Attorney or Party Name, Address, Telephone and Fax Number, and CA State B a r ~

Peter Susi, Esq.

0
FOR COURT USE ONLY
Michaelson, Susi & Michaelson
7 West Figueroa Street, 2nd Floor
Santa Barbara, CA 93101
( 805) 965-1011
Fax No.: (805) 965-7351
Bar No.: 62957
Attorney forThe Official Equity Committee
UNITED STATES BANKRUPTCY COURT
CENTRAL DISTRICT OF CALIFORNIA
In re: ESTATE FINANCIAL MORTGAGE FUND, LLC CHAPTER 11
CASE NUMBER 08-11535-RR
DATE: September 14, 2009
TIME: 2 : 0 0 p . m.
Debtor.
COURTROOM: 2 0 1
APPLICATION FOR PAYMENT OF:
uu INTERIM FEES AND/OR EXPENSES (11 U.S.C. 331)
D FINAL FEES AND/OR EXPENSES (11 U.S.C. 330)
1. Name of Applicant (specify): Michaelson, Susi & Michaelson
2. Type of Services Rendered:
a. ULl Attorney for (specify): The Official Equity Cornmi ttee
b. D Accountant for (specify):
c. D Other Professional (specify):
3. Date of Filing of Petition under Chapter "'""11"'---- of the Bankruptcy Code: July 1, 2 0 0 8
4. Date of Entry of Order Approving Applicant's Employment: September 2 5, 2 0 0 8
5. Date of Filing of last Fee and/or Expense Application: Apr i 1 2 2, 2 0 0 9
6. Total Fees allowed or paid to Applicant to Date (including Retainers and Prior Approved Fee Applications):
$ 173,433
a. Retainer received: $
b. Retainer remaining as of the date of this application: $
c. Total amount requested in all prior applications: $ 17 4, 8 2 3
d. Total amount actually paid pursuant to prior approved applications: $ 61, 4 92
e. Total amount currently due but unpaid pursuant to prior approved applications: $ 111, 9 4 2
f. Total amount allowed but reserved pending final fee application: $
(Continued on Next Page)
Rev. 5/98 This form is optional. It has been approved for use by the United States Bankruptcy Court for the Central District of California. F 2016-1.2
Fee/Expense Application -Page Two (2) F 2016-1.2
In re ESTATE FINANCIAL MORTGAGE FUND, LLC CHAPTER -"'-1-=.1__
Debtor. CASE NUMBER 0 8 -115 3 5-RR
7. Summary of Requested Fees: (Attach detailed supporting documentation to this Application)
Professional Person's Name Hourly Rate X Total Hours this Person = Total Fees this Person
a. Peter Susi $ 425 X 120 = $ 51,000
b.Peter Susi $ 475 X 50 = $ 23,750
c. Joseph Sholder $ 395 X 1 = $ 395
d.Jonathan Gura $ 340 X 22 = $ 7,480
e. $ X = $
f. $ X = $
g. D Continued on Attached Page
8. The hourly rates above are the same rates charged by the above professionals for non-bankruptcy services except as
follows: N I A D See Attached Page
9. Bonus requested (final fee applications only): $
(Attach Declaration and Memorandum of Points and Authorities justifying bonus)
10. TOTAL FEES REQUESTED THIS APPLICATION: $ 82, 625
11. Total Expenses paid toApplicantto Date (including Retainers and Prior Approved Expense Applications): $
12. Summary of Requested Expense Reimbursement: (Attach detailed supporting documentation to this Application)
Type of Expense
a. [SEE ATTACHED]
b.
c.
d.
e.
f.
g. D Continued on Attached Page
Reimbursement Requested this Application
$
$
$
$
$
13. TOTAL EXPENSE REIMBURSEMENT REQUESTED THIS APPLICATION: $ 829
14. Applicant submits the following in support of the Application herein pursuantto Local Bankruptcy Rule 2016-1 (specify):
Memorandum in Support of Second Application for Interim Camp etc.
15. Total Number of attached pages of supporting documentation: 62
16. Applicant declares under penalty of perjury under the laws of the United States of America that the foregoing
Application and all attached supporting documentation are true and correct and accurately reflect services rendered
and expenses incurred.
