percent retainer withheld from its invoices for services rendered and expenses incurred from April to November in 2018.
Tydingco-Gatewood said she has reviewed the trustee’s invoices for January to May this year and finds the 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,” said the judge as she ordered the Settlement Fund on Monday to pay the trustee $17,633.
This amount, Tydingco-Gatewood said, represents 90 percent of the trustee’s professional fees and all expenses incurred from December 2018 through April 2019.
She said the invoices were dated January to May 2019.
The Settlement Fund was ordered to hold in trust to the credit of the trustee $1,930, which represents 10 percent of the trustee’s professional fees for this time period.
The trustee may petition for release of this 10-percent retainer every quarter, subject to the court’s satisfaction of the trustee’s work and any objections to the trustee’s compensation requests.
Last January, Tang was paid $50,851 for her services from May to December last year.
