Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 1 of 44
Dennis F. Dunne, Esq. (admitted pro hac vice) Tyler P. Brown, Esq. (VSB No. 28072) Alan J. Stone, Esq. (admitted pro hac vice) Justin F. Paget, Esq. (VSB No. 77949) Matthew L. Brod, Esq. (admitted pro hac vice) Jennifer E. Wuebker, Esq. (VSB No. 91184) MILBANK LLP HUNTON ANDREWS KURTH LLP 55 Hudson Yards Riverfront Plaza, East Tower New York, New York 10001 951 East Byrd Street Telephone: (212) 530-5000 Richmond, Virginia 23219 Facsimile: (212) 530-5219 Telephone: (804) 788-8200 Facsimile: (804) 788-8218 Andrew M. Leblanc, Esq. (admitted pro hac vice) S. Robert Marsters, Jr., Esq. (admitted pro hac vice) MILBANK LLP 1850 K Street, NW, Suite 1100 Washington, DC 20006 Telephone: (202) 835-7500
Co-Counsel for the Official Committee of Unsecured Creditors
IN THE UNITED STATES BANKRUPTCY COURT FOR THE EASTERN DISTRICT OF VIRGINIA RICHMOND DIVISION
) In re: ) Chapter 11 ) INTELSAT S.A., et al.,1 ) Case No. 20-32299 (KLP) ) Debtors. ) (Jointly Administered) )
SUMMARY COVER SHEET TO FOURTH INTERIM APPLICATION OF MOELIS & COMPANY, LLC FOR ALLOWANCE OF ADMINISTRATIVE CLAIM FOR COMPENSATION AND REIMBURSEMENT OF EXPENSES INCURRED FROM MARCH 1, 2021 THROUGH MAY 31, 2021
Basic Information
Name of Applicant: Moelis & Company, LLC
Authorized to provide professional services to: Official Committee of Unsecured Creditors
1 Due to the large number of Debtors in these chapter 11 cases, for which joint administration has been granted, a complete list of the Debtor entities and the last four digits of their federal tax identification numbers is not provided herein. A complete list may be obtained on the website of the Debtors’ proposed claims and noticing agent at https://cases.stretto.com/intelsat. The location of the Debtors’ service address is: 7900 Tysons One Place, McLean, VA 22102.
1
Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 2 of 44
September 22, 2020 nunc pro tunc to May 29, Date of retention order: 2020
Petition date: May 14, 2020
Summary of Compensation & Expenses Sought in Application
Type of fee application: 4th Interim Application
Period for which compensation and March 1, 2021 – May 31, 2021 reimbursement sought: Compensation sought as reasonable, actual and $675,000.00 necessary in application: Compensation from application period already $360,000.00 paid under retention order: Remaining compensation to be paid pursuant to $315,000.00 application: Expense reimbursement sought as actual and $19,513.00 necessary in application: Expenses from application period already $14,383.00 reimbursed under retention order: Remaining expenses to be reimbursed pursuant to $5,130.00 application: Total compensation and expense reimbursement $694,513.00 requested in application: Total remaining compensation and expense $320,130.00 reimbursement to be paid under application:
2
Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 3 of 44
Dennis F. Dunne, Esq. (admitted pro hac vice) Tyler P. Brown, Esq. (VSB No. 28072) Alan J. Stone, Esq. (admitted pro hac vice) Justin F. Paget, Esq. (VSB No. 77949) Matthew L. Brod, Esq. (admitted pro hac vice) Jennifer E. Wuebker, Esq. (VSB No. 91184) MILBANK LLP HUNTON ANDREWS KURTH LLP 55 Hudson Yards Riverfront Plaza, East Tower New York, New York 10001 951 East Byrd Street Telephone: (212) 530-5000 Richmond, Virginia 23219 Facsimile: (212) 530-5219 Telephone: (804) 788-8200 Facsimile: (804) 788-8218 Andrew M. Leblanc, Esq. (admitted pro hac vice) S. Robert Marsters, Jr., Esq. (admitted pro hac vice) MILBANK LLP 1850 K Street, NW, Suite 1100 Washington, DC 20006 Telephone: (202) 835-7500
Co-Counsel for the Official Committee of Unsecured Creditors
IN THE UNITED STATES BANKRUPTCY COURT FOR THE EASTERN DISTRICT OF VIRGINIA RICHMOND DIVISION
) In re: ) Chapter 11 ) INTELSAT S.A., et al.,2 ) Case No. 20-32299 (KLP) Debtors. ) ) (Jointly Administered) )
FOURTH INTERIM APPLICATION OF MOELIS & COMPANY, LLC FOR ALLOWANCE OF ADMINISTRATIVE CLAIM FOR COMPENSATION AND REIMBURSEMENT OF EXPENSES INCURRED FROM MARCH 1, 2021 THROUGH MAY 31, 2021
Moelis & Company, LLC (“Moelis”), investment banker for the Official Committee of
Unsecured Creditors (the “Committee”) of Intelsat S.A. and its affiliated debtors in possession
(collectively, the “Debtors”) in the above-captioned Chapter 11 cases (the “Cases”) hereby files
this application (the “Interim Application”) and respectfully moves the Court pursuant to sections
2 Due to the large number of Debtors in these chapter 11 cases, for which joint administration has been granted, a complete list of the Debtor entities and the last four digits of their federal tax identification numbers is not provided herein. A complete list may be obtained on the website of the Debtors’ proposed claims and noticing agent at https://cases.stretto.com/intelsat. The location of the Debtors’ service address is: 7900 Tysons One Place, McLean, VA 22102.
3
Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 4 of 44
328, 330, 331 and 1103 of title 11 of the United States Code (the “Bankruptcy Code”), Rule
2016(a) of the Federal Rules of Bankruptcy Procedure (the “Bankruptcy Rules”), Local
Bankruptcy Rule 2016-1 for the Local Bankruptcy Rules for the United States Bankruptcy Court
for the Eastern District of Virginia (the “Local Rule(s)”), and the Order (I) Establishing
Procedures for Interim Compensation and Reimbursement of Expenses for Retained Professionals
and (II) Granting Related Relief [Dkt. No. 425] (the “Interim Compensation Order”), for entry
of an order allowing, on an interim basis, compensation for professional services performed and
reimbursement of expenses incurred by Moelis on behalf of the Committee during the period of
March 1, 2021 through May 31, 2021 (the “Compensation Period”). Moelis states the following
in support thereof:
Jurisdiction & Venue
1. The Court has jurisdiction over the Interim Application pursuant to 28 U.S.C.
§§ 157 and 1334. Venue is proper in this district according to 28 U.S.C. §§ 1408 and 1409, and
the Interim Application is a core proceeding under 28 U.S.C. § 157.
Background
2. On May 14, 2020 (the “Petition Date”), the Debtors filed with the Court their
respective voluntary petitions for relief under chapter 11 of title 11 of the Bankruptcy Code. The
Debtors’ Chapter 11 Cases have been consolidated for procedural purposes only and are being
jointly administered pursuant to Bankruptcy Rule 1015(b) and Local Rule 1015-1.
3. Pursuant to sections 1101, 1107 and 1108 of the Bankruptcy Code, the Debtors are
continuing to operate their businesses and manage their assets as debtors in possession.
4. On May 27, 2020, the United States Trustee for the Eastern District of Virginia (the
“U.S. Trustee”), pursuant to sections 1102(a) and (b) of title 11 of the Bankruptcy Code,
4
Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 5 of 44
appointed the Committee to serve as such for each Debtor and to represent the interests of all
unsecured creditors in the Cases. The members appointed to the Committee are: (i) The
Boeing Company, (ii) Tysons Corner Office I LLC, (iii) Pension Benefit Guaranty Corporation,
(iv) US Bank, National Association, (v) Delaware Trust Company, (vi) BOKF, N.A., and (vii)
JSAT International, Inc. The Committee has appointed the following two members as co-chairs:
Delaware Trust Company and The Boeing Company.
5. On June 30, 2020, the Court entered the Interim Compensation Order, pursuant to
which, beginning with the period ending on August 31, 2020, and at three-month intervals
thereafter, professionals retained in the Cases are authorized to file interim fee applications with
the Court for the payment of compensation and reimbursement of expenses sought in the Monthly
Fee Statements (as defined in the Interim Compensation Order) served during such period. Below
is a summary of interim fee applications filed by Moelis in these cases:
Date Filed Period Date of Order Total Requested Total Allowed Covered Approving Fees/Expenses Fees/Expenses Paid Application 10/2/2020 05/29/2020- 12/22/21 Fees: $675,000.00 Fees: $675,000.00 08/31/2020 Expenses: $105,171.14 Expenses: $85,171.14 01/21/2021 09/01/2020- 04/15/21 Fees: $675,000.00 Fees: $675,000.00 11/30/2020 Expenses: $42,792.53 Expenses: $23,448.00 04/22/2021 12/1/2021– 07/08/2021 Fees: $675,000.00 Fees: $675,000.00 02/28/2021 Expenses: $30,079.00 Expenses: $25,801.30
6. On September 22, 2020, the Court entered the Order (I) Authorizing the Retention
and Employment of Moelis & Company LLC as Investment Banker for the Official Committee of
Unsecured Creditors, Effective as of May 29, 2020, (II) Waiving Certain Time-Keeping
Requirements, and (III) Granting Related Relief [Dkt. No. 813] (the “Moelis Retention Order”),
authorizing the Committee to retain Moelis as its investment banker to render related services
thereto nunc pro tunc to May 29, 2020.
5
Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 6 of 44
7. The Court approved Moelis’ retention as investment banker under section 328(a)
of the Bankruptcy Code provided that the compensation and reimbursement of expenses sought
under the Moelis Retention Order and in accordance with the Application and the Moelis
Engagement Letter, as defined and modified therein, is subject to review only pursuant to the
standards set forth in section 328(a) of the Bankruptcy Code and shall not be subject to the standard
of review set forth in section 330 of the Bankruptcy Code, except by the U.S. Trustee.
8. The Moelis Retention Order also modifies certain time-keeping requirements such
that:
a. Moelis’ restructuring professionals shall be required only to keep summary time
records in half-hour increments.
b. Moelis’ nonrestructuring professionals and personnel in administrative
departments (including legal) shall not be required to keep any time records.
c. Moelis’ restructuring professionals shall not be required to keep time records
on a project category basis.
d. Moelis shall not be required to provide or conform to any schedule of hourly
rates.
