Dennis F. Dunne Evan R. Fleck MILBANK, TWEED
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12-11076-shl Doc 1605 Filed 10/03/13 Entered 10/03/13 19:51:09 Main Document Pg 1 of 118 Hearing Date and Time: October 24, 2013 at 11:00 a.m. (Prevailing Eastern Time) Objection Deadline: October 17, 2013 at 12:00 p.m. (Prevailing Eastern Time) Dennis F. Dunne Evan R. Fleck c MILBANK, TWEED, HADLEY & M CLOY LLP 1 Chase Manhattan Plaza New York, NY 10005 Telephone: (212) 530-5000 Counsel for Official Committee of Unsecured Creditors of Arcapita Bank B.S.C.(c), et al. UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK ------------------------------------------------------------ x : In re: : Chapter 11 : ARCAPITA BANK B.S.C.(c), et al., : Case No. 12-11076 (SHL) : Reorganized Debtors.1 : Confirmed : ------------------------------------------------------------ x FOURTH AND FINAL APPLICATION OF MILBANK, TWEED, HADLEY & c M CLOY LLP FOR APPROVAL AND ALLOWANCE OF COMPENSATION FOR SERVICES RENDERED AND REIMBURSEMENT OF EXPENSES INCURRED c Name of applicant: Milbank, Tweed, Hadley & M Cloy LLP Authorized to provide professional services to: Official Committee of Unsecured Creditors Date of retention: Order entered on June 29, 2012, retaining Milbank nunc pro tunc to April 10, 2012 Period for which compensation and reimbursement are sought: April 11, 2012 – September 17, 2013 Amount of compensation requested: $23,574,219.00 (100%) 1 The chapter 11 case captioned In re Falcon Gas Storage Company, Inc., No. 12-11790 (Bankr. S.D.N.Y.) (the “Falcon Case”) is being jointly administered as one of the above-captioned cases. No plan has been confirmed in the Falcon Case. 12-11076-shl Doc 1605 Filed 10/03/13 Entered 10/03/13 19:51:09 Main Document Pg 2 of 118 Amount of expense reimbursement requested: $545,127.08 (100%) This is an: interim X final application. c This is the fourth fee application filed by Milbank, Tweed, Hadley & M Cloy LLP in these cases. 2 12-11076-shl Doc 1605 Filed 10/03/13 Entered 10/03/13 19:51:09 Main Document Pg 3 of 118 C FOURTH AND FINAL FEE APPLICATION OF MILBANK, TWEED, HADLEY & M CLOY LLP AS COUNSEL TO OFFICIAL COMMITTEE OF UNSECURED CREDITORS OF ARCAPITA BANK B.S.C.(C), ET AL. 2 (APRIL 11, 2012 – SEPTEMBER 17, 2013) Name Position; Experience Hourly Rate3 Total Hours Total Compensation Dennis Dunne Financial Restructuring Partner $1,160 378.80 $439,408.00 at Milbank for 15 years; $1,140 536.50 $611,610.00 admitted in 1991. $580* 43.80 $25,404.00 $570* 45.60 $25,992.00 Linda Dakin-Grimm Litigation Partner at Milbank $1,160 7.00 $8,120.00 for 14 years; admitted in 1985. David Zeltner Global Corporate Partner at $1,140 26.30 $29,982.00 Milbank for 2 years; admitted in 1978. John Dewar Global Project Finance Partner $1,160 195.70 $227,012.00 at Milbank for 5 years; $1,125 51.10 $57,487.50 admitted in 1991. Wilbur Foster Financial Restructuring Partner $1,160 53.90 $62,524.00 at Milbank for 22 years; $1,075 10.10 $10,857.50 admitted in 1982. Thomas Janson Global Corporate Partner at $1,160 139.70 $162,052.00 Milbank for 11 years; admitted $1,075 4.30 $4,622.50 in 1985. Jane Morgan Global Corporate Partner at $1,160 982.90 $1,140,164.00 Milbank for 2 years; admitted $1,125 96.40 $108,450.00 in 1997. Robert Mullen Global Securities Partner at $1,160 5.90 $6,844.00 Milbank for 22 years; admitted in 1981. Stuart Harray Global Corporate Partner at $1,125 21.40 $24,075.00 Milbank for 6 years; admitted in 1993. 2 This chart reflects fees that were incurred throughout the entire Total Compensation Period. 3 Due to firm-wide rate increases that were implemented as of January 1, 2013, certain Milbank attorneys and paraprofessionals have billed at two different hourly rates during the Total Compensation Period. As such, the first number in this column corresponds to the individual’s hourly billing rate for the period from January 1, 2013 through September 17, 2013, while the second number corresponds to the individual’s hourly billing rate for the period from April 11, 2012 through December 31, 2012. * Non-working travel time is billed at 50% of standard hourly rates. 