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Two More Bills From Pachulski Stang - Still no MORs - Updated: Ocean Park's 3rd Bill
Wednesday, February 03 2010 @ 12:07 PM EST

Yes, the flow of money out of SCO never ends, it seems, and so Pachulski Stang has filed a couple of more bills in the SCO bankruptcy. At some point it has to end for them. They withdrew from the case back in November on the 16th, and here we are in February, and they are filing bills for September and November, but not October. That must still be on its way. That alone seems odd.

And of course there are no MORs from the Chapter 11 trustee yet, despite their representation at the last hearing that they would file the MORs for October and November and hopefully December in January.

October. Did something happen in October that they would like us not to notice until after the March trial? I notice that October was the month SCO settled with AutoZone. Could that be it? We'll have to wait and see, but it's not usual to file for September, then skip a month, and then bill for November. And where exactly are SCO's filings with the SEC? What is going on?

01/21/2010 - 1038 - Monthly Application for Compensation (Twenty-Fifth) and Reimbursement of Expenses of Pachulski Stang Ziehl & Jones LLP, as Co-Counsel to the Debtors and Debtors in Possession, for the Period from September 1, 2009 through September 30, 2009 Filed by Pachulski Stang Ziehl & Jones LLP. Objections due by 10-Feb-2010. (Attachments: # (1) Notice # (2) Exhibit A # (3) Certificate of Service) (Makowski, Kathleen)

02/03/2010 - 1047 - Monthly Application for Compensation [Twenty-Seventh] and Reimbursement of Expenses as Co-Counsel to the Debtors and Debtors in Possession for the Period from November 1, 2009 Through November 16, 2009 Filed by Pachulski Stang Ziehl & Jones LLP. Objections due by 2/22/2010. (Attachments: # 1 Notice # 2 Exhibit A # 3 Certificate of Service and Service List) (Makowski, Kathleen) (Entered: 02/03/2010)

The first bill is titled the 25th monthly application, covering September 1-30. The second is titled their 27th bill covering November 1-16, 2009. That is the date that they withdrew from the case, but this bill is not marked as the final bill. So obviously what is missing is the bill for October.

Mostly what they did in both time frames was work on what they call "the Berger Singerman fee matter" -- that would be this -- and do the paperwork to withdraw from the case. Neither bill is huge, but there is a balance brought forward of $80,518.24. So, what's the deal with the October bill? Why aren't they filing it? It surely isn't because either of these bills were complicated or hard to finish. Bankruptcy court is so loose, they surely won't care. But we do.

Update: Here it is, the bill for October. And here's Exhibit A. Here is the docket:

01/29/2010 - 1046 - Monthly Application for Compensation [Twenty-Sixth] and Reimbursement of Expenses as Co-Counsel to the Debtors and Debtors in Possession for the Period from October 1, 2009 Through October 31, 2009 Filed by Pachulski Stang Ziehl & Jones LLP. Objections due by 2/17/2010. (Attachments: # 1 Notice # 2 Exhibit A # 3 Certificate of Service and Service List) (Makowski, Kathleen) (Entered: 01/29/2010)

Update 2: Ocean Park Advisors has filed another bill, their 3rd:

02/04/2010 - 1048 - Third Application for Compensation and Reimbursement of Expenses for the Period of December 1, 2009 Through December 31, 2009 Filed by Ocean Park Advisors, LLC. Objections due by 2/24/2010. (Attachments: # 1 Notice # 2 Exhibit A # 3 Exhibit B # 4 Certificate of Service) (Fatell, Bonnie) (Entered: 02/04/2010)

I see some of them are spending many hours talking to potential lenders, and on page 5 of Exhibit A, I see an associate working on the MORs, in December. What would this be: "Analysis of certain trade creditor fees.."? On the next page, you see several employees, including a managing director, working on the MORs in early December, and then an associate met with debtor about the MORs. Then there is this notation: "Coordinate deliverables with the Debtor relating to Monthly Operating Report's and year end financial activities" and then they revised the MORs and reviewed them again. Late in December, an associate reviewed "revised Month Operating Reports provided by Debtor". And then on the 23rd of December, he prepared "final versions" of the MORs "for filing". So where are they?

I see someone on page 6 reviewing and then working on independent contractor agreements. On the next page, they are looking into "foreign office cost comparison and approval" and on Dec. 9, there was a meeting with "investor/buyer of non-core assets". On that same page, we find a review of "foreign laws relating to certain debtor issues" and a review of quarterly commissions. On Dec. 29, there is a notation about an "offer from suitor for mobility business," to which one must ask, what mobility business? That notation is followed by a review of "modifications to offer." Then on Dec. 4, "Review device driver upgrade memorandum and estimate". My. Things sound desperate. Then on Dec. 21: "Analyses of runway based on timing of certain disbursements." They seem to be seeking a loan.


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