ITNUED STATES BAPTCYURN CTRU - kccllc.net
Transcript of ITNUED STATES BAPTCYURN CTRU - kccllc.net
UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK
) Chapter 11 In re: )
) Case No. 20-12212 (MEW) GARRETT MOTION INC., et al.,1 )
) Jointly Administered Debtors. )
___________________________________ )
NOTICE OF FEE STATEMENT
PLEASE TAKE NOTICE that on the date hereof, KPMG LLP (Canada) (“KPMG
(Canada)”), filed the First Monthly Fee Statement of KPMG LLP (Canada) for Compensation
for Professional Services Rendered and Reimbursement of Expenses Incurred as Quality of
Earnings Advisor to The Official Committee of Equity Securities Holders for the Period of
January 22, 2021 Through February 28, 2021 (the “Monthly Fee Statement”)2 with the United
States Bankruptcy Court for the Southern District of New York (the “Court”).
PLEASE TAKE FURTHER NOTICE that any responses or objections (the
“Objections”) to the Monthly Fee Statement shall (i) be made in writing, (ii) conform to the Federal
Rules of Bankruptcy Procedure and the Local Bankruptcy Rules for the Southern District of New
York, (iii) be filed with the Clerk of the Court in accordance with the customary practices of the
Court and General Order M-399, and (iv) be served upon and received by Glenn Agre Bergman &
Fuentes LLP, 55 Hudson Yards, 20th Floor, New York, NY 10001 (Attn: Andrew K. Glenn, Jed I.
1 The last four digits of Garrett Motion Inc.’s tax identification number are 3189. Due to the large number of debtor entities in these Chapter 11 Cases, which are being jointly administered, a complete list of the Debtors and the last four digits of their federal tax identification numbers is not provided herein. A complete list of such information may be obtained on the website of the Debtors’ claims and noticing agent at http://www.kccllc.net/garrettmotion. The Debtors’ corporate headquarters is located at La Pièce 16, Rolle, Switzerland. 2 Capitalized terms used but not otherwise defined herein shall have the meaning ascribed to them in the Monthly Fee Statement.
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Bergman, and Shai Schmidt) and KPMG (Canada), Bay Adelaide Centre, 333 Bay Street, Suite
4600, Toronto, ON M5H 2S5 (Attn: Peter J. Graham), in accordance with General Order M-
399, no later than April 6, 2021 (the “Objection Deadline”).
PLEASE TAKE FURTHER NOTICE that in accordance with the Order Pursuant to
Sections 105(a) and 331 of the Bankruptcy Code, Bankruptcy Rule 2016 and Local Rule 2016-
1 Establishing Procedures for Monthly Compensation and Reimbursement of Expenses of
Professionals [Dkt. No. 291] (the “Interim Compensation Order”), if no Objection to the
Monthly Fee Statement is filed and served by the Objection Deadline, KPMG (Canada) shall be
promptly paid eighty percent (80%) of the fees and one hundred percent (100%) of the expenses
requested in the Monthly Fee Statement.
PLEASE TAKE FURTHER NOTICE that if an Objection to the Monthly Fee
Statement is filed and served by the Objection Deadline, KPMG (Canada) shall not be paid that
portion of the requested fees or expenses to which such Objection is directed but shall be
promptly paid the remainder of the fees and expenses in the percentages set forth above, unless
KPMG (Canada) seeks an order from the Court, upon notice and a hearing, directing such
payment to be made. If KPMG (Canada) and the objecting party are able to resolve their dispute
and KPMG (Canada) files a statement indicating that the Objection is withdrawn and describing
in detail the terms of the resolution, then KPMG (Canada) shall be promptly paid that portion of
the Monthly Fee Statement which is no longer subject to an Objection. All Objections that are
not resolved by the parties or Court order shall be preserved and presented to the Court at the
next interim or final fee application hearing.