Compensation & Expense Reimbursement
9. Moelis seeks allowance of compensation for professional services rendered to the
Committee during the Compensation Period in accordance with the Fee Structure, as such term is
defined in the Moelis Retention Order and provided for in the Engagement Letter, in the amount
of $675,000.00.3 Moelis also requests reimbursement of expenses incurred during the
3 During the term of Moelis’ engagement, as approved in the Moelis Retention Order and as set forth in the Moelis Engagement Letter, Moelis shall be paid a fee of $225,000 per month (the “Monthly Fee”) payable in advance of each month. Whether or not a Restructuring has taken place or will take place, Moelis shall earn and be paid the Monthly Fee every month during the term of the Engagement Letter.
6
Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 7 of 44
Compensation Period in the amount of $19,513.00.
10. The Interim Application is Moelis’ fourth interim application for compensation and
reimbursement of expenses filed in these Cases.
11. The following are attached in support of the Interim Application and in compliance
with the Moelis Retention Order:
a. Exhibit A is a list identifying each Moelis professional who rendered services
to the Committee during the Compensation Period.
b. Exhibit B is a summary of hours incurred by Moelis restructuring
professionals, who expended a total of 437.5 hours4 in connection with the
Cases during the Compensation Period. Including non-restructuring
professionals, Moelis investment-banking professionals expended a total of 476
hours in connection with the Cases during the Compensation Period.
c. Exhibit C is a summary of the expenses incurred by Moelis during the
Compensation Period with respect to each type of expense for which Moelis
seeks reimbursement. An itemized list of expenses incurred by Moelis during
the Compensation Period is attached hereto as Exhibit D.
d. Exhibit E are copies of the invoices from attorneys that provided legal services
to Moelis during the Compensation Period in connection with the Cases and for
which Moelis seeks reimbursement. The cost of such legal fees and expenses
incurred by Moelis during the Compensation Period amount to $19,513.00.
12. Pursuant to the Moelis Retention Order, and as of the date of the filing of the Interim
Application, Moelis has received payment of $360,000.00 for fees incurred for services rendered
4 Excluding all hours worked by Moelis professionals not within the restructuring group (these professionals have been listed in Exhibit A).
7
Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 8 of 44
and $14,383.00 in expense reimbursements requested for the Compensation Period.
13. In accordance with Bankruptcy Code §§ 328, 330 and 331, the Moelis Retention
Order, and the Interim Compensation Order, Moelis anticipates that the Debtors will pay the
compensation and expense reimbursement sought herein.
14. No agreement or understanding exists between Moelis and any other party for the
sharing of compensation received or to be received for services rendered in or in connection with
the Cases.
15. Although every effort has been made to include all fees and expenses incurred
during the Compensation Period, some fees and expenses might not be included in this Interim
Application due to delays caused in connection with accounting and processing of such time and
expenses. Accordingly, Moelis reserves the right to make further application to this Court.
Services Performed
16. In compliance with the Moelis Retention Order, Moelis has provided the following
summary description of services rendered on behalf of the Committee during the Compensation
Period.
17. Moelis’ work on behalf of the Committee involved tasks that are briefly
summarized below. The summary is not intended to be a detailed description of the work Moelis
has performed during the Compensation Period, but rather is a guideline offered to the Court and
other interested parties with respect to the services performed by Moelis.
a. Analysis of Plan Proposals. Moelis reviewed and analyzed multiple plan
proposals from various case constituencies received by the Committee’s
advisors over the course of the Compensation Period, and performed financial
analysis thereon (including comparison of key terms with those of the Debtors’
8
Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 9 of 44
current plan on file) and presented such analysis to the Committee where
appropriate.
b. Committee Communications. Moelis communicated with the Committee on
material updates, business developments, industry developments, and diligence
findings and analysis.
c. Third Party Communications. Moelis communicated with the Debtors, the
Debtors’ advisors, and certain other parties involved in these chapter 11
proceedings.
d. General Restructuring Matters. Moelis conducted certain general
restructuring services required in these cases, including, but not limited to,
addressing questions of individual members of the Committee,
communications, and other matters not falling into any of the service categories
listed above.
Relief
18. The compensation and reimbursement of expenses sought by Moelis in the Interim
Application satisfies the requirements for allowance under Bankruptcy Code §§ 328, 330 and 331,
Bankruptcy Rule 2016, Local Rule 2016-1, and the Interim Compensation Order.
19. Moelis has assisted and advised the Committee effectively and efficiently as its
investment banker in the Cases. Moelis provides a broad range of financial advisory services
including (a) mergers and acquisitions; (b) recapitalization and restructuring; (c) capital markets
advisory; and (d) private funds advisory. Moelis and its senior professionals have extensive
experience in the reorganization and restructuring of distressed companies, both out-of-court and
in chapter 11 proceedings.
9
Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 10 of 44
20. Moelis and its senior professionals have extensive experience in large and complex
restructuring and bankruptcy matters, both out-of-court and in chapter 11 cases. Moelis’ business
reorganization professionals have served as investment bankers and/or financial advisors in
numerous cases, including: In re The McClatchy Company, et al., Case No, 20-10418 (MEW)
(Bankr. S.D.N.Y. May 18, 2020) (D.I. 462); In re Internap Technology Solutions Inc., Case No.
20-22393 (RDD) (Bankr. S.D.N.Y. May 5, 2020) (D.I. 193); In re Whiting Petroleum Corporation,
Case No. 20-32021 (DRJ) (Bankr. S.D. Tex. May 9, 2020) (D.I. 259); In re RentPath Holdings,
Inc., Case No. 20-10312 (BLS) (Bankr. D. Del. Mar. 10, 2020) (D.I. 81); In re Sanchez Energy
Corporation, Case No. 19-34508 (MI) (Bankr. S.D.T.X. Oct. 21, 2019) (D.I. 495); In re Aegerion
Pharmaceuticals, Inc., Case No. 19-11632 (MG) (Bankr. S.D.N.Y. July 10, 2019) (D.I. 186); In re
Monitronics International, Inc., Case No. 19-33650 (DRJ) (Bankr. S.D.T.X. Aug. 5, 2019) (D.I.
183); In re Hexion Holdings LLC, Case No. 19-10684 (KG) (Bankr. D. Del. May 15, 2019) (D.I.
369); In re Aegean Marine Petr. Network Inc., Case No. 18-13374 (MEW) (Bankr. S.D.N.Y. Feb.
20, 2019) (D.I. 394); In re ATD Corp., Case No. 18-12221 (KJC) (Bankr. D. Del. Nov. 15, 2018);
In re Aralez Pharmaceuticals US Inc., Case No. 18-12425 (MG) (Bankr. S.D.N.Y. Nov. 1, 2018)
(D.I. 239); In re iHeartMedia, Inc., Case No. 18-31274 (MI) (Bankr. S.D. Tex. July 24, 2018) (D.I.
1165); In re Global A&T Electronics Ltd, Case No. 17-23931 (RDD) (Bankr. S.D.N.Y. Feb. 26,
2018) (D.I. 102); In re Toys “R” US, Inc., Case No. 17-34665 (KLP) (Bankr. ED. Va. Nov. 21,
2017) (D.I. 1054); In re TK Holdings, Inc., Case No. 17-11375 (BLS) (Bankr. D. Del. Aug. 30,
2017) (D.I. 657); In re Basic Energy Services, Inc., Case No. 16-12320 (KJC) (Bankr. D. Del.
Nov. 17, 2016) (D.I. 170); In re UCI International, LLC, Case No. 16-11354 (MFW) (Bankr. D.
Del. July 12, 2016) (D.I. 289); In re AOG Entm’t, Inc., Case No. 16-11090 (SMB) (Bankr.
S.D.N.Y. June 8, 2016) (D.I. 128); In re SFX Ent’mt, Inc., Case No. 16-10238 (MFW) (Bankr. D.
10
Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 11 of 44
Del. Mar. 21, 2016) (D.I. 265); In re Samson Res. Corp., Case No. 15-11934 (CSS) (Bankr. D.
Del. Dec. 9, 2015) (D.I. 450); In re Am. Apparel, Inc., Case No. 15-12055 (BLS) (Bankr. D. Del.
Nov. 30, 2015) (D.I. 390); In re Quicksilver Resources Inc., Case No. 15-10585 (LSS) (Bankr. D.
Del. May 8, 2015) (D.I. 332); In re Allied Nevada Gold Corp., Case No. 15-10503 (MFW) (Bankr.
D. Del. Apr. 15, 2015) (D.I. 201); In re ITR Concession Co., Case No. 14-34284 (PSH) (Bankr.
N.D. Ill. Oct. 28, 2014) (D.I. 180); In re MACH Gen, LLC, Case No. 14-10461 (MFW) (Bankr. D.
Del. Apr. 11, 2014) (D.I. 138); In re Sorenson Commc’ns, Inc., Case No. 14-10454 (BLS) (Bankr.
D. Del. Mar. 26, 2014) (D.I. 131); In re Cengage Learning, Inc., Case No. 13-44106 (ESS) (Bankr.
E.D.N.Y. Sept. 13, 2013) (D.I. 478); In re OSH 1 Liquidating Corp. f/k/a Orchard Supply
Hardware Stores Corp., Case No. 13-11565 (CSS) (Bankr. D. Del. July 15, 2013) (D.I. 221); In
re Revel AC, Inc., Case No. 13-16253 (JHW) (Bankr. D.N.J. Apr. 17, 2013) (D.I. 178); In re AMF
Bowling Worldwide, Inc., Case No. 12-36495 (KRH) (Bankr. E.D. Va. Dec. 20, 2012) (D.I. 269);
In re Residential Capital, LLC, Case No. 12-12020 (MG) (Bankr. S.D.N.Y. Aug. 30, 2012)
(D.I. 1315); In re AMR Corp., Case No. 11-15463 (SHL) (Bankr. S.D.N.Y. Mar. 7, 2012)
(D.I. 1651).
21. The Committee selected Moelis as their investment banker based upon, among
other things: (a) Moelis’ knowledge of the Debtors and the satellite telecommunications industry,
(b) the Committee’s need to retain a skilled investment banking firm such as Moelis to provide
advice with respect to the Debtors’ complex restructuring activities; and (c) Moelis’ extensive
experience and excellent reputation in providing investment banking and financial advisory
services in complex chapter 11 cases such as these. In light of the size and complexity of these
chapter 11 cases, Moelis’ resources, capabilities, and experience are crucial to the Committee’s
fulfillment of its duties in these cases. An experienced investment banker such as Moelis fulfills
11
Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 12 of 44
a critical need that complements the services provided by the Committee’s other restructuring
professionals.
