Compensation of Professionals: Detailed Form of Application

(a) Content of Application. An application for compensation or reimbursement of expenses required by Fed. R. Bankr. P. 2016(a) shall include the following, unless the application is governed by L.B.R. 2016-3: (1) a description of the services performed that identifies each service separately in sufficient detail to allow evaluation of the benefit derived from the service, the date each service was performed, and the time expended for each service; -17- (2) the professional time expended shall be set forth either (A) by each professional or paraprofessional in chronological order, (B) by date, showing all professionals or paraprofessionals that expended time on each day, or (C) by categories of service set forth in subdivisions (d) and (f); and (3) a list by type of the expenses for which reimbursement is sought that includes for each type of expense either: (A) a statement that the amount of the expense is calculated using the applicant's actual in-house cost or the actual amount billed by a third party provider, or (B) an explanation of how the amount of the expense is calculated. (b) Additional Content in Interim Applications in Chapter 7 and Liquidating Chapter 11 Cases. An interim application for compensation and reimbursement of expenses in a chapter 7 case or a liquidating chapter 11 case also shall include a description of the history of case administration and the present status of the bankruptcy estate, including a summary of the assets that have been administered, the disbursements that have been made, and the amount of money presently in the bankruptcy estate.

(c) Additional Content in Certain Chapter 11 Cases. (l) Content of Application for Compensation or Reimbursement of Expenses. In a chapter 11 case, an application for compensation and reimbursement of expenses that covers a period for which a professional has received payment on account pursuant to L.B.R. 2016-5 shall include the following: (A) a list of the requests for payment on account that were filed during the period showing for each request whether: (i) any objections were filed, (ii) a hearing on the objection has been held or scheduled to be held, and (iii) the amount, if any, paid on account; (B) a tabulation that shows the difference, if any, between the amounts requested in each request for payment on account and the application for compensation and reimbursement filed under L.B.R. 2016-2; and (C) an explanation of any differences in the amounts requested. -18- (d) Form of Application. An application for compensation or reimbursement of expenses that conforms substantially to L.B.F. 2016-2 satisfies the requirements of subdivision (a).

(e) Categories of Service. An application for compensation that requests professional fees in excess of $75,000 shall set forth separately, to the extent applicable, the professional time expended under the following categories of service: (1) Asset Analysis and Recovery. Identification and review of potential assets including causes of action and non-litigation recoveries. (2) Asset Disposition.

Sales, leases (§ 365 matters), abandonment and related transaction work related to asset disposition. (3) Assumption and Rejection of Leases and Contracts. Analysis of leases and executory contracts and preparation of motions specifically to assume or reject. (4) Avoidance Action Analysis.

Review of potential avoiding actions under §§ 544–549 of the Code to determine whether adversary proceedings are warranted. (5) Budgeting (Case). Preparation, negotiation, and amendment to budgets for applicant’s fees. (6) Business Operations.

Issues related to debtor-in-possession operating in chapter 11 such as employee, vendor, tenant issues and other similar problems. (7) Case Administration. Coordination and compliance activities not specifically covered by another category. (8) Claims Administration and Objections.

Specific claim inquiries; bar date motions; analyses, objections and allowances of claims. (9) Corporate Governance and Board Matters. Preparation for and attendance at Board of Directors meetings; analysis and advice regarding corporate governance issues, including trustee, examiner, and CRO issues; review and preparation of corporate documents (e.g., articles and by-laws). (10) Employee Benefits and Pensions.

Review and preparation related to employee and retiree benefit issues, including compensation, bonuses, severance, insurance benefits, and 401K, pensions, or other retirement plans. (11) Employment and Fee Applications. Preparation of employment and fee applications for self or others; motions to establish interim procedures. (12) Employment and Fee Application Objections.

Review of and objections to the employment and fee applications of others. (13) Financing and Cash Collateral. Matters under §§ 361, 363 and 364 including cash collateral and secured claims; loan document analysis. -19- (14) Litigation. Contested matters and adversary proceedings (not otherwise within a specific project category), each identified separately.

(15) Meetings and Communications with Creditors. Preparation for and attendance at § 341(a) meeting and any other meetings with creditors and creditors' committees. (16) Non-Working Travel. (17) Plan and Disclosure Statement.

Formulation, presentation and confirmation; compliance with the plan confirmation order, related orders and rules; disbursement and case closing activities, except those related to the allowance and objections to allowance of claims. (18) Real Estate. Review and analysis of real estate-related matters, including purchase agreements and lease provisions (e.g., common area maintenance clauses). (19) Relief from Stay and Adequate Protection.

Matters relating to termination or continuation of automatic stay under § 362 and motions for adequate protection under § 361. (20) Reporting. Statement of financial affairs, schedules, monthly operating reports, and any other accounting or reporting activities; contacts with the United States Trustee not included in other categories. (21) Tax.

Analysis of tax issues and preparation of federal and state tax returns. (22) Valuation. Appraise or review appraisals of assets. (f) Additional Categories of Service.

An applicant may use additional categories of service that refer to a substantive aspect of the case. An applicant shall not use a category that refers only to a procedural task (e.g., “attend court hearings”). (g) Court Ordered Categories of Service. On its own motion or on the motion of a party in interest, the court may order that different categories be used for services performed after a date certain that is a reasonable period of time after the entry of the order.