Case No. 02-48191 (Jointly Administered).United States Bankruptcy Court, N.D. Illinois, Eastern Division.
September 16, 2004
ORDER GRANTING BABCOCK BROWN LP’S FIFTH QUARTERLY FEE APPLICATION FOR ALLOWANCE OF ADMINISTRATIVE CLAIM FOR COMPENSATION AND REIMBURSEMENT OF FEES AND EXPENSES FOR THE INTERIM PERIOD OF JANUARY 1, 2004 THROUGH MARCH 31, 2004
EUGENE WEDOFF, Bankruptcy Judge
Upon consideration of the Fifth Quarterly Fee Application (the “Application”) of Babcock Brown LP (“Babcock Brown”), financial advisor with respect to aircraft financing for debtor United Air Lines, Inc. (the “Debtor,” together with each of the other debtors and debtors-in-possession herein, the “Debtors”), requesting the entry of an order pursuant to sections 327, 330 and 331 of chapter 11 of Title 11 of the United States Code (as amended, the “Bankruptcy Code”); Rule 2016 of the Federal Rules of Bankruptcy Procedure; the Retention Order, as amended by the Amended Retention Order; and that certain Administrative Order Under Sections 105(a) and 331 of the Bankruptcy Code Establishing Procedures for Interim Compensation and Reimbursement of Expenses for Professionals and Committee Members pursuant to that certain Amended Order, for approval and allowance of payment of: (a) $525,000 for the period from January 1, 2004 through March 31, 2004 (as modified by footnote 1, the “Fee Period”), representing ninety percent (90%) in fees in the amount of $472,500 received by Babcock Brown during the Fee Period and the ten percent (10%) holdback of $52,500 of those fees, for the reasonable and necessary professional services Babcock Brown rendered to the
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Debtor during the Fee Period; and (b) $20,488.08 for the actual and necessary expenses (the “Expenses”) that Babcock Brown incurred in the period prior to, and during a portion of the Fee Period;[1] due and proper notice of the Application having been provided; the Court having jurisdiction to hear and determine the Application pursuant to 28 U.S.C. §§ 157 and 1334; it appearing that this is a core proceeding within the meaning of 28 U.S.C. § 157(b)(2); it appearing that venue is proper pursuant to 28 U.S.C. §§ 1408 and 1409; it appearing that there is good cause to grant the relief requested; all persons with standing having been afforded the opportunity ti be heard on the Application; there being no objection to the requested relief, it is hereby ORDERED as follows:
(i) The Application is allowed.
(ii) Notice of the Application as provided for therein is sufficient.
(iii) Babcock Brown is allowed $525,000.00 in interim compensation for necessary professional services during the Fee Period.
(iv) Babcock Brown is allowed $20,488.08 in expense reimbursement for expenses incurred during the Fee Period.
(v) The Debtors are authorized and directed to pay Babcock
Brown $52,500.00, the amount “held back” and the balance due after credit for payments received by Babcock Brown during the Fee Period.
(vi) The Court reserves jurisdiction to hear and determine all matters arising from the implementation of this Order.
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(vii) Notwithstanding the possible applicability of Bankruptcy Rules 6006(d), 7062, 9014 or otherwise, the terms and conditions of this Order shall be immediately effective and enforceable upon its entry.
(viii) All periods set forth in this Order shall be calculated in accordance with Bankruptcy Rule 9006(a).
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