PLEASE TAKE FURTHER NOTICE that copies of the Monthly Fee Statement may
be obtained from the Court’s website, https://ecf.nysb.uscourts.gov, for a nominal fee or obtained
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free of charge by accessing the website of the Debtors' claims and noticing agent,
http://www.kccllc.net/garrettmotion.
Dated: March 23, 2021 By: /s/ Peter J. Graham
Peter J. Graham Partner, Advisory Transaction Services, Toronto KPMG LLP (Canada)
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Objection Deadline: April 6, 2021
UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK
) Chapter 11 In re: )
) Case No. 20-12212 (MEW) GARRETT MOTION INC., et al.,1 )
) Jointly Administered Debtors. )
___________________________________ )
FIRST MONTHLY FEE STATEMENT OF KPMG LLP (CANADA) FOR COMPENSATION FOR PROFESSIONAL SERVICES RENDERED AND
REIMBURSEMENT OF EXPENSES INCURRED AS QUALITY OF EARNINGS ADVISOR TO THE OFFICIAL COMMITTEE OF EQUITY SECURITIES HOLDERS
FOR THE PERIOD OF JANUARY 22, 2021 THROUGH FEBRUARY 28, 2021
Name of Applicant: KPMG LLP (Canada)
Authorized to Provide Professional Services to:
Official Committee of Equity Securities Holders of Debtor Garrett Motion Inc.
Date of Retention: Nunc Pro Tunc to January 22, 2021 [Dkt. No. 1036]
Period for which Compensation and/or Reimbursement is Sought:
January 22, 2021 through February 28, 2021
Total Amount of Fees Requested:
Less 20% Holdback:
Total Compensation Less Holdback:
Total Amount of Expenses Requested:
$160,000.00
($32,000.00)
$128,000.00
$10,524.00
Total Fees and Expenses Due: $138,524.00
This is a: _X_ Monthly ___ Interim ___ Final Application
1 The last four digits of Garrett Motion Inc.’s tax identification number are 3189. Due to the large number of debtor entities in these Chapter 11 Cases, which are being jointly administered, a complete list of the Debtors and the last four digits of their federal tax identification numbers is not provided herein. A complete list of such information may be obtained on the website of the Debtors’ claims and noticing agent at http://www.kccllc.net/garrettmotion. The Debtors’ corporate headquarters is located at La Pièce 16, Rolle, Switzerland.
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Pursuant to Sections 330 and 331 of title 11 of the United States Code (the “Bankruptcy
Code”), Rule 2016 of the Federal Rules of Bankruptcy Procedure (the “Bankruptcy Rules”), Rule
2016-1 of the Local Rules of Bankruptcy Practice and Procedure for the United States
Bankruptcy Court for the Southern District of New York (the “Local Rules”), and in accordance
with the Order Pursuant to Sections 105(a) and 331 of the Bankruptcy Code, Bankruptcy Rule
2016 and Local Rule 2016-1 Establishing Procedures for Monthly Compensation and
Reimbursement of Expenses of Professionals [Dkt. No. 291] (the “Interim Compensation
Order”), KPMG LLP (Canada) (“KPMG (Canada)”), as quality of earnings advisor to the Official
Committee of Equity Securities Holders (the “Equity Committee”) of Debtor Garrett Motion Inc.
(collectively with its debtor affiliates as debtors in possession, the “Debtors”), hereby submits
its statement of fees for compensation of professional services rendered and necessary and actual
expenses incurred (the “Monthly Fee Statement”) for the period of January 22, 2021 through
February 28, 2021 (the “Compensation Period”). Specifically, KPMG (Canada) requests interim
payment of $138,524.00 as compensation for actual and necessary services and expenses
rendered to the Equity Committee for the Compensation Period.
In support of this Monthly Fee Statement, KPMG (Canada) states as follows:
SERVICES RENDERED AND EXPENSES INCURRED
1. For the Compensation Period, KPMG (Canada) earned a flat fee in the amount of
$160,000.00. A schedule detailing the monthly fees earned by KPMG (Canada) during the
Compensation Period is attached hereto as Exhibit A. A schedule of KPMG (Canada)’s
professionals who performed services during the Compensation Period, including their respective
titles and the number of hours spent by each professional and by category, is attached hereto as
Exhibit B. The time records maintained by each of these professionals during the Compensation
Period are attached hereto as Exhibit C.
