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Transcript of KodakYoungConaway
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01: 11837589.1
Objection Deadline: April 4, 2012 at 4:00 p.m. (Eastern Time)
Andrew G. DietderichJohn J. JeromeMichael H. TorkinMark U. SchneidermanSULLIVAN & CROMWELL LLP125 Broad StreetNew York, New York 10004Telephone: (212) 558-4000Facsimile: (212) 558-3588
Counsel to the Debtors and Debtors inPossession
Pauline K. MorganJoseph M. BarryYOUNG CONAWAY STARGATT &TAYLOR, LLP1270 Avenue of the AmericasSuite 2210New York, New York 10020Telephone: (212) 332-8840Facsimile: (212) 332-8855
Counsel to the Debtors and Debtors inPossession
1
UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK
In re:
EASTMAN KODAK COMPANY, et al.,2
Debtors.
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)
Chapter 11
Case No. 12-10202 (ALG)
(Jointly Administered)
MONTHLY STATEMENT OF SERVICES RENDERED AND EXPENSES INCURREDBY YOUNG CONAWAY STARGATT & TAYLOR, LLP FOR THE DEBTORS FOR
THE PERIOD JANUARY 19, 2012 THROUGH FEBRUARY 29, 2012
1 All parties in interest with inquiries regarding this Statement should direct such inquiries to Young ConawayStargatt & Taylor, LLP.
2 The Debtors in these chapter 11 cases, along with the last four digits of each Debtors federal tax identificationnumber, are: Eastman Kodak Company (7150); Creo Manufacturing America LLC (4412); Eastman KodakInternational Capital Company, Inc. (2341); Far East Development Ltd. (2300); FPC Inc. (9183); Kodak (NearEast), Inc. (7936); Kodak Americas, Ltd. (6256); Kodak Aviation Leasing LLC (5224); Kodak ImagingNetwork, Inc. (4107); Kodak Philippines, Ltd. (7862); Kodak Portuguesa Limited (9171); Kodak Realty, Inc.
(2045); Laser-Pacific Media Corporation (4617); NPEC Inc. (5677); Pakon, Inc. (3462); and Qualex Inc.(6019). The location of the Debtors corporate headquarters is: 343 State Street, Rochester, NY 14650.
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01: 11837589.1
Name of Applicant Young Conaway Stargatt & Taylor, LLP(YCST)
Authorized to Provide Professional Services to: Debtors and Debtors in Possession
Date of Retention Order entered on March 5, 2012 retainingYCST, nunc pro tunc to January 19, 2012
Period for which compensation andreimbursement is sought:
January 19, 2012 through February 29, 2012
Amount of Compensation sought as actual,reasonable and necessary:
$669,607.50
Amount of Expense Reimbursement sought asactual, reasonable and necessary:
$22,435.11
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In accordance with this Courts Order Establishing Procedures for Interim
Compensation and Reimbursement of Expenses for Professionals [Docket No. 363] (the
Interim Compensation Order), Young Conaway Stargatt & Taylor, LLP (YCST), counsel
to the above-captioned debtors and debtors in possession (collectively, the Debtors), hereby
submits its Monthly Statement of Services Rendered and Expenses Incurred for the Period
January 19, 2012 through February 29, 2012 (the Statement).
Itemization of Services Rendered and Disbursements Incurred
1. Attached hereto as Exhibit A is a summary of the services rendered byYCST for which compensation is sought, by project category.
2. Attached hereto as Exhibit B is a listing of YCST professionals andparaprofessionals, including the standard hourly rate for each attorney and paraprofessional
(collectively, the YCST Professionals) who rendered services to the Debtors in connection
with these chapter 11 cases during the period January 19, 2012 through February 29, 2012 (the
Statement Period) and the title, hourly rate, aggregate hours worked and the amount of fees
earned by each YCST Professional. The blended hourly billing rate of attorneys for all services
during the Statement Period is $410.43. The blended hourly billing rate of all paraprofessionals
is $228.53.
3. Attached hereto as Exhibit C are the time records of YCST, which providea daily summary of the time spent by each YCST Professional during the Statement Period by
project category.
4. Attached hereto as Exhibit D is a detailed itemization of expenses.
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Billing Adjustments
5. In the exercise of its billing judgment, YCST has written off a total of$8,619.50 in fees, including 50% of non-working travel time to and from Rochester, New York,
and 100% of non-working travel time to and from New York, New York, or approximately
1.28% of the total amount sought herein.
Total Fees and Expenses Sought for the Statement Period
6. The total amounts sought for fees for professional services rendered andreimbursement of expenses incurred for the Statement Period are as follows:
Total Fees $669,607.50
Total Expenses $22,435.11
TOTAL $692,042.61
7. Pursuant to the Interim Compensation Order, YCST seeks payment of$558,121.11 from the Debtors for the Statement Period (the Interim Amount), representing
(a) 80% of YCSTs total fees for services rendered and (b) 100% of the total expenses incurred.
Notice and Objection Procedures
8. In accordance with the Interim Compensation Order, notice of theStatement has been served upon the following parties (collectively, as further defined in the
Interim Compensation Order, the Notice Parties): (i) Kodak, 343 State Street, Rochester, New
York 14650, Attn.: Dorothy Cusker; (ii) counsel to the Debtors, Young Conaway Stargatt &
Taylor, LLP, 1000 North King Street, Wilmington, Delaware 19801, Attn.: Morgan L. Seward,
Esq. and Sullivan & Cromwell LLP, 125 Broad Street, New York, New York 10004, Attn.:
Judith R. Fiorini, Esq.; (iii) the U.S. Trustee, 33 Whitehall Street, 21 st Floor, New York, New
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01: 11837589.1
York, 10004; (iv) counsel to the Official Committee of Unsecured Creditors, Milbank, Tweed,
Hadley & McCloy LLP, 1 Chase Manhattan Plaza, New York, New York 10005, Attn.: Dennis
F. Dunne, Esq. and Tyson M. Lomazow, Esq.; (v) counsel to the agent for the Debtors
postpetition secured lenders, Davis Polk & Wardell LLP, 450 Lexington Avenue, New York,
New York 10017, Attn.: Marshall S. Huebner, Esq.; and (iv) counsel to the Ad Hoc Committee
of Second Lien Noteholders, Akin Gump Strauss Hauer & Feld LLP, One Bryant Park, New
York, New York 10036, Attn.: Michael S. Stamer, Esq. and David H. Botter, Esq.
9. Pursuant to the Interim Compensation Order, objections to this Statement,if any, must be served upon the Notice Parties, including YCST, no later than April 4, 2012 (the
Objection Deadline), setting forth the nature of the objection and the specific amount of fees
and expenses at issue.
10. If no objections to the Statement are received by the Objection Deadline,the Debtors will pay to YCST 80% of the fees and 100% of the expenses identified in the
Statement.
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11. To the extent an objection to the Statement is received on or before theObjection Deadline, the Debtors will withhold payment of that portion of the Statement to which
the objection is directed and will promptly pay the remainder of the fees and expenses in the
percentages set forth above. To the extent such objection is not resolved, it shall be preserved
and scheduled for consideration at the next interim fee application hearing.
Dated: March 20, 2012
New York, New York/s/ Pauline K. Morgan
Pauline K. MorganJoseph M. BarryYOUNG CONAWAY STARGATT &TAYLOR, LLP1270 Avenue of the Americas
Suite 2210New York, New York 10020Telephone: (212) 332-8854Facsimile: (212) 332-8855
Counsel to the Debtors and Debtors inPossession
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