Free Motion for Disbursement of Funds - District Court of Colorado - Colorado

Case 1:01-cv-00645-JLK

Document 156

Filed 04/17/2007

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IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLORADO

Civil Action No. 01-cv-645-JLK SECURITIES AND EXCHANGE COMMISSION Plaintiff, v. KENNETH ROY WEARE a/k/a ROY WEAVER, J&K GLOBAL MARKETING CORPORATION, and AAA-AUCTION.COM, INC., Defendants.

MOTION FOR PAYMENT OF RECEIVER'S FEES AND EXPENSES

Patten, MacPhee & Associates, Inc., the Court-appointed Receiver, by and through its attorney, hereby moves the Court for an order approving payment in the amount of $34,583.85 for the Receiver's professional fees and out-of-pocket expenses during the three-month period from January 1, 2007 through March 31, 2007, from funds held in the registry of the Court under this case name and number. In support thereof, the Receiver states as follows: 1. As set forth in the Receiver's Sixth Application for Fees and Expenses (including

exhibits and attachments), attached hereto, the Receiver's employees expended a total of 366.3 hours, for which the Receiver seeks payment in the amount of $23,132.50. In addition, the Receiver incurred out-of-pocket expenses in the amount of $11,451.35 during the period of time covered by its fee application, for which it seeks reimbursement.

Case 1:01-cv-00645-JLK

Document 156

Filed 04/17/2007

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2.

The Receiver's fees and expenses were reasonable and necessary to the performance

of its duties set forth in the Court's Order Appointing Receiver dated October 26, 2005. 3. As discussed in Paragraph 7 of the attached fee application, the total amount

requested by the Receiver for both professional fees and expenses has exceeded the Receiver's initial estimate of such fees and expenses set forth in its September 23, 2005 proposal in response to the SEC's request for proposals ("RFP"). In its Fifth Application for Fees and Expenses dated January 31, 2007, the Receiver estimated its fees and out-of-pocket expenses, going forward from December 31, 2006, would total between $40,000 and $60,000. As of the date of this fee application, the Receiver appears to be on-target to complete this project within that range, while remaining committed to providing high quality professional services. 4. Pursuant to D.C.COLO.LCIVR 7.1.A, the undersigned has conferred with counsel

for the SEC regarding the matters set forth in this motion and the attached fee application, and the SEC has expressed no objection to the request for fees and expenses set forth in this motion. 5. Counsel for the SEC previously advised the Receiver that the Court's order approving

payment of the Receiver's fees and expenses should include language stating that such amounts are to be paid first from interest earned, rather than from principal. WHEREFORE, the Receiver respectfully requests that the Court enter an order granting this motion and directing the Clerk of the Court to pay $34,583.85 to the order of Patten, MacPhee & Associates, Inc., drawn first from the interest portion of the funds held in the registry of the Court under this case name and number.

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Case 1:01-cv-00645-JLK

Document 156

Filed 04/17/2007

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DATED this 17th day of April, 2007.

s/ Michael D. Burns Michael D. Burns, #11631 1775 Sherman Street, Suite 2900 Denver, Colorado 80203 Telephone: (303) 296-2900 FAX: (303) 296-4475 E-mail: [email protected] Attorney for Receiver

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Case 1:01-cv-00645-JLK

Document 156

Filed 04/17/2007

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CERTIFICATE OF SERVICE I hereby certify that on April 17, 2007, I electronically filed the foregoing MOTION FOR PAYMENT OF RECEIVER'S FEES AND EXPENSES with the Clerk of the Court using the CM/ECF system, which will send notification of such filing to the following e-mail addresses: Leslie J. Hughes [email protected] Christine J. Jobin [email protected] Thomas J. Krysa [email protected],[email protected]

s/ Michael D. Burns Michael D. Burns, #11631 Attorney for Receiver 1775 Sherman Street, Suite 2900 Denver, Colorado 80203 Telephone: (303) 296-2900 FAX: (303) 296-4475 E-mail: [email protected]