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2. During the Compensation Period, KPMG (Canada) incurred expenses in the total
amount of $10,524.00, consisting of legal fees, for which reimbursement is sought. The invoice
detailing these expenses is attached hereto as Exhibit D.
REPRESENTATIONS
3. Although KPMG (Canada) has used its reasonable best efforts to include all fees
and expenses incurred in the Compensation Period, some fees and expenses might not be included
in this Monthly Fee Statement due to delays caused by accounting and processing during the
Compensation Period. KPMG (Canada) reserves the right to seek payment of such fees and
expenses not included herein. Subsequent monthly fee statements will be submitted in accordance
with the Bankruptcy Code, the Bankruptcy Rules, the Local Rules, and the Interim Compensation
Order.
NOTICE
4. Notice of this Monthly Fee Statement will be provided to the Notice Parties (as
defined in the Interim Compensation Order) in accordance with the Interim Compensation Order.
Pursuant to the Interim Compensation Order, any party-in-interest has until the date that is fourteen
(14) days following the filing of this Monthly Fee Statement to object to the fees and expenses
requested herein.
Dated: March 23, 2021 By: /s/ Peter J. Graham
Peter J. Graham Partner, Advisory Transaction Services, Toronto KPMG LLP (Canada)Quality of Earnings Advisor to the Official Committee of Equity Securities Holders
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EXHIBIT A
Monthly Fees Schedule For Compensation Period
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EXHIBIT B Schedule of KPMG (Canada) Professionals For Compensation Period
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Exhibit C Time Records Maintained by KPMG (Canada) Professionals For Compensation Period
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Professional Person Position Service Line
Standard
hourly rate
in USD [A] Work Date
Hours
worked [B]
[A] x [B]
in USD Activitity Performed
Campbell, Iain Manager Advisory - Transaction Services 490 01/22/2021 9.50 4,655.00 Financial due diligence and analysis
Campbell, Iain Manager Advisory - Transaction Services 490 01/23/2021 8.00 3,920.00 Financial due diligence and analysis
Campbell, Iain Manager Advisory - Transaction Services 490 01/24/2021 7.00 3,430.00 Financial due diligence and analysis
Campbell, Iain Manager Advisory - Transaction Services 490 01/25/2021 12.00 5,880.00 Financial due diligence and analysis
Campbell, Iain Manager Advisory - Transaction Services 490 01/26/2021 9.00 4,410.00 Financial due diligence and analysis
Campbell, Iain Manager Advisory - Transaction Services 490 01/27/2021 7.50 3,675.00 Financial due diligence and analysis
Campbell, Iain Manager Advisory - Transaction Services 490 01/28/2021 8.00 3,920.00 Report preparation and review
Campbell, Iain Manager Advisory - Transaction Services 490 01/29/2021 7.50 3,675.00 Report preparation and review
Campbell, Iain Manager Advisory - Transaction Services 490 02/02/2021 6.50 3,185.00 Financial due diligence and analysis
Campbell, Iain Manager Advisory - Transaction Services 490 02/03/2021 5.50 2,695.00 Financial due diligence and analysis
Campbell, Iain Manager Advisory - Transaction Services 490 02/04/2021 3.00 1,470.00 Report preparation and review
Gadia, Anamika Partner Advisory - Restructuring & Turnaround 890 01/26/2021 0.50 445.00 Financial due diligence and analysis