22. The requested compensation is reasonable in amount, arises from actual and
necessary services provided by Moelis to the Committee during the Compensation Period, and
does not represent unnecessary duplication of services. Moelis worked assiduously to anticipate
or respond to the Committee’s needs in the Cases. At the time provided, Moelis’ services were
necessary to the administration of the Cases, particularly with regard to assisting and advising the
Committee in the execution of its duties under the Bankruptcy Code. Moelis’ services also
benefited the Committee in its efforts to advance the Cases and represent the interests of the
Debtors’ unsecured creditors, which efforts have in turn benefited the Debtors and the Debtors’
respective bankruptcy estates.
23. While Moelis’ requested compensation is subject to review and approval by the
Court under the standards set forth in section 328 of the Bankruptcy Code, Moelis asserts that the
subject services are reasonable given the complexity, importance and nature of the problem, issue
or task addressed. The amount of compensation is further reasonable based upon the customary
compensation charged by comparably skilled practitioners in cases other than those under Chapter
11 of the Bankruptcy Code.
24. The expenses for which Moelis has requested reimbursement were necessary,
reflect the actual cost of such expenses to Moelis, and do not constitute non-reimbursable
overhead.
25. The compensation and reimbursement of expenses sought by Moelis herein also
satisfy the factors set forth in Johnson v. Georgia Highway Express, 388 F.2d 714 (5th Cir. 1974)
12
Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 13 of 44
as applicable in this jurisdiction5:
a. The time and labor required. The time and labor required to render the services
provided by Moelis to the Committee during the Compensation Period and
further described herein was actual, necessary and reasonable under the
circumstances.
b. The novelty and difficulty of the Cases. The Cases are enormously complex.
The Debtors’ organizational structure spans over 30 entities across multiple
domestic and international jurisdictions. The Debtors’ organizational structure
further contains various intercompany claims, different guarantees and liens
amongst the different entities, and inter-entity dynamics that add to the overall
complexity of the Cases.
c. The skill required to perform services properly. Each of the novel and difficult
issues presented in this case has required the dedicated and diligent attention of
Moelis’ professionals. Moelis believes that its professionals have demonstrated
the skill levels necessary for the vigorous representation of the Committee’s
interests and the interests of all unsecured creditors in this case.
d. The preclusion of employment due to acceptance of the case. Acceptance of
this case did not preclude other employment.
e. The customary fee. The rates charged by Moelis in this case are commensurate
with rates it charges similar clients in similar matters.
f. Whether the fee is fixed or contingent. The fees requested herein are fixed
according to the schedule provided for in the Moelis Retention Order and
5 Barber v. Kimbrells, Inc., 577 F.2d 216, 226 (4th Cir. 1978), cert. denied, 439 U.S. 934 (1978); Anderson v. Morris, 658 F.2d 246, 249 (4th Cir. 1981); In re Grubb, 2010 WL 396181 at *5 (Bankr. E.D.VA. 2010).
13
Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 14 of 44
related Moelis Engagement Letter.
g. Time limitations imposed by the client or the circumstances. This case poses
the normal time pressures inherent in any Chapter 11 case.
h. The amount involved and the results obtained. Moelis’ services constitute value
added to the Committee including, but not limited to substantial due diligence
on the Debtors’ business and materials disclosed by the Debtors.
i. The experience, reputation and ability of the bankers. Moelis is widely
recognized as one of the premier investment banking firms in the country. The
Moelis professionals working on this matter have substantial experience with
creditor committees and highly complex restructuring matters.
j. The undesirability of the case. Moelis is privileged to have the opportunity to
advise the Committee in the Cases.
k. The nature and length of the professional relationship with the client. The
Committee’s retention of Moelis as its investment banker was effective nunc
pro tunc to May 29, 2020.
l. Awards in similar cases. The fees requested in this case are in line with
compensation allowances awarded in other chapter 11 cases.
26. The Interim Application represents a reasonable effort to comply with the
guidelines established by the Office of the United States Trustee, including the Guidelines for
Reviewing Applications for Compensation and Reimbursement of Expenses Filed under 11 U.S.C.
§ 330 by Attorneys in Larger Chapter 11 Cases Effective as of November 1, 2013, subject to the
terms and waivers provided for in the Moelis Retention Order.
27. The Committee has reviewed and is in agreement with the amounts requested
14
Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 15 of 44
herein.
Notice
28. In accordance with the Interim Compensation Order, a copy of the Interim
Application has been or will shortly be provided by hand or overnight delivery, on: (i) the Debtors,
Intelsat S.A., 7900 Tysons One Place, McLean, VA 22102, Attn: Michelle Bryan, Executive Vice
President, General Counsel and Chief Administrative Officer; (ii) counsel to the Debtors, Kirkland
& Ellis LLP, 601 Lexington Avenue, New York, New York 10022, Attn: Steven Serajeddini, P.C.
([email protected]), Anthony R. Grossi ([email protected]), and
Ameneh Bordi ([email protected]) (iii) co-counsel to the Debtors, Kutak Rock LLP,
901 East Byrd Street, Suite 1000, Richmond Virginia 23219, Attn: Michael A. Condyles
([email protected]), Peter J. Barrett ([email protected]), Jeremy S.
Williams ([email protected]), and Brian H. Richardson
([email protected]); (iv) counsel to an ad hoc group of certain holders of the
Debtors’ secured term loan and secured notes (the “Intelsat Jackson Ad Hoc Group”), Akin Gump
Strauss Hauer & Feld LLP, One Bryant Park, New York, New York 10036, Attn: Ira S. Dizengoff;
([email protected]), Abid Qureshi ([email protected]), and Brad Kahn
([email protected]); (v) counsel to an ad hoc group of certain crossover holders of the
Debtors’ secured term loan and secured notes (the “Intelsat Jackson Crossover Ad Hoc Group”),
Jones Day, 250 Vesey St., New York, New York 10281, Attn: Bruce Bennett;
([email protected]), Joshua Brody ([email protected]), and Peter Saba
([email protected]); (vi) counsel to any statutory committee appointed in these cases; (vii) the
Office of the United States Trustee, 701 East Broad Street, Suite 4304, Richmond, Virginia 23219,
Attn: Kenneth N. Whitehurst III, B. Webb King, Shannon F. Pecoraro, and Kathryn R.
15
Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 16 of 44
Montgomery; and (viii) Robert J. Keach ([email protected]), Bernstein, Shur, Sawyer &
Nelson PA, 100 Middle Street, West Tower, Portland, ME, 04101, as Fee Examiner.
WHEREFORE, based upon the foregoing and for good cause shown, Moelis respectfully
requests that the Court:
A. Approve and allow compensation to Moelis for services provided to the Committee
during the Compensation Period in the amount of $675,000.00 and reimbursement
of expenses incurred by Moelis during the same period in the amount of
$19,513.00;
B. Authorize and direct the Debtors to pay to Moelis all outstanding and unpaid
compensation and expense reimbursements hereby approved and allowed, which
in the aggregate total $320,130.00;
C. Allow such other compensation for professional services rendered and
reimbursement of actual and necessary expenses incurred without prejudice to
Moelis’ right to seek additional compensation for services performed and expenses
incurred during the Compensation Period that were not processed at the time of this
Interim Application; and
D. Grant such other and further relief as the Court may find just and reasonable.
16
Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 17 of 44
Dated: July 30, 2021 OFFICIAL COMMITTEE OF UNSECURED CREDITORS
/s/ Justin F. Paget Tyler P. Brown (VSB No. 28072) Justin F. Paget (VSB No. 77949) Jennifer E. Wuebker (VSB 91184) HUNTON ANDREWS KURTH LLP Riverfront Plaza, East Tower 951 East Byrd Street Richmond, Virginia 23219 Telephone: (804) 788-8200 Facsimile: (804) 788-8218
