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In re Tribeca Market, LLC

United States District Court, S.D. New York

September 2, 2014

In re TRIBECA MARKET, LLC, et al., Debtors

Page 255

For Pick & Zabicki, LLP, Appellant: Douglas J. Pick, Pick & Saffer LLP, New York, NY.

For G.M. Data Corp., Appellee: Avrum J. Rosen; Rodney Alan Brown, Brown & Whalen, P.C., New York, NY.

OPINION

Page 256

OPINION AND ORDER

KATHERINE POLK FAILLA, United States District Judge.

Appellant-Cross-Appellee Pick & Zabicki LLP (" Appellant" or " P& Z" ) appeals

Page 257

from an order (the " Fee Order" ) entered in the United States Bankruptcy Court for the Southern District of New York (Glenn, J.) awarding fees to P& Z for professional services rendered as counsel to the Official Committee of Unsecured Creditors (the " Creditors' Committee" or the " Committee" ) in In re Tribeca Market, LLC, Case No. 11-10737 (MG) (Bankr. S.D.N.Y.). In particular, the Bankruptcy Court reduced P& Z's fee application by 40 percent, after finding that P& Z had filed (and billed for) multiple court submissions on behalf of the Creditors' Committee without convening a single in-person or telephonic meeting of that Committee -- which, in the Court's estimation, raised " serious questions" about P& Z's representation of the Creditors' Committee. Appellee-Cross-Appellant G.M. Data Corp. (" Appellee" or " GMDC" ) cross-appeals, arguing that the Bankruptcy Court not only had the discretion to reduce P& Z's fees by 40 percent, but also could, and should, have reduced the fees even further, up to 100 percent.

This Court's review of the record makes plain that the Bankruptcy Court did not abuse its discretion in assessing the reduction. However, because of a minor arithmetic error, the Court will vacate the Bankruptcy Court's order and remand the matter for the limited purpose of correcting the error.

BACKGROUND[1]

A. Factual Background

1. The Bankruptcy Petitions

Tribeca Market, LLC (" Tribeca Market" ) was formed in January 2010 with the same members as a predecessor company, Potato Farms, LLC (" Potato Farms" ). (R. 7 at ΒΆ 3). Tribeca Market took over all of Potato Farms' operations, but the ...


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