4-
17. Executed on the1.!.Lday of August , California.
MICHAELSON, SUSI & MICHAELSON
Type Name of Applicant
1 MICHAELSON, SUSI & MICHAELSON
(SPACE BELOW FOR FILING STAMP ONLY)
A Professional Corporation
2 ATTORNEYS AT LAW
SEVEN WEST FIGUEROA STREET, SECOND FLOOR
3 SANTA BARBARA, CALIFORNIA 93101-3191
Telephone: (805) 965-1011
4 Facsimile: (805) 965-7351
Peter Susi, Bar No. 62957
5
6 Attorneys for Official Equity Committee
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I
UNITED STATES BANKRUPTCY COURT
CENTRAL DISTRICT OF CALIFORNIA, NORTHERN DIVISION
In re
ESTATE FINANCIAL MORTGAGE
FUND, LLC,
Debtor.
)
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BK No. ND 08-11535-RR
Chapter 11
MEMORANDUM IN SUPPORT OF
SECOND APPLICATION FOR
INTERIM COMPENSATION BY
ATTORNEYS FOR OFFICIAL
COMMITTEE OF EQUITY INVESTORS
Date:
Time:
Place:
September 14, 2009
2:00 p.m.
1415 State Street
Courtroom 201
Santa Barbara, CA
TO THE HONORABLE ROBIN L. RIBLET, UNITED STATES BANKRUPTCY
JUDGE, BRADLEY SHARP, CHAPTER 11 TRUSTEE, THE DEBTOR, AND
PARTIES IN INTEREST:
Michaelson, Susi & Michaelson, Professional Corporation,
attorneys for the Official Equity Committee herein (hereafter
"MS&M") , seeks interim compensation for services rendered and
costs incurred in this case during the period from February 6,
2009, to July 31, 2009, as follows:
- 1 -
3
1 I. INTRODUCTION
2 MS&M has served as attorneys for the Official Committee of
3 Equity Investors (hereafter "the Committee'') established for
4 Estate Financial Mortgage Fund, LLC, (hereafter "the Fund")
5 since their employment by nunc pro tunc order of this Court
6 entered on September 25, .2008. A copy of the order approving
7 MS&M's employment is attached hereto as Exhibit "A" and
8 incorporated by reference herein. This is MS&M's second
9 application for interim compensation.
10 This case was commenced by the filing of a voluntary
11 Petition under Chapter 11 of the Bankruptcy Code on July 1,
12 2008. The filing followed an involuntary Chapter 11 petition
13 filed on June 25, 2008, against Estate Financial, Inc. ("EFI").
14 MS&M was selected as counsel to the Committee at its
15 initial meeting and has served in that capacity at all times
16 thereafter.
17 The Debtor is an investment fund which was operated by EFI
18 as its manager and administered investments made by
19 approximately 1,700 investors. All Fund investments were
20 placed in loans originated and serviced by EFI. The Fund has
21 very little if any outstanding debt. Accordingly, its equity
22 investors are the real parties in interest in this case.
23 M S ~ M hereby incorporates by reference the narrative
24 contained in the second interim fee applications of Bradley
25 Sharp and his counsel, Jeffer, Mangels, Butler & Marmara, LLP,
26 with respect to the administrative operations of the Debtor,
27 prospects for reorganization, funds on hand in the estate, and
28 the estimated amount of other accrued expenses of
- 2 -
4
1 administration as permitted by Local Bankruptcy
2 Rule 2016-1 (a) (v).
3
II. SERVICES PROVIDED TO THE COMMITTEE
4 Since its first application for interim fees, MS&M has
5 provided services to the Committee in connection with this
I
6 Chapter 11 case as follows:
7 A. COMMITTEE OPERATIONS
8
1. MS&M has prepared written Minutes of each
9 meeting of the Committee, which are posted on the page of the
10 Omni/Estate Financial website which is dedicated to investor
11 committee communications.
12
2. MS&M has prepared periodic Committee reports
13 to all investors addressing some of the important issues in
14 this case, which are posted on the website.
15
3. From time to time, MS&M has dealt with media
16 representatives seeking information regarding case background,
17 progress, and bankruptcy procedures.