-and-
Dennis F. Dunne. Esq. (admitted pro hac vice) Alan J. Stone, Esq. (admitted pro hac vice) Matthew Brod, Esq. (admitted pro hac vice) MILBANK LLP 55 Hudson Yards New York, New York 10001 Telephone: (212) 530-5000 Facsimile: (212) 530-5219
Andrew M. Leblanc, Esq. (admitted pro hac vice) S. Robert Marsters, Jr., Esq. (admitted pro hac vice) MILBANK LLP 1850 K Street, NW, Suite 1100 Washington DC 2006 Telephone: (202) 835-7500 Facsimile: (202) 263-7586 Co-Counsel to Official Committee of Unsecured Creditors
/s/ Barak Klein Barak Klein Managing Director Moelis & Company, LLC 399 Park Avenue, 5th Floor New York, NY 10022 Telephone: (212) 883-3800 Investment Banker to the Official Committee of Unsecured Creditors
17
Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 18 of 44
EXHIBIT A
LIST OF PROFESSIONALS
Restructuring Professionals:
William Derrough Barak Klein Adam Waldman Milad Sedeh Brian Cherry Taro Tan Audrey Zhang Benjamin Wallace
Non-Restructuring Professionals6:
Lawrence Chu Nick Brown
6 Excludes non-investment banking professionals (e.g., legal and compliance, accounting, business management and administrative)
Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 19 of 44
EXHIBIT B
SUMMARY TIME RECORDS DURING COMPENSATION PERIOD
Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 20 of 44
Summary of Hours Moelis & Company Summary of Hours Worked March 1, 2021 - May 31, 2021
Lawrence William Adam Audrey Benjamin Barak Klein Nick Brown Milad Sedeh Brian Cherry Taro Tan Total Chu Derrough Waldman Zhang Wallace
Managing Managing Managing Executive Executive Vice President Associate Associate Analyst Analyst Director Director Director Director Director
Month March 2021 6.5 7.0 10.0 15.0 12.0 28.5 28.5 31.5 47.0 0.0 186.0 April 2021 4.5 5.5 13.0 10.5 9.0 22.5 0.0 51.5 35.0 36.5 188.0 May 2021 1.5 3.0 3.0 8.0 5.0 11.5 0.0 30.0 11.0 29.0 102.0 Total 12.5 15.5 26.0 33.5 26.0 62.5 28.5 113.0 93.0 65.5 476.0 Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 21 of 44
Summary of Hours - March 2021 Lawrence William Adam Audrey Benjamin Barak Klein Nick Brown Milad Sedeh Brian Cherry Taro Tan Total Chu Derrough Waldman Zhang Wallace Managing Managing Managing Executive Executive Vice President Associate Associate Analyst Analyst Director Director Director Director Director Month 3/1/21 0.0 0.0 0.5 1.0 0.5 2.5 4.5 0.0 6.0 0.0 15.0 3/2/21 0.0 1.0 1.5 1.5 1.0 5.0 5.5 0.0 7.0 0.0 22.5 3/3/21 1.5 1.0 1.0 1.0 1.5 2.5 4.0 0.0 4.0 0.0 16.5 3/6/21 0.0 0.0 0.0 1.0 0.0 1.0 1.0 0.0 1.0 0.0 4.0 3/8/21 0.0 0.0 0.0 0.0 0.5 0.5 2.0 0.0 2.0 0.0 5.0 3/9/21 0.0 0.5 0.5 1.0 0.5 1.0 1.0 0.0 1.0 0.0 5.5 3/10/21 1.0 0.5 0.5 2.5 1.0 3.5 4.5 0.0 4.0 0.0 17.5 3/15/21 0.0 0.0 0.0 0.5 0.5 1.0 2.0 0.0 2.0 0.0 6.0 3/16/21 0.0 0.5 0.5 0.5 0.5 0.5 0.5 0.0 0.5 0.0 3.5 3/17/21 1.5 1.0 3.0 3.0 1.5 3.0 3.5 0.0 3.0 0.0 19.5 3/22/21 0.0 0.0 0.0 0.0 0.5 1.5 0.0 7.0 3.0 0.0 12.0 3/23/21 0.0 0.5 0.5 0.5 0.5 0.5 0.0 4.0 2.5 0.0 9.0 3/24/21 1.5 1.0 1.0 1.0 1.5 1.0 0.0 1.0 1.0 0.0 9.0 3/25/21 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.0 0.0 0.0 3.0 3/28/21 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5.0 0.0 0.0 5.0 3/29/21 0.0 0.0 0.0 0.5 0.5 2.5 0.0 6.0 6.0 0.0 15.5 3/30/21 0.0 0.5 0.5 0.5 0.5 1.5 0.0 1.5 1.5 0.0 6.5 3/31/21 1.0 0.5 0.5 0.5 1.0 1.0 0.0 4.0 2.5 0.0 11.0 Total 6.5 7.0 10.0 15.0 12.0 28.5 28.5 31.5 47.0 0.0 186.0
Summary of Hours - April 2021 Lawrence William Adam Audrey Benjamin Barak Klein Nick Brown Milad Sedeh Brian Cherry Taro Tan Total Chu Derrough Waldman Zhang Wallace Managing Managing Managing Executive Executive Vice President Associate Associate Analyst Analyst Director Director Director Director Director Month 4/5/21 0.0 0.5 2.5 1.0 0.5 5.0 0.0 11.5 9.5 4.0 34.5 4/6/21 0.0 1.0 3.0 3.0 1.0 4.5 0.0 7.5 5.5 3.0 28.5 4/7/21 1.5 1.0 1.0 1.0 1.5 4.0 0.0 7.5 5.5 3.0 26.0 4/8/21 0.0 0.0 0.0 0.0 0.0 1.0 0.0 1.0 2.0 0.0 4.0 4/9/21 0.0 0.0 0.5 0.5 0.0 0.5 0.0 2.5 0.5 2.0 6.5 4/12/21 0.0 0.0 0.0 0.0 0.5 0.5 0.0 7.0 2.0 5.0 15.0 4/13/21 0.0 0.5 1.5 0.5 0.5 0.5 0.0 0.5 0.5 0.0 4.5 4/14/21 0.5 0.0 0.0 0.5 0.5 0.5 0.0 0.5 0.5 2.5 5.5 4/15/21 0.5 0.5 2.0 0.5 0.5 0.5 0.0 0.5 0.5 1.0 6.5 4/16/21 0.0 0.0 0.5 0.5 0.0 0.5 0.0 0.5 0.5 0.0 2.5 4/19/21 0.0 0.0 0.0 0.0 0.5 0.5 0.0 2.0 2.0 3.0 8.0 4/20/21 0.0 0.5 0.5 1.0 0.5 1.5 0.0 1.5 1.5 1.0 8.0 4/21/21 1.0 0.5 0.5 0.5 1.0 0.5 0.0 1.5 0.5 1.5 7.5 4/26/21 0.0 0.0 0.0 0.0 0.5 0.5 0.0 5.0 2.0 4.0 12.0 4/27/21 0.0 0.5 0.5 1.0 0.5 1.0 0.0 1.0 1.0 1.0 6.5 4/28/21 1.0 0.5 0.5 0.5 1.0 1.0 0.0 1.5 1.0 5.0 12.0 4/29/21 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.5 Total 4.5 5.5 13.0 10.5 9.0 22.5 0.0 51.5 35.0 36.5 188.0 Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 22 of 44
Summary of Hours - May 2021 Lawrence William Adam Audrey Benjamin Barak Klein Nick Brown Milad Sedeh Brian Cherry Taro Tan Total Chu Derrough Waldman Zhang Wallace Managing Managing Managing Executive Executive Vice President Associate Associate Analyst Analyst Director Director Director Director Director Month 5/3/21 0.0 0.0 0.0 0.0 0.5 0.5 0.0 2.0 0.0 2.0 5.0 5/4/21 0.0 0.5 0.5 1.5 0.5 1.5 0.0 1.0 1.5 1.5 8.5 5/5/21 0.5 0.5 0.5 0.5 0.5 0.5 0.0 0.5 0.5 0.5 4.5 5/10/21 0.0 0.0 0.0 1.0 0.5 1.5 0.0 8.5 1.0 8.0 20.5 5/11/21 0.0 0.5 0.5 0.5 0.5 0.5 0.0 0.0 0.5 0.5 3.5 5/14/21 0.5 0.5 0.5 1.0 0.5 1.0 0.0 1.5 1.5 1.5 8.5 5/17/21 0.0 0.0 0.0 0.0 0.5 0.5 0.0 2.0 0.0 2.0 5.0 5/18/21 0.0 0.5 0.5 1.5 0.5 3.0 0.0 6.0 3.0 6.0 21.0 5/19/21 0.5 0.5 0.5 0.5 0.5 0.5 0.0 0.5 0.5 0.5 4.5 5/24/21 0.0 0.0 0.0 1.5 0.5 2.0 0.0 8.0 2.5 6.5 21.0 Total 1.5 3.0 3.0 8.0 5.0 11.5 0.0 30.0 11.0 29.0 102.0 Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 23 of 44
Intelsat - Committee of Unsecured Creditors Moelis & Company Summary of Hours Worked
DATE HOURS NAME DESCRIPTION
03/01/21 2.0 hour(s) Brian Cherry Prepare weekly UCC materials 03/01/21 2.0 hour(s) Audrey Zhang Prepare weekly UCC materials 03/01/21 0.5 hour(s) Nick Brown Prepare weekly UCC materials 03/01/21 0.5 hour(s) Milad Sedeh Prepare weekly UCC materials 03/01/21 2.0 hour(s) Audrey Zhang Retention matters 03/01/21 0.5 hour(s) Brian Cherry Retention matters 03/01/21 0.5 hour(s) Barak Klein Review of Plan proposal term sheet 03/01/21 1.0 hour(s) Adam Waldman Review of Plan proposal term sheet 03/01/21 2.0 hour(s) Milad Sedeh Review of Plan proposal term sheet 03/01/21 2.0 hour(s) Brian Cherry Review of Plan proposal term sheet 03/01/21 2.0 hour(s) Audrey Zhang Review of Plan proposal term sheet 03/02/21 0.5 hour(s) Milad Sedeh Call with HL 03/02/21 0.5 hour(s) Adam Waldman Call with HL 03/02/21 0.5 hour(s) Barak Klein Call with HL 03/02/21 1.0 hour(s) Audrey Zhang Internal team call 03/02/21 1.0 hour(s) Brian Cherry Internal team call 03/02/21 1.0 hour(s) Milad Sedeh Internal team call 03/02/21 5.0 hour(s) Audrey Zhang Preparation of Plan financial analysis for the UCC 03/02/21 3.5 hour(s) Brian Cherry Preparation of Plan financial analysis for the UCC 03/02/21 2.5 hour(s) Milad Sedeh Preparation of Plan financial analysis for the UCC 03/02/21 1.0 hour(s) William Derrough Weekly advisors call 03/02/21 1.0 hour(s) Barak Klein Weekly advisors call 03/02/21 1.0 hour(s) Adam Waldman Weekly advisors call 03/02/21 1.0 hour(s) Nick Brown Weekly advisors call 03/02/21 1.0 hour(s) Milad Sedeh Weekly advisors call 03/02/21 1.0 hour(s) Brian Cherry Weekly advisors call 03/02/21 1.0 hour(s) Audrey Zhang Weekly advisors call 03/03/21 1.0 hour(s) William Derrough Call with UCC and UCC advisors 03/03/21 1.0 hour(s) Nick Brown Call with UCC and UCC advisors 03/03/21 1.0 hour(s) Milad Sedeh Call with UCC and UCC advisors 03/03/21 1.0 hour(s) Lawrence Chu Call with UCC and UCC advisors 03/03/21 1.0 hour(s) Brian Cherry Call with UCC and UCC advisors 03/03/21 1.0 hour(s) Barak Klein Call with UCC and UCC advisors 03/03/21 1.0 hour(s) Audrey Zhang Call with UCC and UCC advisors 03/03/21 1.0 hour(s) Adam Waldman Call with UCC and UCC advisors 03/03/21 3.0 hour(s) Audrey Zhang Preparation of Plan financial analysis for the UCC 03/03/21 2.5 hour(s) Brian Cherry Preparation of Plan financial analysis for the UCC 03/03/21 1.5 hour(s) Milad Sedeh Preparation of Plan financial analysis for the UCC 03/03/21 0.5 hour(s) Nick Brown Weekly regulatory call 03/03/21 0.5 hour(s) Lawrence Chu Weekly regulatory call 03/03/21 0.5 hour(s) Brian Cherry Weekly regulatory call 03/06/21 1.0 hour(s) Adam Waldman Review of equity committee motion 03/06/21 1.0 hour(s) Milad Sedeh Review of equity committee motion 03/06/21 1.0 hour(s) Brian Cherry Review of equity committee motion 03/06/21 1.0 hour(s) Audrey Zhang Review of equity committee motion 03/08/21 2.0 hour(s) Brian Cherry Prepare weekly UCC materials 03/08/21 2.0 hour(s) Audrey Zhang Prepare weekly UCC materials 03/08/21 0.5 hour(s) Nick Brown Prepare weekly UCC materials 03/08/21 0.5 hour(s) Milad Sedeh Prepare weekly UCC materials Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 24 of 44
