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Katy Industries Bankruptcy Examiner Appointed

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Katy Industries filed with the U.S. Bankruptcy Court a certification of counsel regarding the order appointing a fee examiner and establishing related procedures concerning compensation and reimbursement of expenses of professionals and members of official committees and consideration of fee applications.

Documents filed with the Court explain, “This Court hereby appoints M.J. Renick & Associates LLC (the ‘Renick Firm’) as the fee examiner in the above-captioned cases….The Fee Examiner shall: (a) review Applications (and related Fee Detail) filed by each Retained Professional in these chapter 11 cases. To the extent practicable, the Fee Examiner shall avoid duplicative review when reviewing (i) Interim Fee Applications comprising Monthly Fee Applications; and (ii) Final Fee Applications comprising Interim Fee Applications that have already been reviewed by the Fee Examiner;…(d) within 30 days after a Retained Professional files an Interim Fee Application or Final Fee Application, serve an ‘initial report’ on the Retained Professional designed to quantify and present factual data relevant to whether the requested fees, disbursements, and expenses meet the applicable standards of section 330 of the Bankruptcy Code and Local Rule 2016-2….Conclude the resolution period by filing with the Court a report with respect to each Application (the ‘Final Report’), within 15 days after the service of the Initial Report.”

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The post Katy Industries Bankruptcy Examiner Appointed appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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