18
4. MS&M has periodically met with Committee
19 members, the Trustees, and their counsel to discuss
20 administration of the two cases. In particular, MS&M has,
21 along with Mr. Gabriel, coordinated cooperative efforts b ~ t w e e n
22 the two Committees in these cases that have resulted in
23 efficient operation of the cases.
24
III. LEGAL ISSUES
25
A. MS&M has researched the legal issues which arise
26 in connection with distributions to investors from proceeds of
27 loan liquidation and property sales, and prepared a memo to the
28 Trustees and their attorneys setting forth an analysis of those
- 3 -
5
1 issues. MS&M has also attended meetings with the Trustees and
2 their attorneys to address a possible resolution of these
3 issues.
4 B. In conjunction with other counsel in the case,
5 MS&M negotiated an agreement for making distributions to
6 investors from property sales and loan collection proceeds
7 which resulted in a motion to the Court, subsequently approved,
8 for resolving many of the most difficult distribution issues in
9 these cases.
10
C. From time to time, MS&M has also assisted the
11 Committee in addressing such issues as:
12
13
(1) administration of certain problem loans, and
(2) possible estate litigation against
14 borrower/guarantors and other third parties, and
15
(3) investor efforts to terminate the pre-
16 petition servicing agreement with the estate.
IV. ADMINISTRATIVE MATTERS
17
18
A. From time to time MS&M talks with and responds to
19 e-mails from investors with questions regarding the bankruptcy
20 case and their investments.
21
B. MS&M prepares written materials for monthly
22 Committee meetings in San Luis Obispo.
23 C. MS&M assisted in the formation of a joint
24 subcommittee of the two Official Committees to consult with the
25 Trustees on specific property sales and loan collection
26 proposals, and helped to work out procedures for the
27 subcommittee's operations.
28
-4-
6
1 D. MS&M reviews Trustee property reports and deal
2 recommendations as they are submitted and comments as directed
3 by the Committee or as otherwise necessary.
4 E. MS&M periodically makes court appearances for
5 Trustees' counsel on routine matters in order to save the
6 estate the cost of transporting attorneys from the Los Angeles
7 area. MS&M also has provided assistance to the Trustees and
8 their counsel in getting papers filed or obtaining certified
9 copies of court orders needed on an urgent basis at no cost to
10 the estate.
11 V. CONCLUSION AND REQUEST FOR INTERIM COMPENSATION
12 During the period of MS&M's representation of the
13 Committee, normal hourly billing rates for each attorney who
14 rendered services to the estate are as set forth in the billing
15 attache8 hereto as Exhibit "B."
16 Attached hereto as Exhibit "C" is a brief description of
17 the professional education and experience of each of the
18 attorneys who have rendered services to this estate.
19 MS&M has not received any compensation for services
20 itemized in this application. MS&M previously requested fees
21 of $174,822.50 from the commencement of services on July 7,
22 2008, through February 5, 2009, and reimbursement of costs in
23 the amount of $2,257.50, for a total of fees and costs of
24 $177,080.00. The Court has previously awarded MS&M interim
25 fees of $173,433 and costs of $2,257.50.
26 Attached hereto as part of Exhibit "B" is an itemized
27 billing of all time and costs for which MS&M is seeking interim
28 compensation and reimbursement.
- 5 -
7
1 MS&M has reviewed the requirements of Local Bankruptcy
2 Rule 2016-1, and this application complies with the Rule.
3 WHEREFORE, MS&M prays that this Court enter its order
4 after notice to creditors:
5 1.
Approving as reasonable, pursuant to 11 U.S.C. 329,
6 MS&M's second request for interim fees in the amount of $82,456
7 and interim costs in the amount of $828.90.
8 2. Authorizing payment of amounts awarded at such time
9 as Trustee Sharp deems prudent.
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3. For all other proper orders.
DATED: August ~ 2009.
SUSI & MICHAELSON
Official Equity Committee
-6-
the
8
1
VERIFICATION
2 I ,am a member of Michaelson, Susi & Michaelson, a
3 Professional Corporation,. applicant herein. I have read the
4 foregoing application and certify that it is true and correct
5 to the best of my knowledge, information and belief.
6 In compliance with United States Trustee Guide to
7 Applications for Professional Compensation, Item II(A) (11) the
8 billings which have been submitted with this fee application
9 have also been presented to Equity Committee Chairman John
10 Lacey, together with a letter requesting that he notify me of
11 any objections the Committee may have to any of the requested
12 fees and costs. A copy of said letter is attached hereto.