Intelsat - Committee of Unsecured Creditors Moelis & Company Summary of Hours Worked
DATE HOURS NAME DESCRIPTION
03/09/21 0.5 hour(s) Adam Waldman Review of UCC statement regarding scheduling motion 03/09/21 0.5 hour(s) Milad Sedeh Review of UCC statement regarding scheduling motion 03/09/21 0.5 hour(s) Brian Cherry Review of UCC statement regarding scheduling motion 03/09/21 0.5 hour(s) Audrey Zhang Review of UCC statement regarding scheduling motion 03/09/21 0.5 hour(s) William Derrough Weekly advisors call 03/09/21 0.5 hour(s) Barak Klein Weekly advisors call 03/09/21 0.5 hour(s) Adam Waldman Weekly advisors call 03/09/21 0.5 hour(s) Nick Brown Weekly advisors call 03/09/21 0.5 hour(s) Milad Sedeh Weekly advisors call 03/09/21 0.5 hour(s) Brian Cherry Weekly advisors call 03/09/21 0.5 hour(s) Audrey Zhang Weekly advisors call 03/10/21 0.5 hour(s) William Derrough Call with UCC and UCC advisors 03/10/21 0.5 hour(s) Nick Brown Call with UCC and UCC advisors 03/10/21 0.5 hour(s) Milad Sedeh Call with UCC and UCC advisors 03/10/21 0.5 hour(s) Lawrence Chu Call with UCC and UCC advisors 03/10/21 0.5 hour(s) Brian Cherry Call with UCC and UCC advisors 03/10/21 0.5 hour(s) Barak Klein Call with UCC and UCC advisors 03/10/21 0.5 hour(s) Audrey Zhang Call with UCC and UCC advisors 03/10/21 0.5 hour(s) Adam Waldman Call with UCC and UCC advisors 03/10/21 2.0 hour(s) Adam Waldman Hearing attendance 03/10/21 2.0 hour(s) Milad Sedeh Hearing attendance 03/10/21 2.0 hour(s) Brian Cherry Hearing attendance 03/10/21 2.0 hour(s) Audrey Zhang Hearing attendance 03/10/21 0.5 hour(s) Brian Cherry Retention matters 03/10/21 0.5 hour(s) Audrey Zhang Retention matters 03/10/21 1.0 hour(s) Milad Sedeh Review of UCC response to equity committee motion 03/10/21 1.0 hour(s) Brian Cherry Review of UCC response to equity committee motion 03/10/21 1.0 hour(s) Audrey Zhang Review of UCC response to equity committee motion 03/10/21 0.5 hour(s) Nick Brown Weekly regulatory call 03/10/21 0.5 hour(s) Lawrence Chu Weekly regulatory call 03/10/21 0.5 hour(s) Brian Cherry Weekly regulatory call 03/15/21 0.5 hour(s) Milad Sedeh Call with PJT 03/15/21 0.5 hour(s) Adam Waldman Call with PJT 03/15/21 2.0 hour(s) Brian Cherry Prepare weekly UCC materials 03/15/21 2.0 hour(s) Audrey Zhang Prepare weekly UCC materials 03/15/21 0.5 hour(s) Nick Brown Prepare weekly UCC materials 03/15/21 0.5 hour(s) Milad Sedeh Prepare weekly UCC materials 03/16/21 0.5 hour(s) William Derrough Weekly advisors call 03/16/21 0.5 hour(s) Barak Klein Weekly advisors call 03/16/21 0.5 hour(s) Adam Waldman Weekly advisors call 03/16/21 0.5 hour(s) Nick Brown Weekly advisors call 03/16/21 0.5 hour(s) Milad Sedeh Weekly advisors call 03/16/21 0.5 hour(s) Brian Cherry Weekly advisors call 03/16/21 0.5 hour(s) Audrey Zhang Weekly advisors call 03/17/21 2.0 hour(s) Barak Klein Advisors call 03/17/21 1.0 hour(s) William Derrough Call with UCC and UCC advisors 03/17/21 1.0 hour(s) Nick Brown Call with UCC and UCC advisors 03/17/21 1.0 hour(s) Milad Sedeh Call with UCC and UCC advisors 03/17/21 1.0 hour(s) Lawrence Chu Call with UCC and UCC advisors Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 25 of 44
Intelsat - Committee of Unsecured Creditors Moelis & Company Summary of Hours Worked
DATE HOURS NAME DESCRIPTION
03/17/21 1.0 hour(s) Brian Cherry Call with UCC and UCC advisors 03/17/21 1.0 hour(s) Barak Klein Call with UCC and UCC advisors 03/17/21 1.0 hour(s) Audrey Zhang Call with UCC and UCC advisors 03/17/21 1.0 hour(s) Adam Waldman Call with UCC and UCC advisors 03/17/21 2.0 hour(s) Adam Waldman Hearing attendance 03/17/21 2.0 hour(s) Milad Sedeh Hearing attendance 03/17/21 2.0 hour(s) Brian Cherry Hearing attendance 03/17/21 2.0 hour(s) Audrey Zhang Hearing attendance 03/17/21 0.5 hour(s) Nick Brown Weekly regulatory call 03/17/21 0.5 hour(s) Lawrence Chu Weekly regulatory call 03/17/21 0.5 hour(s) Brian Cherry Weekly regulatory call 03/22/21 1.0 hour(s) Audrey Zhang Internal team call 03/22/21 1.0 hour(s) Milad Sedeh Internal team call 03/22/21 1.0 hour(s) Taro Tan Internal team call 03/22/21 2.0 hour(s) Taro Tan Prepare weekly UCC materials 03/22/21 2.0 hour(s) Audrey Zhang Prepare weekly UCC materials 03/22/21 0.5 hour(s) Nick Brown Prepare weekly UCC materials 03/22/21 0.5 hour(s) Milad Sedeh Prepare weekly UCC materials 03/22/21 4.0 hour(s) Taro Tan Review of prior process materials 03/23/21 2.0 hour(s) Audrey Zhang Review & updates to recovery model 03/23/21 3.0 hour(s) Taro Tan Review of recovery model 03/23/21 0.5 hour(s) Taro Tan Weekly advisors call 03/23/21 0.5 hour(s) William Derrough Weekly advisors call 03/23/21 0.5 hour(s) Barak Klein Weekly advisors call 03/23/21 0.5 hour(s) Adam Waldman Weekly advisors call 03/23/21 0.5 hour(s) Nick Brown Weekly advisors call 03/23/21 0.5 hour(s) Milad Sedeh Weekly advisors call 03/23/21 0.5 hour(s) Audrey Zhang Weekly advisors call 03/23/21 0.5 hour(s) Taro Tan Weekly advisors call 03/24/21 1.0 hour(s) William Derrough Call with UCC and UCC advisors 03/24/21 1.0 hour(s) Nick Brown Call with UCC and UCC advisors 03/24/21 1.0 hour(s) Milad Sedeh Call with UCC and UCC advisors 03/24/21 1.0 hour(s) Lawrence Chu Call with UCC and UCC advisors 03/24/21 1.0 hour(s) Barak Klein Call with UCC and UCC advisors 03/24/21 1.0 hour(s) Audrey Zhang Call with UCC and UCC advisors 03/24/21 1.0 hour(s) Adam Waldman Call with UCC and UCC advisors 03/24/21 1.0 hour(s) Taro Tan Call with UCC and UCC advisors 03/24/21 0.5 hour(s) Nick Brown Weekly regulatory call 03/24/21 0.5 hour(s) Lawrence Chu Weekly regulatory call 03/25/21 3.0 hour(s) Taro Tan Review of prior process materials 03/28/21 5.0 hour(s) Taro Tan Review of prior process materials 03/29/21 2.0 hour(s) Taro Tan Prepare weekly UCC materials 03/29/21 2.0 hour(s) Audrey Zhang Prepare weekly UCC materials 03/29/21 0.5 hour(s) Nick Brown Prepare weekly UCC materials 03/29/21 0.5 hour(s) Milad Sedeh Prepare weekly UCC materials 03/29/21 1.0 hour(s) Milad Sedeh Review of draft Debtors' financial statement filings 03/29/21 2.0 hour(s) Taro Tan Review of draft Debtors' financial statement filings 03/29/21 2.0 hour(s) Audrey Zhang Review of draft Debtors' financial statement filings 03/29/21 0.5 hour(s) Adam Waldman Review of FTI materials on SES scenarios Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 26 of 44
Intelsat - Committee of Unsecured Creditors Moelis & Company Summary of Hours Worked
DATE HOURS NAME DESCRIPTION
03/29/21 1.0 hour(s) Milad Sedeh Review of FTI materials on SES scenarios 03/29/21 2.0 hour(s) Taro Tan Review of FTI materials on SES scenarios 03/29/21 2.0 hour(s) Audrey Zhang Review of FTI materials on SES scenarios 03/30/21 1.0 hour(s) Milad Sedeh Review of Milbank materials for weekly UCC call 03/30/21 1.0 hour(s) Taro Tan Review of Milbank materials for weekly UCC call 03/30/21 1.0 hour(s) Audrey Zhang Review of Milbank materials for weekly UCC call 03/30/21 0.5 hour(s) Taro Tan Weekly advisors call 03/30/21 0.5 hour(s) William Derrough Weekly advisors call 03/30/21 0.5 hour(s) Barak Klein Weekly advisors call 03/30/21 0.5 hour(s) Adam Waldman Weekly advisors call 03/30/21 0.5 hour(s) Nick Brown Weekly advisors call 03/30/21 0.5 hour(s) Milad Sedeh Weekly advisors call 03/30/21 0.5 hour(s) Audrey Zhang Weekly advisors call 03/31/21 0.5 hour(s) Taro Tan Call with UCC and UCC advisors 03/31/21 0.5 hour(s) William Derrough Call with UCC and UCC advisors 03/31/21 0.5 hour(s) Nick Brown Call with UCC and UCC advisors 03/31/21 0.5 hour(s) Milad Sedeh Call with UCC and UCC advisors 03/31/21 0.5 hour(s) Lawrence Chu Call with UCC and UCC advisors 03/31/21 0.5 hour(s) Barak Klein Call with UCC and UCC advisors 03/31/21 0.5 hour(s) Audrey Zhang Call with UCC and UCC advisors 03/31/21 0.5 