Gadia, Anamika Partner Advisory - Restructuring & Turnaround 890 01/27/2021 0.50 445.00 Financial due diligence and analysis
Graham, Peter Partner Advisory - Transaction Services 890 01/22/2021 4.00 3,560.00 General and administrative
Graham, Peter Partner Advisory - Transaction Services 890 01/22/2021 2.50 2,225.00 Financial due diligence and analysis
Graham, Peter Partner Advisory - Transaction Services 890 01/23/2021 2.00 1,780.00 Financial due diligence and analysis
Graham, Peter Partner Advisory - Transaction Services 890 01/24/2021 3.50 3,115.00 Financial due diligence and analysis
Graham, Peter Partner Advisory - Transaction Services 890 01/25/2021 2.00 1,780.00 General and administrative
Graham, Peter Partner Advisory - Transaction Services 890 01/25/2021 2.00 1,780.00 Financial due diligence and analysis
Graham, Peter Partner Advisory - Transaction Services 890 01/26/2021 3.50 3,115.00 Financial due diligence and analysis
Graham, Peter Partner Advisory - Transaction Services 890 01/27/2021 2.50 2,225.00 Financial due diligence and analysis
Graham, Peter Partner Advisory - Transaction Services 890 01/28/2021 1.00 890.00 Financial due diligence and analysis
Graham, Peter Partner Advisory - Transaction Services 890 01/29/2021 1.00 890.00 Financial due diligence and analysis
Graham, Peter Partner Advisory - Transaction Services 890 01/29/2021 2.50 2,225.00 Report preparation and review
Graham, Peter Partner Advisory - Transaction Services 890 01/30/2021 1.50 1,335.00 General and administrative
Graham, Peter Partner Advisory - Transaction Services 890 01/31/2021 0.50 445.00 General and administrative
Graham, Peter Partner Advisory - Transaction Services 890 02/01/2021 0.50 445.00 General and administrative
Graham, Peter Partner Advisory - Transaction Services 890 02/02/2021 1.00 890.00 Financial due diligence and analysis
Graham, Peter Partner Advisory - Transaction Services 890 02/03/2021 1.50 1,335.00 Report preparation and review
Graham, Peter Partner Advisory - Transaction Services 890 02/04/2021 2.00 1,780.00 General and administrative
Graham, Peter Partner Advisory - Transaction Services 890 02/08/2021 2.00 1,780.00 Financial due diligence and analysis
Graham, Peter Partner Advisory - Transaction Services 890 02/09/2021 0.50 445.00 General and administrative
Chowdhury, Zahin Senior Manager Advisory - Transaction Services 685 01/22/2021 2.50 1,712.50 General and administrative
Chowdhury, Zahin Senior Manager Advisory - Transaction Services 685 01/22/2021 7.50 5,137.50 Financial due diligence and analysis
Chowdhury, Zahin Senior Manager Advisory - Transaction Services 685 01/23/2021 8.00 5,480.00 Financial due diligence and analysis
Chowdhury, Zahin Senior Manager Advisory - Transaction Services 685 01/23/2021 2.00 1,370.00 Report preparation and review
Chowdhury, Zahin Senior Manager Advisory - Transaction Services 685 01/24/2021 7.50 5,137.50 Financial due diligence and analysis
Chowdhury, Zahin Senior Manager Advisory - Transaction Services 685 01/25/2021 7.50 5,137.50 Financial due diligence and analysis
Chowdhury, Zahin Senior Manager Advisory - Transaction Services 685 01/26/2021 3.00 2,055.00 Financial due diligence and analysis
Chowdhury, Zahin Senior Manager Advisory - Transaction Services 685 01/26/2021 4.50 3,082.50 Report preparation and review
Chowdhury, Zahin Senior Manager Advisory - Transaction Services 685 01/27/2021 5.00 3,425.00 Report preparation and review
Chowdhury, Zahin Senior Manager Advisory - Transaction Services 685 01/28/2021 5.00 3,425.00 Report preparation and review
