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Payment of over $36K to Settlement Trustee OK’d
U.S. District Court for the NMI designated Judge Frances M. Tydingco-Gatewood approved yesterday the payment of $36,500.94 to the Settlement Fund trustee for professional services and expenses incurred for a 10-month period in 2016.
Saying she is extremely satisfied with the work performed by Trustee’s principal representative Joyce C.H. Tang, Tydingco-Gatewood in a separate order yesterday ordered the Settlement Fund to pay Trustee Tang from the funds being held in the trust in the sum of $5,294.52 incurred for September 2015 to February 2016.
The $5,294.52 is the total amount ordered retained by the court for Tang’s monthly professional fees billed during the period beginning September 2015 through February 2016.
With respect to the $36,500.94 payment, the judge said she reviewed the invoices and finds Tang’s request for compensation and reimbursement of expenses to be reasonable.
Tydingco-Gatewood said she is satisfied with Tang’s work performed during this time frame.
The judge said the $36,500.94 represents 90 percent of the professional fees and 100 percent of all expenses incurred during the months of Feb. 2016 through Nov. 2016.
Tydingco-Gatewood ordered the Settlement Fund to hold in trust to the credit of the Trustee the sum of $4,015.25, which represents 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 the Trustee’s work and any objections to the compensation requests.
Last June, Tydingco-Gatewood ordered the Settlement Fund to pay the Trustee $39,196.92 to for professional services and expenses incurred for a four-month period, October 2015 through January 2016.