13 I declare under penalty of perjury that the foregoing is
14 true and correct.
~
~ day of August, 2009, at Santa Barbara,
~
15 Executed this
16 California.
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- 7 -
9
PETER SUSI
FRANKLYN S. MICHAELSON
.JONATHAN G. GURA
MICHAELSON, SUSI & MICHAELSON
A PROFESSIONAL CORPORATION
ATTORNEYS AT LAW
TELEPHONE
(805) 965-1011
TELECOPIER
SEVEN WEST FIGUER.OA STREET, SECOND FLOOR
SANTA BARBARA, CALIFORNIA 93101-3191
(805) 965-7351
E-MAIL: MSM@MSMLAW.COM
John Lacey, Chairman
Official Equity Committee
652 W. Cromwell Avenue #103
Fresno, CA 93711-5715
Re: Interim Fee Application
Michaelson, Susi & Michaelson
Dear John:
August 13,2009
In compliance with United States Trustee Guide to Applications for Professional Compensation,
Item II(A)(11), I am sending you the second application for interim compensation to be filed by
Michaelson, Susi & Michaelson.
You should review the application carefully. Please sign a copy of this letter and return it to us
if you have no objection to our request.
A hearing on the application has been scheduled for September 14, 2009, at 2:00p.m. I would,
therefore, request that I have your response no later than September 1, 2009.
Sincerely,
PS:cn
Enclosure
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MICHAELSON, & CE BELOW FOR FILING STAMP ONLY)
A Professional Corpora!Jon
ATTORNEYSATLAW
SEVEN WEST FIGUEROA STREET, SECOND LOO SEP 2 5 2008
SANTA BARBARA, CALIFORNIA 93101-3 91
Telephone: (805) 965-1011
Facsimile: (805) 965-7351

'"'
Peter Susi, Bar No. 62957
. "'"""'.
Attorneys for Official Equity Committee . L llt:P 2 5 2008 / /
L ___ ;' ..... .J
UNITED STATES BANKRUPTCY COURT
CENTRAL DISTRICT OF CALIFORNIA, NORTHERN DIVISION
In re
) BK No. ND 08-11535-RR
)
ESTATE' FINANCIAL MORTGAGE
FUND, LLC,
) Chapter 11
)
AT SANTA
OF
Debtor.
)
) ORDER AUTHORIZING OFFICIAL
) EQUITY COMMITTEE TO EMPLOY
) COUNSEL NUNC PRO TUNC
)
)
)
) No Hearing
)
)
BARBARA, CALIFORNIA,
IN SAID DISTRICT, ON THE
___ , 2oo8.
The Official Equity Corrunittee (the "Corrunittee") herein
having filed its application for authority to employ counsel at
the expense of the estate, and notice thereof having been given
pursuant to Local Rule 2014-1 (b) (2), and no pleading having
been filed in opposition to the application, and it appearing
satisfactorily therefrom for the reasons shown therein that it
is necessary that the Committee employs counsel, and it further
appearing to the satisfaction of the undersigned that counsel
- I -
EXHIBIT" A " 11
\, '
1 represents no interest adverse to the Committee or the estate,
2 and it further appearing that the employment of Michaelson,
3 Susi & a Professional Corporation, would be in the
4 best interests of the estate and that this cause is one
5 justifying employment of counsel on a general retainer, it is,
6 ORDERED that the Committee be, and it is hereby,
7 authorized to employ Michaelson, Susi & Michaelson, A
8 Corporation, of Santa Barbara, California, at the
9 expense of the estate nunc pro tunc as of July 1, 2008, to
10 represent it in these proceedings, and it is further,
11
ORDERED that the allowance of all fees and costs is
12 subject to court approval after notice and a hearing.
13
14
UNITED STATES BANKRUPTCY JUDGE
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.- 2-
12
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J
1
DECLARATION OF SERVICE
2
[U.S. Bankruptcy Court, Central District, Local Rule 7004-1(b)
3
CHERYL NICCOLI, the undersigned, hereby declares:
4
Declarant is a citizen of the United and is employed
5 by the law firm of Michaelson, Susi & Michaelson, a Professional
Corporation, Seven West Figueroa Street, Santa Barbara, CA 93101.