hour(s) Adam Waldman Call with UCC and UCC advisors 03/31/21 2.0 hour(s) Audrey Zhang Retention matters 03/31/21 0.5 hour(s) Taro Tan Retention matters 03/31/21 0.5 hour(s) Milad Sedeh Retention matters 03/31/21 3.0 hour(s) Taro Tan Review of prior process materials 03/31/21 0.5 hour(s) Nick Brown Weekly regulatory call 03/31/21 0.5 hour(s) Lawrence Chu Weekly regulatory call 04/05/21 0.5 hour(s) Taro Tan Internal team call 04/05/21 0.5 hour(s) Milad Sedeh Internal team call 04/05/21 0.5 hour(s) Audrey Zhang Internal team call 04/05/21 2.0 hour(s) Milad Sedeh Preparation of term sheet financial analysis for the UCC 04/05/21 3.0 hour(s) Taro Tan Preparation of term sheet financial analysis for the UCC 04/05/21 5.0 hour(s) Audrey Zhang Preparation of term sheet financial analysis for the UCC 04/05/21 2.0 hour(s) Taro Tan Prepare weekly UCC materials 04/05/21 2.0 hour(s) Audrey Zhang Prepare weekly UCC materials 04/05/21 0.5 hour(s) Nick Brown Prepare weekly UCC materials 04/05/21 0.5 hour(s) Milad Sedeh Prepare weekly UCC materials 04/05/21 2.0 hour(s) Milad Sedeh Review of Crossover Group and Company term sheets 04/05/21 2.0 hour(s) Taro Tan Review of Crossover Group and Company term sheets 04/05/21 2.0 hour(s) Audrey Zhang Review of Crossover Group and Company term sheets 04/05/21 1.0 hour(s) Adam Waldman Review of Crossover Group and Company term sheets 04/05/21 2.5 hour(s) Barak Klein Review of Crossover Group and Company term sheets 04/05/21 0.5 hour(s) William Derrough Review of Crossover Group and Company term sheets 04/05/21 4.0 hour(s) Benjamin Wallace Review of prior process materials 04/05/21 4.0 hour(s) Taro Tan Review of prior process materials 04/06/21 0.5 hour(s) Taro Tan Call with PJT to discuss term sheet analysis 04/06/21 0.5 hour(s) Milad Sedeh Call with PJT to discuss term sheet analysis 04/06/21 0.5 hour(s) Audrey Zhang Call with PJT to discuss term sheet analysis 04/06/21 3.0 hour(s) Milad Sedeh Preparation of term sheet financial analysis for the UCC Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 27 of 44
Intelsat - Committee of Unsecured Creditors Moelis & Company Summary of Hours Worked
DATE HOURS NAME DESCRIPTION
04/06/21 3.0 hour(s) Taro Tan Preparation of term sheet financial analysis for the UCC 04/06/21 4.0 hour(s) Audrey Zhang Preparation of term sheet financial analysis for the UCC 04/06/21 2.0 hour(s) Adam Waldman Review of term sheet financial analysis for the UCC 04/06/21 2.0 hour(s) Barak Klein Review of analysis 04/06/21 3.0 hour(s) Benjamin Wallace Review of recovery model 04/06/21 3.0 hour(s) Taro Tan Review of recovery model 04/06/21 1.0 hour(s) Taro Tan Weekly advisors call 04/06/21 1.0 hour(s) William Derrough Weekly advisors call 04/06/21 1.0 hour(s) Barak Klein Weekly advisors call 04/06/21 1.0 hour(s) Adam Waldman Weekly advisors call 04/06/21 1.0 hour(s) Nick Brown Weekly advisors call 04/06/21 1.0 hour(s) Milad Sedeh Weekly advisors call 04/06/21 1.0 hour(s) Audrey Zhang Weekly advisors call 04/07/21 1.0 hour(s) Taro Tan Call with UCC and UCC advisors 04/07/21 1.0 hour(s) William Derrough Call with UCC and UCC advisors 04/07/21 1.0 hour(s) Nick Brown Call with UCC and UCC advisors 04/07/21 1.0 hour(s) Milad Sedeh Call with UCC and UCC advisors 04/07/21 1.0 hour(s) Lawrence Chu Call with UCC and UCC advisors 04/07/21 1.0 hour(s) Barak Klein Call with UCC and UCC advisors 04/07/21 1.0 hour(s) Audrey Zhang Call with UCC and UCC advisors 04/07/21 1.0 hour(s) Adam Waldman Call with UCC and UCC advisors 04/07/21 0.5 hour(s) Taro Tan Internal team call 04/07/21 0.5 hour(s) Milad Sedeh Internal team call 04/07/21 0.5 hour(s) Audrey Zhang Internal team call 04/07/21 2.0 hour(s) Milad Sedeh Preparation of term sheet financial analysis for the UCC 04/07/21 2.0 hour(s) Taro Tan Preparation of term sheet financial analysis for the UCC 04/07/21 3.0 hour(s) Audrey Zhang Preparation of term sheet financial analysis for the UCC 04/07/21 0.5 hour(s) Milad Sedeh Retention matters 04/07/21 1.0 hour(s) Taro Tan Retention matters 04/07/21 1.0 hour(s) Audrey Zhang Retention matters 04/07/21 0.5 hour(s) Nick Brown Weekly regulatory call 04/07/21 0.5 hour(s) Lawrence Chu Weekly regulatory call 04/07/21 3.0 hour(s) Benjamin Wallace Review of prior process materials 04/07/21 3.0 hour(s) Taro Tan Review of prior process materials 04/08/21 0.5 hour(s) Taro Tan Internal team call 04/08/21 0.5 hour(s) Milad Sedeh Internal team call 04/08/21 0.5 hour(s) Audrey Zhang Internal team call 04/08/21 1.5 hour(s) Audrey Zhang Retention matters 04/08/21 0.5 hour(s) Milad Sedeh Retention matters 04/08/21 0.5 hour(s) Taro Tan Retention matters 04/09/21 0.5 hour(s) Barak Klein Review of draft mediation statement 04/09/21 0.5 hour(s) Adam Waldman Review of draft mediation statement 04/09/21 0.5 hour(s) Milad Sedeh Review of draft mediation statement 04/09/21 0.5 hour(s) Taro Tan Review of draft mediation statement 04/09/21 0.5 hour(s) Audrey Zhang Review of draft mediation statement 04/09/21 2.0 hour(s) Benjamin Wallace Review of prior process materials 04/09/21 2.0 hour(s) Taro Tan Review of prior process materials 04/12/21 2.0 hour(s) Taro Tan Prepare weekly UCC materials 04/12/21 2.0 hour(s) Audrey Zhang Prepare weekly UCC materials Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 28 of 44
Intelsat - Committee of Unsecured Creditors Moelis & Company Summary of Hours Worked
DATE HOURS NAME DESCRIPTION
04/12/21 0.5 hour(s) Nick Brown Prepare weekly UCC materials 04/12/21 0.5 hour(s) Milad Sedeh Prepare weekly UCC materials 04/12/21 5.0 hour(s) Benjamin Wallace Review of prior process materials 04/12/21 5.0 hour(s) Taro Tan Review of prior process materials 04/13/21 0.5 hour(s) Taro Tan Weekly advisors call 04/13/21 0.5 hour(s) William Derrough Weekly advisors call 04/13/21 1.0 hour(s) Barak Klein Review of analysis 04/13/21 0.5 hour(s) Barak Klein Weekly advisors call 04/13/21 0.5 hour(s) Adam Waldman Weekly advisors call 04/13/21 0.5 hour(s) Nick Brown Weekly advisors call 04/13/21 0.5 hour(s) Milad Sedeh Weekly advisors call 04/13/21 0.5 hour(s) Audrey Zhang Weekly advisors call 04/14/21 0.5 hour(s) Adam Waldman Review of FTI and Milbank materials for weekly UCC call 04/14/21 0.5 hour(s) Milad Sedeh Review of FTI and Milbank materials for weekly UCC call 04/14/21 0.5 hour(s) Taro Tan Review of FTI and Milbank materials for weekly UCC call 04/14/21 0.5 hour(s) Benjamin Wallace Review of FTI and Milbank materials for weekly UCC call 04/14/21 0.5 hour(s) Audrey Zhang Review of FTI and Milbank materials for weekly UCC call 04/14/21 0.5 hour(s) Nick Brown Weekly regulatory call 04/14/21 0.5 hour(s) Lawrence Chu Weekly regulatory call 04/14/21 2.0 hour(s) Benjamin Wallace Review of draft Debtors' financial statement filings 04/15/21 0.5 hour(s) Taro Tan Call with UCC and UCC advisors 04/15/21 0.5 hour(s) William Derrough Call with UCC and UCC advisors 04/15/21 0.5 hour(s) Nick Brown Call with UCC and UCC advisors 04/15/21 0.5 hour(s) Milad Sedeh Call with UCC and UCC advisors 04/15/21 0.5 hour(s) Lawrence Chu Call with UCC and UCC advisors 04/15/21 1.5 hour(s) Barak Klein Review of analysis 04/15/21 0.5 hour(s) Barak Klein Call with UCC and UCC advisors 04/15/21 0.5 hour(s) Audrey Zhang Call with UCC and UCC advisors 04/15/21 0.5 hour(s) Adam Waldman Call with UCC and UCC advisors 04/15/21 1.0 hour(s) Benjamin Wallace Review of FTI materials on SES scenarios 04/16/21 0.5 hour(s) Barak Klein Review of Debtors' exclusivity declaration 04/16/21 0.5 hour(s) Adam Waldman Review of Debtors' exclusivity declaration 04/16/21 0.5 hour(s) Milad Sedeh Review of Debtors' exclusivity declaration 04/16/21 0.5 hour(s) Taro Tan Review of Debtors' exclusivity declaration 04/16/21 0.5 hour(s) Audrey Zhang Review of Debtors' exclusivity declaration 04/19/21 2.0 hour(s) Taro Tan Prepare weekly UCC materials 04/19/21 2.0 hour(s) Audrey Zhang Prepare weekly UCC materials 04/19/21 1.0 hour(s) Benjamin Wallace Prepare weekly UCC materials 04/19/21 0.5 hour(s) Nick Brown Prepare weekly UCC materials 04/19/21 0.5 hour(s) Milad Sedeh Prepare weekly UCC materials 04/19/21 2.0 hour(s) Benjamin Wallace Review of FTI materials on SES scenarios 04/20/21 0.5 hour(s) Milad Sedeh Retention matters 04/20/21 0.5 hour(s) Taro Tan Retention matters 04/20/21 0.5 hour(s) Audrey Zhang Retention matters 04/20/21 0.5 hour(s) Adam Waldman Review of FTI and Milbank materials for weekly UCC call 04/20/21 0.5 hour(s) Milad Sedeh Review of FTI and Milbank materials for weekly UCC call 04/20/21 0.5 hour(s) Taro Tan Review of FTI and Milbank materials for weekly UCC call 04/20/21 0.5 hour(s) Benjamin Wallace Review of FTI and Milbank materials for weekly UCC call 04/20/21 0.5 hour(s) Audrey Zhang Review of FTI and Milbank materials for weekly UCC call Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 29 of 44