Chowdhury, Zahin Senior Manager Advisory - Transaction Services 685 01/29/2021 5.00 3,425.00 Report preparation and review
Chowdhury, Zahin Senior Manager Advisory - Transaction Services 685 02/01/2021 3.00 2,055.00 Financial due diligence and analysis
Chowdhury, Zahin Senior Manager Advisory - Transaction Services 685 02/02/2021 3.00 2,055.00 Report preparation and review
Chowdhury, Zahin Senior Manager Advisory - Transaction Services 685 02/03/2021 1.00 685.00 Financial due diligence and analysis
Chowdhury, Zahin Senior Manager Advisory - Transaction Services 685 02/03/2021 2.00 1,370.00 Report preparation and review
Chowdhury, Zahin Senior Manager Advisory - Transaction Services 685 02/04/2021 3.00 2,055.00 Financial due diligence and analysis
Chowdhury, Zahin Senior Manager Advisory - Transaction Services 685 02/15/2021 5.00 3,425.00 Financial due diligence and analysis
Chowdhury, Zahin Senior Manager Advisory - Transaction Services 685 02/16/2021 5.00 3,425.00 Financial due diligence and analysis
Chowdhury, Zahin Senior Manager Advisory - Transaction Services 685 02/17/2021 5.00 3,425.00 Financial due diligence and analysis
Chowdhury, Zahin Senior Manager Advisory - Transaction Services 685 02/18/2021 5.00 3,425.00 General and administrative
Dedic, Sven Senior Manager Advisory - Restructuring & Turnaround 660 01/26/2021 3.00 1,980.00 Financial due diligence and analysis
Dedic, Sven Senior Manager Advisory - Restructuring & Turnaround 660 01/27/2021 3.50 2,310.00 Financial due diligence and analysis
Dedic, Sven Senior Manager Advisory - Restructuring & Turnaround 660 01/28/2021 1.50 990.00 Financial due diligence and analysis
Dedic, Sven Senior Manager Advisory - Restructuring & Turnaround 660 01/29/2021 2.00 1,320.00 Financial due diligence and analysis
Dedic, Sven Senior Manager Advisory - Restructuring & Turnaround 660 02/02/2021 2.50 1,650.00 Financial due diligence and analysis
Nagpal, Vibhaa Consultant Advisory - Transaction Services (India) 235 01/22/2021 8.00 1,880.00 Financial due diligence and analysis
Nagpal, Vibhaa Consultant Advisory - Transaction Services (India) 235 01/23/2021 8.00 1,880.00 Financial due diligence and analysis
Nagpal, Vibhaa Consultant Advisory - Transaction Services (India) 235 01/27/2021 8.50 1,997.50 Financial due diligence and analysis
Nagpal, Vibhaa Consultant Advisory - Transaction Services (India) 235 01/28/2021 8.00 1,880.00 Financial due diligence and analysis
Nagpal, Vibhaa Consultant Advisory - Transaction Services (India) 235 02/02/2021 6.00 1,410.00 Financial due diligence and analysis
Nagpal, Vibhaa Consultant Advisory - Transaction Services (India) 235 02/03/2021 3.50 822.50 Financial due diligence and analysis
Behrani, Anjali Consultant Advisory - Transaction Services (India) 235 01/22/2021 6.00 1,410.00 Financial due diligence and analysis
Behrani, Anjali Consultant Advisory - Transaction Services (India) 235 01/23/2021 8.00 1,880.00 Financial due diligence and analysis
Varma, Devangana Consultant Advisory - Transaction Services (India) 235 01/22/2021 3.00 705.00 Financial due diligence and analysis
Frey, Alexis Supervising Senior Advisory - Transaction Services 335 01/22/2021 4.50 1,507.50 Financial due diligence and analysis
Frey, Alexis Supervising Senior Advisory - Transaction Services 335 01/23/2021 6.00 2,010.00 Financial due diligence and analysis
Frey, Alexis Supervising Senior Advisory - Transaction Services 335 01/24/2021 8.50 2,847.50 Financial due diligence and analysis