3 12-11076-shl Doc 1605 Filed 10/03/13 Entered 10/03/13 19:51:09 Main Document Pg 4 of 118 Name Position; Experience Hourly Rate3 Total Hours Total Compensation Robert Jay Moore Financial Restructuring Partner $1,125 3.90 $4,387.50 at Milbank for 16 years; admitted in 1977. Andrew Walker Tax Partner at Milbank for 11 $1,160 31.40 $36,424.00 years; admitted in 1995. $1,075 .80 $860.00 Paul Wessel Tax Partner at Milbank for 6 $1,075 26.20 $28,165.00 years; admitted in 1988. David Lamb Global Corporate Partner at $1,030 26.70 $27,501.00 Milbank for 23 years; admitted in 1992. Andrew Leblanc Litigation Partner at Milbank $1,160 123.60 $143,376.00 for 7 years; admitted in 1998. $1,030 106.70 $109,901.00 $580* 9.60 $5,568.00 $515 11.50 $5,922.50 Nicholas James Financial Restructuring Partner $1,100 1.80 $1,980.00 Angel at Milbank for 4 years; admitted in 1989. Albert Pisa Alternative Investments $1,160 164.10 $190,356.00 Partner at Milbank for 9 years; $1,030 57.00 $58,710.00 admitted in 1997. Mark Stamp Global Corporate Partner at $1,160 112.50 $130,500.00 Milbank for 1 year; admitted in 1985. Brett Goldblatt Global Corporate Partner at $1,100 43.70 $48,070.00 Milbank for 8 years; admitted in 1998. Wayne Aaron Litigation Partner at Milbank $1,050 21.20 $22,260.00 for 9 years; admitted in 1996. Peter Schwartz Global Securities Partner at $1,050 101.40 $106,470.00 Milbank for 3 years; admitted in 1998. Stacey Rappaport Litigation Partner at Milbank $975 92.40 $90,090.00 for 9 years; admitted in 1997. Abhilash Raval Financial Restructuring Partner $975 153.60 $149,760.00 at Milbank for 6 years; $487.5* 41.00 $19,987.50 admitted in 1997. Russell Kestenbaum Tax Partner at Milbank for 6 $950 2.50 $2,375.00 years; admitted in 1997. Evan Fleck Financial Restructuring Partner $1,000 1,549.90 $1,549,900.00 at Milbank for 3 years; $900 1,297.00 $1,167,300.00 admitted in 2002. $500* 51.00 $25,500.00 $450* 34.50 $15,525.00 4 12-11076-shl Doc 1605 Filed 10/03/13 Entered 10/03/13 19:51:09 Main Document Pg 5 of 118 Name Position; Experience Hourly Rate3 Total Hours Total Compensation Joel Krasnow Tax Partner at Milbank for 5 $1,000 53.10 $53,100.00 years; admitted in 1990. Thomas James Litigation Partner at Milbank $975 2.00 $1,950.00 Canning for 3 years; admitted in 2000. $875 3.40 $2,975.00 Atara Miller Litigation Partner for 1 year; $950 24.20 $22,990.00 admitted in 2003. Nicholas Smith Global Corporate Partner at $950 71.30 $67,735.00 Milbank for 1 year; admitted in 2003. Daniel Michalchuk Global Project Finance Partner $825 3.20 $2,640.00 at Milbank for 13 years; admitted in 2001. Patrick Holmes Global Leveraged Finance Of $1,045 8.50 $8,882.50 Counsel at Milbank for 12 $995 25.20 $25,074.00 years; admitted in 1977. Dennis O’Donnell Financial Restructuring Of $960 138.70 $133,152.00 Counsel at Milbank for 6 years; $910 746.80 $679,588.00 admitted in 1992. Dorothy Heyl Litigation Of Counsel At $955 33.50 $31,992.50 Milbank for 9 years; admitted in 1984. Lena Mandel Senior Attorney at Milbank for $810 169.90 $137,619.00 11 years; admitted in 1990. $795 171.00 $135,945.00 Brian Kelly Special Counsel at Milbank; $780 1.00 $780.00 admitted in 2001. $750 1.50 $1,125.00 Matthew Mortimer Tax Associate at Milbank for 6 $805 71.00 $57,155.00 years; admitted in 2009. Lisa Brabant Real Estate Associate at $750 23.70 $17,775.00 Milbank for 15 years; admitted in 1999. Mia Korot Litigation Associate at Milbank $750 37.80 $28,350.00 for 9 years; admitted in 2004. Erika Kuver-Del Real Estate Associate at $750 10.70 $8,025.00 Duca Milbank for 10 years; admitted in 2004. Katherine Soanes Global Corporate Associate at $780 15.20 $11,856.00 Milbank for 8 years; admitted $750 7.30 $5,475.00 in 1996. Mark Withey Global Corporate Associate at $750 87.90 $65,925.00 Milbank for 4 years; admitted in 2001. 5 12-11076-shl Doc 1605 Filed 10/03/13 Entered 10/03/13 19:51:09 Main Document Pg 6 of 118 Name Position; Experience Hourly Rate3 Total Hours Total Compensation Cindy Chen Delano Financial Restructuring $780 66.20 $51,636.00 Associate at Milbank for 2 $735 182.80 $134,358.00 years; admitted in 2005. Jennifer Harris Alternative Investments $780 225.90 $176,202.00 Associate at Milbank for 9 years; admitted in 2000. Peter Newman Financial Restructuring $780 606.40 $472,992.00 Associate at Milbank for 9 $735 961.40 $706,629.00 years; admitted in 2005. John Goldfinch Alternative Investments $755 3.80 $2,869.00 Associate at Milbank for 2 years; admitted in 2008. Shepard Liu Global Project Finance $755 243.80 $184,069.00 Associate at Milbank for 3 years; admitted in 2006.