Intelsat - Committee of Unsecured Creditors Moelis & Company Summary of Hours Worked
DATE HOURS NAME DESCRIPTION
04/20/21 0.5 hour(s) Taro Tan Weekly advisors call 04/20/21 0.5 hour(s) William Derrough Weekly advisors call 04/20/21 0.5 hour(s) Barak Klein Weekly advisors call 04/20/21 0.5 hour(s) Adam Waldman Weekly advisors call 04/20/21 0.5 hour(s) Nick Brown Weekly advisors call 04/20/21 0.5 hour(s) Milad Sedeh Weekly advisors call 04/20/21 0.5 hour(s) Audrey Zhang Weekly advisors call 04/20/21 0.5 hour(s) Benjamin Wallace Weekly advisors call 04/21/21 0.5 hour(s) Taro Tan Call with UCC and UCC advisors 04/21/21 0.5 hour(s) William Derrough Call with UCC and UCC advisors 04/21/21 0.5 hour(s) Nick Brown Call with UCC and UCC advisors 04/21/21 0.5 hour(s) Milad Sedeh Call with UCC and UCC advisors 04/21/21 0.5 hour(s) Lawrence Chu Call with UCC and UCC advisors 04/21/21 0.5 hour(s) Barak Klein Call with UCC and UCC advisors 04/21/21 0.5 hour(s) Audrey Zhang Call with UCC and UCC advisors 04/21/21 0.5 hour(s) Adam Waldman Call with UCC and UCC advisors 04/21/21 0.5 hour(s) Benjamin Wallace Call with UCC and UCC advisors 04/21/21 0.5 hour(s) Nick Brown Weekly regulatory call 04/21/21 0.5 hour(s) Lawrence Chu Weekly regulatory call 04/21/21 1.0 hour(s) Benjamin Wallace Review of Milbank materials for weekly UCC call 04/21/21 1.0 hour(s) Taro Tan Review of Milbank materials for weekly UCC call 04/26/21 2.0 hour(s) Taro Tan Prepare weekly UCC materials 04/26/21 2.0 hour(s) Audrey Zhang Prepare weekly UCC materials 04/26/21 1.0 hour(s) Benjamin Wallace Prepare weekly UCC materials 04/26/21 0.5 hour(s) Nick Brown Prepare weekly UCC materials 04/26/21 0.5 hour(s) Milad Sedeh Prepare weekly UCC materials 04/26/21 3.0 hour(s) Benjamin Wallace Review of prior process materials 04/26/21 3.0 hour(s) Taro Tan Review of prior process materials 04/27/21 0.5 hour(s) Adam Waldman Review of FTI materials for weekly UCC call 04/27/21 0.5 hour(s) Milad Sedeh Review of FTI materials for weekly UCC call 04/27/21 0.5 hour(s) Taro Tan Review of FTI materials for weekly UCC call 04/27/21 0.5 hour(s) Benjamin Wallace Review of FTI materials for weekly UCC call 04/27/21 0.5 hour(s) Audrey Zhang Review of FTI materials for weekly UCC call 04/27/21 0.5 hour(s) Taro Tan Weekly advisors call 04/27/21 0.5 hour(s) William Derrough Weekly advisors call 04/27/21 0.5 hour(s) Barak Klein Weekly advisors call 04/27/21 0.5 hour(s) Adam Waldman Weekly advisors call 04/27/21 0.5 hour(s) Nick Brown Weekly advisors call 04/27/21 0.5 hour(s) Milad Sedeh Weekly advisors call 04/27/21 0.5 hour(s) Audrey Zhang Weekly advisors call 04/27/21 0.5 hour(s) Benjamin Wallace Weekly advisors call 04/28/21 0.5 hour(s) Taro Tan Call with UCC and UCC advisors 04/28/21 0.5 hour(s) William Derrough Call with UCC and UCC advisors 04/28/21 0.5 hour(s) Nick Brown Call with UCC and UCC advisors 04/28/21 0.5 hour(s) Milad Sedeh Call with UCC and UCC advisors 04/28/21 0.5 hour(s) Lawrence Chu Call with UCC and UCC advisors 04/28/21 0.5 hour(s) Barak Klein Call with UCC and UCC advisors 04/28/21 0.5 hour(s) Audrey Zhang Call with UCC and UCC advisors 04/28/21 0.5 hour(s) Adam Waldman Call with UCC and UCC advisors Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 30 of 44
Intelsat - Committee of Unsecured Creditors Moelis & Company Summary of Hours Worked
DATE HOURS NAME DESCRIPTION
04/28/21 0.5 hour(s) Benjamin Wallace Call with UCC and UCC advisors 04/28/21 2.0 hour(s) Benjamin Wallace Preparation of materials for mediation 04/28/21 1.0 hour(s) Taro Tan Preparation of materials for mediation 04/28/21 0.5 hour(s) Milad Sedeh Preparation of materials for mediation 04/28/21 0.5 hour(s) Audrey Zhang Preparation of materials for mediation 04/28/21 0.5 hour(s) Nick Brown Weekly regulatory call 04/28/21 0.5 hour(s) Lawrence Chu Weekly regulatory call 04/28/21 2.5 hour(s) Benjamin Wallace Review of term sheets and Debtors' exclusivity declaration 04/29/21 0.5 hour(s) Benjamin Wallace Preparation of materials for mediation 05/03/21 2.0 hour(s) Taro Tan Prepare weekly UCC materials 05/03/21 2.0 hour(s) Benjamin Wallace Prepare weekly UCC materials 05/03/21 0.5 hour(s) Nick Brown Prepare weekly UCC materials 05/03/21 0.5 hour(s) Milad Sedeh Prepare weekly UCC materials 05/04/21 0.5 hour(s) Adam Waldman Review FTI UCC materials 05/04/21 0.5 hour(s) Milad Sedeh Review FTI UCC materials 05/04/21 0.5 hour(s) Benjamin Wallace Review FTI UCC materials 05/04/21 0.5 hour(s) Audrey Zhang Review FTI UCC materials 05/04/21 0.5 hour(s) Taro Tan Review FTI UCC materials 05/04/21 0.5 hour(s) Taro Tan Weekly advisors call 05/04/21 0.5 hour(s) William Derrough Weekly advisors call 05/04/21 0.5 hour(s) Barak Klein Weekly advisors call 05/04/21 0.5 hour(s) Adam Waldman Weekly advisors call 05/04/21 0.5 hour(s) Nick Brown Weekly advisors call 05/04/21 0.5 hour(s) Milad Sedeh Weekly advisors call 05/04/21 0.5 hour(s) Audrey Zhang Weekly advisors call 05/04/21 0.5 hour(s) Benjamin Wallace Weekly advisors call 05/04/21 0.5 hour(s) Adam Waldman Retention matters 05/04/21 0.5 hour(s) Milad Sedeh Retention matters 05/04/21 0.5 hour(s) Audrey Zhang Retention matters 05/04/21 0.5 hour(s) Benjamin Wallace Retention matters 05/05/21 0.5 hour(s) Taro Tan Call with UCC and UCC advisors 05/05/21 0.5 hour(s) William Derrough Call with UCC and UCC advisors 05/05/21 0.5 hour(s) Nick Brown Call with UCC and UCC advisors 05/05/21 0.5 hour(s) Milad Sedeh Call with UCC and UCC advisors 05/05/21 0.5 hour(s) Lawrence Chu Call with UCC and UCC advisors 05/05/21 0.5 hour(s) Barak Klein Call with UCC and UCC advisors 05/05/21 0.5 hour(s) Audrey Zhang Call with UCC and UCC advisors 05/05/21 0.5 hour(s) Adam Waldman Call with UCC and UCC advisors 05/05/21 0.5 hour(s) Benjamin Wallace Call with UCC and UCC advisors 05/10/21 2.0 hour(s) Taro Tan Prepare weekly UCC materials 05/10/21 2.0 hour(s) Benjamin Wallace Prepare weekly UCC materials 05/10/21 0.5 hour(s) Nick Brown Prepare weekly UCC materials 05/10/21 0.5 hour(s) Milad Sedeh Prepare weekly UCC materials 05/10/21 5.0 hour(s) Benjamin Wallace Review of recovery model 05/10/21 5.0 hour(s) Taro Tan Review of recovery model 05/10/21 1.0 hour(s) Adam Waldman Internal team call 05/10/21 1.0 hour(s) Milad Sedeh Internal team call 05/10/21 1.0 hour(s) Benjamin Wallace Internal team call 05/10/21 1.0 hour(s) Audrey Zhang Internal team call Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 31 of 44
Intelsat - Committee of Unsecured Creditors Moelis & Company Summary of Hours Worked
DATE HOURS NAME DESCRIPTION
05/10/21 1.0 hour(s) Taro Tan Internal team call 05/10/21 0.5 hour(s) Taro Tan Weekly advisors call 05/11/21 0.5 hour(s) William Derrough Weekly advisors call 05/11/21 0.5 hour(s) Barak Klein Weekly advisors call 05/11/21 0.5 hour(s) Adam Waldman Weekly advisors call 05/11/21 0.5 hour(s) Nick Brown Weekly advisors call 05/11/21 0.5 hour(s) Milad Sedeh Weekly advisors call 05/11/21 0.5 hour(s) Audrey Zhang Weekly advisors call 05/11/21 0.5 hour(s) Benjamin Wallace Weekly advisors call 05/14/21 0.5 hour(s) Taro Tan Tax Call with Milbank 05/14/21 0.5 hour(s) William Derrough Tax Call with Milbank 05/14/21 0.5 hour(s) Nick Brown Tax Call with Milbank 05/14/21 0.5 hour(s) Milad Sedeh Tax Call with Milbank 05/14/21 0.5 hour(s) Lawrence Chu Tax Call with Milbank 05/14/21 0.5 hour(s) Barak Klein Tax Call with Milbank 05/14/21 0.5 hour(s) Audrey Zhang Tax Call with Milbank 05/14/21 0.5 hour(s) Adam Waldman Tax Call with Milbank 05/14/21 0.5 hour(s) Benjamin Wallace Tax Call with Milbank 05/14/21 0.5 hour(s) Adam Waldman Internal team call 05/14/21 0.5 hour(s) Milad Sedeh Internal team call 05/14/21 1.0 hour(s) Benjamin Wallace Internal team call 05/14/21 1.0 hour(s) Audrey Zhang Internal team call 05/14/21 1.0 hour(s) Taro Tan Internal team call 05/17/21 2.0 hour(s) Taro Tan Prepare weekly UCC materials 05/17/21 2.0 hour(s) Benjamin Wallace Prepare weekly UCC materials 05/17/21 0.5 hour(s) Nick Brown Prepare