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

Case 1:02-cv-02232-PSF-PAC

Document 447

Filed 12/28/2005

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IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLORADO Civil Action No. 02-cv-2232 ­ PSF - PAC ROBERT STUDER, derivatively on behalf of eVISION INTERNATIONAL, INC., et al., Plaintiffs, v. HENG FUNG HOLDINGS LIMITED, a public company in Hong Kong, et al., Defendants, and EVISION INTERNATIONAL, INC., a Colorado corporation, Nominal Defendant. UNOPPOSED MOTION REQUESTING APPROVAL OF FINAL ADMINISTRATIVE EXPENSES, FINAL REPORT ON DISBURSEMENTS, AND FINAL DISBURSEMENT TO EVISION

Plaintiffs and all Defendants, by and through their counsel, hereby request pursuant to the Settlement Agreement filed in this matter and/or the November 15, 2005 Order on Settlement and Entry of Final Judgment, that this Court first grant final approval for payment of additional administrative expenses as detailed below, then grant final approval for the Settlement Fund ("Fund") balance to be disbursed to eVision International, Inc. ("eVision") no later than December 30, 2005, and order the Fund to be closed no later than that date. 1. Counsel for all parties have conferred per D.C. COLO LCivR 7.1A, and all support this Motion. 2. On November 15, 2005 this Court entered an Order granting Final Approval to the Settlements and Entry of Judgment with approval of

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attorneys fees and other payments from the Settlement Fund. A November 29, 2005 Order authorized final attorney expense reimbursements nunc pro tunc November 15, 2005. 3. The parties have received additional invoices from the Settlement administrator, Strategic Claims, related to Administrative Expenses totaling $2,996.25, including the fee for preparation of all applicable tax returns and Forms 1099 by the Administrator as set forth in Paragraph 32 of the Settlement Agreement. (See Ex. B. The Escrow Agent further advises there will be an additional charge of $175 for preparing tax form 1041 which should be paid from the Fund.) 4. The Parties have been advised that from tax return and administrative expense perspectives they can minimize expenses and limit the Fund to a one-year existence if all expenses can be approved and paid, all funds are disbursed, and the Fund closed out by the end of this calendar year. 5. Therefore, the Parties request that this Court order the Escrow Agent to disburse to Strategic Claims, no later than December 30, 2005, the amount of $2,996.25 for administrative expenses, including expenses in connection with the filing of all applicable 2005 tax returns and to disburse $175 to itself for Form 1041 preparation and filing. 6. Attached as Ex. A is the Final Accounting of Disbursements, summarizing all disbursements to date and served on all Parties. This Final Accounting fulfills the requirement set forth in D3 and E3 of the November 15, 2005

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Order for Plaintiffs' counsel to provide such an accounting to the Defendants and file the same with this Court. 7. The final sentence of D2 on page 10 of the November 15, 2005 Order calls for the Fund balance to remain in escrow "until such time as the Court orders the Net Settlement Fund paid to eVision or such Other Persons as the Court directs." 8. The Parties have fulfilled all requirements to date of the Settlement Agreement. On December 20, 2005 Online Credit Limited, parent of eVision authorized its transfer agent to transfer 6% of the stock of eBanker to eVision as called for in the Settlement Agreement. See Ex. C. Therefore, the Parties jointly request that the Fund balance be disbursed to eVision no later than December 30, 2005 and that the Fund be closed. Given that all the requirements set forth in the Settlement Agreements and in the settlement Orders of this Court that are required to be completed by now have been or will be completed by Friday, December 30, 2005, the Parties request that the Court authorize the Escrow Agent to disburse the remaining administrative expenses of $2,996.25 and $175.00, and then issue a check for the balance in the Fund to payee eVision International, Inc., and order the Escrow Agent to close the Escrow Account by December 31, 2005. A Proposed Order is attached. Dated: December 28, 2005 Respectfully Submitted, _s/Charles W. Lilley/________ _s/Karen Cody-Hopkins/_____ Charles W. Lilley Karen Cody-Hopkins # 35367 LILLEY & GARCIA, LLP

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1600 Stout Street, Suite 1100 Denver, Colorado 80202 T: (303) 293-9800 F: (303) 298-8975 E: [email protected]

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CERTIFICATE OF SERVICE (CM/ECF) The undersigned hereby certifies that on December 28, 2005, I electronically filed a copy of the foregoing UNOPPOSED MOTION REQUESTING APPROVAL OF FINAL ADMINISTRATIVE EXPENSES, FINAL REPORT ON DISBURSEMENTS, AND FINAL DISBURSEMENT TO EVISION using the CM/ECF system which will send notification of such filing to the following counsel via their emails on file with the U.S. District Court for the District of Colorado's CM/ECF system and certify there are no non-CM/ECF parties who require service or notice of this filing:
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Thomas D. Birge [email protected] [email protected] Leah E. Capritta [email protected] [email protected] Carolyn J. Fairless [email protected] [email protected] Stephen D. Gurr [email protected] [email protected] Allan L. Hale [email protected] [email protected] Thomas E.J. Hazard [email protected] John M. Husband [email protected] Scott Ari Hyman [email protected] Thomas D. Leland [email protected] Monica Kathleen Loseman [email protected] [email protected];[email protected] Carla B. Minckley [email protected] [email protected] Michael L. O'Donnell [email protected] [email protected] Michelle B. Roche [email protected] [email protected] Michael T. Williams [email protected] [email protected] _s/_Karen Cody-Hopkins_____ Karen Cody-Hopkins Lilley & Garcia, LLP 1600 Stout Street, Suite 1100 5

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Denver, CO 80126 T: 303-293-9800 F: 303-298-8975 E: [email protected]

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