Frey, Alexis Supervising Senior Advisory - Transaction Services 335 01/25/2021 9.50 3,182.50 Financial due diligence and analysis
Frey, Alexis Supervising Senior Advisory - Transaction Services 335 01/26/2021 6.50 2,177.50 Financial due diligence and analysis
Frey, Alexis Supervising Senior Advisory - Transaction Services 335 01/27/2021 8.50 2,847.50 Financial due diligence and analysis
Frey, Alexis Supervising Senior Advisory - Transaction Services 335 02/01/2021 4.00 1,340.00 Financial due diligence and analysis
Frey, Alexis Supervising Senior Advisory - Transaction Services 335 02/04/2021 1.00 335.00 Financial due diligence and analysis
Arabi, Hamza Supervising Senior Advisory - Transaction Services 315 01/22/2021 10.50 3,307.50 Financial due diligence and analysis
Arabi, Hamza Supervising Senior Advisory - Transaction Services 315 01/23/2021 7.50 2,362.50 Financial due diligence and analysis
Arabi, Hamza Supervising Senior Advisory - Transaction Services 315 01/24/2021 7.00 2,205.00 Financial due diligence and analysis
Arabi, Hamza Supervising Senior Advisory - Transaction Services 315 01/25/2021 10.00 3,150.00 Financial due diligence and analysis
Arabi, Hamza Supervising Senior Advisory - Transaction Services 315 01/26/2021 10.00 3,150.00 Financial due diligence and analysis
Subtotals 375.00 187,690.00Discount -27,690.00
Fixed fee 160,000.00
Garrett Motion Inc. Case No. 20-12212 (MEW)
Summary of KPMG (Canada) Hours and Fees Incurred January 22, 2021 through February 28, 2021
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Exhibit D Expenses Invoice
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787 Seventh Avenue New York, NY 10019-6099 Tel: 212 728 8000 Fax: 212 728 8111 Federal ID 13-5536844
KPMG LLP
Peter Graham, CPA, CA
Partner, Deal Advisory
KPMG LLP
Bay Adelaide Centre
333 Bay Street, Suite 4600
Toronto ON M5H 2S5
Canada
GARRETT MOTION
PLEASE INDICATE INVOICE NUMBER ON REMITTANCE Invoice No. 22102186
Client/Matter No. 127944.00001
February 9, 2021
FOR PROFESSIONAL SERVICES RENDERED
through February 9, 2021 including preparation of retention
application; correspondence with client, the United States Trustee
and counsel to the Equity Committee re: same; and other
case administration. $ _ __ 10,524.00
Total this Invoice $ 10,524.00
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KPMG LLP
Invoice No. 22102186
Client/Matter No. 127944.00001
Page 2
GARRETT MOTION
Date Timekeeper Description Hours Amount
1/27/21 A A Procure precedent and docket pleadings. 1.30 $ 598.00
1/27/21 D G Assist with preparation of retention documents. 1.40 392.00
1/28/21 D G Assist with preparation of retention documents. 2.50 700.00
1/28/21 ASM Multiple corr. w/ client (0.6) and Kasowitz (0.2)
re: retention process.
0.80 1,000.00
1/29/21 D G Procure precedent and docket pleadings. 0.30 84.00
1/29/21 ASM Review retention materials (0.3); multiple corr.
w/ client (0.3) and Kasowitz (0.1) re: same.
0.70 875.00
1/30/21 ASM Draft retention documents. 1.00 1,250.00
1/31/21 ASM Draft retention documents (2.9); multiple corr.
w/ client re: same (0.5).
3.40 4,250.00
2/4/21 ASM Revise retention documents (0.3); corr. w/ UST
(0.1) and client re: same (0.2).
0.60 750.00
2/5/21 ASM Attention to retention documents (0.2); corr. w/
UST (0.1) and client (0.2) re: same.
0.50 625.00
Timekeeper Hours Amount
MORDKOFF, ANDREW S. 7.00 $ 8,750.00
AMBEAULT, ALISON 1.30 598.00
GONSALVES, DAVIS 4.20 1,176.00
Professional Fees $ 10,524.00
Total this Invoice $ 10,524.00
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