weekly UCC materials 05/17/21 0.5 hour(s) Milad Sedeh Prepare weekly UCC materials 05/18/21 1.0 hour(s) Milad Sedeh Review weekly UCC materials 05/18/21 1.0 hour(s) Benjamin Wallace Review weekly UCC materials 05/18/21 1.0 hour(s) Audrey Zhang Review weekly UCC materials 05/18/21 1.0 hour(s) Taro Tan Review weekly UCC materials 05/18/21 3.0 hour(s) Benjamin Wallace Review of prior process materials 05/18/21 3.0 hour(s) Taro Tan Review of prior process materials 05/18/21 0.5 hour(s) Milad Sedeh Internal team call 05/18/21 0.5 hour(s) Audrey Zhang Internal team call 05/18/21 0.5 hour(s) Benjamin Wallace Internal team call 05/18/21 0.5 hour(s) Taro Tan Internal team call 05/18/21 0.5 hour(s) Taro Tan Weekly advisors call 05/18/21 0.5 hour(s) William Derrough Weekly advisors call 05/18/21 0.5 hour(s) Barak Klein Weekly advisors call 05/18/21 0.5 hour(s) Adam Waldman Weekly advisors call 05/18/21 0.5 hour(s) Nick Brown Weekly advisors call 05/18/21 0.5 hour(s) Milad Sedeh Weekly advisors call 05/18/21 0.5 hour(s) Audrey Zhang Weekly advisors call 05/18/21 0.5 hour(s) Benjamin Wallace Weekly advisors call 05/18/21 1.0 hour(s) Adam Waldman Review FTI UCC materials 05/18/21 1.0 hour(s) Milad Sedeh Review FTI UCC materials 05/18/21 1.0 hour(s) Audrey Zhang Review FTI UCC materials 05/18/21 1.0 hour(s) Benjamin Wallace Review FTI UCC materials Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 32 of 44
Intelsat - Committee of Unsecured Creditors Moelis & Company Summary of Hours Worked
DATE HOURS NAME DESCRIPTION
05/18/21 1.0 hour(s) Taro Tan Review FTI UCC materials 05/19/21 0.5 hour(s) Taro Tan Call with UCC and UCC advisors 05/19/21 0.5 hour(s) William Derrough Call with UCC and UCC advisors 05/19/21 0.5 hour(s) Nick Brown Call with UCC and UCC advisors 05/19/21 0.5 hour(s) Milad Sedeh Call with UCC and UCC advisors 05/19/21 0.5 hour(s) Lawrence Chu Call with UCC and UCC advisors 05/19/21 0.5 hour(s) Barak Klein Call with UCC and UCC advisors 05/19/21 0.5 hour(s) Audrey Zhang Call with UCC and UCC advisors 05/19/21 0.5 hour(s) Adam Waldman Call with UCC and UCC advisors 05/19/21 0.5 hour(s) Benjamin Wallace Call with UCC and UCC advisors 05/24/21 0.5 hour(s) Adam Waldman Retention matters 05/24/21 0.5 hour(s) Milad Sedeh Retention matters 05/24/21 1.0 hour(s) Taro Tan Retention matters 05/24/21 1.0 hour(s) Audrey Zhang Retention matters 05/24/21 3.0 hour(s) Benjamin Wallace Review of prior process materials 05/24/21 3.0 hour(s) Taro Tan Review of prior process materials 05/24/21 2.0 hour(s) Taro Tan Prepare weekly UCC materials 05/24/21 2.0 hour(s) Benjamin Wallace Prepare weekly UCC materials 05/24/21 0.5 hour(s) Nick Brown Prepare weekly UCC materials 05/24/21 0.5 hour(s) Milad Sedeh Prepare weekly UCC materials 05/24/21 1.0 hour(s) Adam Waldman Review Reorg Research Model 05/24/21 1.0 hour(s) Milad Sedeh Review Reorg Research Model 05/24/21 1.5 hour(s) Benjamin Wallace Review Reorg Research Model 05/24/21 1.5 hour(s) Audrey Zhang Review Reorg Research Model 05/24/21 2.0 hour(s) Taro Tan Review Reorg Research Model Mar. Total 186.0 hour(s) Apr. Total 188.0 hour(s) May. Total 102.0 hour(s) Total 476.0 hour(s) Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 33 of 44
EXHIBIT C
SUMMARY EXPENSES DURING COMPENSATION PERIOD
Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 34 of 44
Intelsat S.A. Moelis & Company Summary of Expenses March 1, 2021 - May 31, 2021
Summary Description Amount ($) Legal Fees Legal Outside counsel legal fees $19,513.00
Total Expenses $19,513.00 Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 35 of 44
EXHIBIT D
ITEMIZED EXPENSES DURING COMPENSATION PERIOD
MARCH 2021
Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 36 of 44
Intelsat S.A. Moelis & Company Expense Detail March 1, 2021 - March 31, 2021
Date Professional Description Amount ($)
4/7/2021 Legal Outside counsel legal fees for March 2021 $7,437.00 Total $7,437.00 Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 37 of 44
APRIL 2021
Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 38 of 44
Intelsat S.A. Moelis & Company Expense Detail April 1, 2021 - April 30, 2021
Date Professional Description Amount ($)
5/11/2021 Legal Outside counsel legal fees for April 2021 $6,946.00 Total $6,946.00 Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 39 of 44
MAY 2021
Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 40 of 44
Intelsat S.A. Moelis & Company Expense Detail May 1, 2021 - May 31, 2021
Date Professional Description Amount ($)
6/8/2021 Legal Outside counsel legal fees for May 2021 $5,130.00 Total $5,130.00 Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 41 of 44
EXHIBIT E
LEGAL SERVICES INVOICES
Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 42 of 44 ATLANTA 90 PARK AVENUE BEIJING NEW YORK, NY 10016-1387 212-210-9400 BRUSSELS 212-210-9444 CHARLOTTE PLEASE SEND PAYMENT WITH REMITTANCE COPY DALLAS TO www.alston.com FORT WORTH Tax ID: 58-0137615 LONDON P.O. Box 933124 LOS ANGELES Atlanta, GA 31193-3124 NEW YORK RALEIGH SAN FRANCISCO SILICON VALLEY WASHINGTON, DC
Moelis & Company April 7, 2021 399 Park Avenue, 5th Floor Client: 060768 New York, NY 10022 Matter: 549431 Invoice #: 11204629 Stuart Rogers
INVOICE SUMMARY
Re: Intelsat
Services Billed: 7,437.00
Other Charges: 0.00
Invoice Total: 7,437.00 USD
US Tax Address: ELECTRONIC FUNDS TRANSFER INFORMATION
Alston & Bird LLP Bank Address: Wells Fargo Bank N.A., 171 17th Street, 7th Floor, Atlanta, Georgia One Atlantic Center 30363 1201 W. Peachtree Street For the Account Of: Alston & Bird LLP Atlanta, Georgia 30309-3424 ROUTING: ACH: 061000227 WIRE: 121000248 F.E.I # 58-0137615 Account #: 2000016952111 (404) 881-7000 Swift Code: WFBIUS6S PLEASE REFERENCE INVOICE NUMBER(S) ON WIRE
Remittance information can be e-mailed to [email protected]
Services or other charges, which either have not been received or processed, will appear on a later statement. Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 43 of 44 ATLANTA 90 PARK AVENUE BEIJING NEW YORK, NY 10016-1387 212-210-9400 BRUSSELS 212-210-9444 CHARLOTTE PLEASE SEND PAYMENT WITH REMITTANCE COPY DALLAS TO www.alston.com FORT WORTH Tax ID: 58-0137615 LONDON P.O. Box 933124 LOS ANGELES Atlanta, GA 31193-3124 NEW YORK RALEIGH SAN FRANCISCO SILICON VALLEY WASHINGTON, DC
Moelis & Company May 11, 2021 399 Park Avenue, 5th Floor Client: 060768 New York, NY 10022 Matter: 549431 Invoice #: 11213122 Stuart Rogers
INVOICE SUMMARY
Re: Intelsat
Services Billed: 6,946.00
Other Charges: 0.00
Invoice Total: 6,946.00 USD
US Tax Address: ELECTRONIC FUNDS TRANSFER INFORMATION
Alston & Bird LLP Bank Address: Wells Fargo Bank N.A., 171 17th Street, 7th Floor, Atlanta, Georgia One Atlantic Center 30363 1201 W. Peachtree Street For the Account Of: Alston & Bird LLP Atlanta, Georgia 30309-3424 ROUTING: ACH: 061000227 WIRE: 121000248 F.E.I # 58-0137615 Account #: 2000016952111 (404) 881-7000 Swift Code: WFBIUS6S PLEASE REFERENCE INVOICE NUMBER(S) ON WIRE
Remittance information can be e-mailed to [email protected]
Services or other charges, which either have not been received or processed, will appear on a later statement. Case 20-32299-KLP Doc 2529 Filed 07/30/21 Entered 07/30/21 16:38:31 Desc Main Document Page 44 of 44 ATLANTA 90 PARK AVENUE BEIJING NEW YORK, NY 10016-1387 212-210-9400 BRUSSELS 212-210-9444 CHARLOTTE PLEASE SEND PAYMENT WITH REMITTANCE COPY DALLAS TO www.alston.com FORT WORTH Tax ID: 58-0137615 LONDON P.O. Box 933124 LOS ANGELES Atlanta, GA 31193-3124 NEW YORK RALEIGH SAN FRANCISCO SILICON VALLEY WASHINGTON, DC
Moelis & Company June 8, 2021 399 Park Avenue, 5th Floor Client: 060768 New York, NY 10022 Matter: 549431 Invoice #: 11220856 Stuart Rogers
INVOICE SUMMARY
Re: Intelsat
Services Billed: 5,130.00
Other Charges: 0.00
Invoice Total: 5,130.00 USD
US Tax Address: ELECTRONIC FUNDS TRANSFER INFORMATION
Alston & Bird LLP Bank Address: Wells Fargo Bank N.A., 171 17th Street, 7th Floor, Atlanta, Georgia One Atlantic Center 30363 1201 W. Peachtree Street For the Account Of: Alston & Bird LLP Atlanta, Georgia 30309-3424 ROUTING: ACH: 061000227 WIRE: 121000248 F.E.I # 58-0137615 Account #: 2000016952111 (404) 881-7000 Swift Code: WFBIUS6S PLEASE REFERENCE INVOICE NUMBER(S) ON WIRE
Remittance information can be e-mailed to [email protected]
Services or other charges, which either have not been received or processed, will appear on a later statement.