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Friday, April 25, 2014

Fund lawyers’ bill for July, August OK’d

The federal court has approved for payment $116,298.76 in expenses and fees of the NMI Retirement Fund’s former trustee ad litem and two Fund lawyers for July and August 2013.

U.S. District Court for the NMI designated judge Frances Tydingco-Gatewood on Friday approved the request of former trustee ad litem Civille & Tang law firm for payment of $21,300 in professional fees and $442.36 in expenses for July, and $21,787.50 in professional fees and $1,519.34 in expenses for August, for a total of $45,049.20.

Tydingco-Gatewood also approved Fund counsel Daniel J. Berman’s request for payment of $30,312.50 in professional fees for July, and $15,687.50 in professional fees and $459.56 in expenses for August, for a total of $46,459.56.

For the Fund’s other counsel, Braddock J. Huesman, the judge approved the lawyer’s request for payment of $14,320 in professional fees for July and $10,470 in professional fees for August, for a total of $24,290.

Tydingco-Gatewood said she finds the requests for compensation and reimbursements of expenses to be reasonable.

The amounts, she said, shall be paid to the trustee ad litem and its attorneys from the money that was transferred from the Fund’s operations budget to the trustee ad litem’s client trust account.

With the court’s approval of the global settlement agreement in Johnson’s class action last Sept. 30, the judge discharged the Civille & Tang law firm and its representative, Joseph Razzano, as trustee ad litem for the Fund.

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