6 Declarant is over the age of 18 years and is not a party to the
within action.
7
On the 24th day of September, 2008, at the direction of
8 PETER SUSI of said firm and a Member of the Bar of the United
States District Court for the Central District of California, I
9 served the:
10 ORDER AUTHORIZING OFFICIAL EQUITY COMMITTEE TO EMPLOY COUNSEL
NUNC PRO TUNC
11
12 on the interested parties in this matter by:
'
13 ( ) mailing, with postage thereon fully prepaid; ( ) personally
delivering; or ( ) sending via overnight a true copy
14 thereof to said party at his, her, or their known address; or (
sending via FAX transmission with confirmation of transmittal by
15 Transmit Confirmation Report and follow-up telephone call to the
individuals at the addresses and FAX numbers listed below; ( )
16 sending via e-mail, and retaining a copy of the e-mail confirming
the date and time the e-mail was sent, to the individuals at the
17 e-mail addresses listed below; or (X) sending electronically via
ECF with confirmation via receipt/notice from ECF, a true copy
18 thereof, to wit:
19 Office of the U.S. Trustee
21051 Warner Center Lane, Suite 115
20 Woodland Hills, CA 91367
{Electronic Notice via ECF)
21
22
23
24
I declare under penalty of perjury that the foregoing is
25 true and correct.
26 Executed at Santa Barbara, California, on the 24th day of
September, 2008.
27
28
, //]A J /}

-j NOTE TO USERS OF THIS FORM: I
Physically attach this form as the last page of the proposed Order or Judgment.
Do not file this form as a separate document.
In re
CHAPTER -=.1-=.1 ___ _
ESTATE FINANCIAL MORTGAGE FUND, LLC
Debtor. CASE NUMBER: N D 0 8 -115 3 5-RR
NOTICE OF ENTRY OF JUDGMENT OR ORDER
AND CERTIFICATE OF MAILING
TO ALL PARTIES IN INTEREST ON THE ATTACHED SERVICE LIST:
1. You are hereby notified, pursuant to Local Bankruptcy Rule 9021-1 (a)(1 )(E), that a judgment or order entitled
(specify):
ORDER AUTHORIZING OFFICIAL EQUITY COMMITTEE ~ 0 EMPLOY COUNSEL NUNC PRO TUNC
was entered on (specify date):
SEP 2 5 2008
2. I hereby certify that I mailed a copy of this notice and a true copy of the order or judgment to the persons and
entities on the attached service list on (specify date): [Due to length of service list, the attorney for
the Official Equity Committee will serve the entered order on interested parties]
SEP 2 5 2008
Dated: JON D. CERETTO
SEP 2 5 2008
Clerk o ~ the Bankruptcy Court
By: _...!.._f:;_frlV)_fW_J_--G _____ _
Deputy Clerk
Rev. 1101 This form Is optional. It has been <\Pproved for use by the United States Bankruptcy Court for the Central District of California. F 9021141
Office ofthe U.S. Trustee
21 051 Warner Center Lane, Suite 115
Woodland Hills, CA 91367
(Electronic Notice via ECF)
Attorneys for Official Equity Committee
Peter Susi, Esq.
Michaelson, Susi & Michaelson
7 West Figueroa Street, 2nd Floor
Santa Barbara, CA 93101
15
MICHAELSON, SUSI & MICHAELSON
A PROFESSIONAL CORPORATION
PETER SUSI
FRANKLYN S. MICHAELSON
ATTORNEYS AT LAW
..JONATHAN G. GURA
SEVEN WEST FIGUEROA STREET, SECOND FLOOR
SANTA BARBARA, CALIFORNIA 93101-3191
August 12, 2009
Estate Financial Mortgage Fund, LLC
c/o John Lacey, Chairman
PO Box 9
Paso Robles, CA 93447
STATEMENT
Attorneys' services for February 6, 2009
though July 31, 2009
119.7 hours at $425/hour (PS) = $50,872.50
50.4 hours at $475/hour (PS) = $23,940.00
. 5 hours at $395/hour (JS) = $ 197.50
21.9 hours at $340/hour (JG) = $
7,446.00
1.7 hours at No Charge = 0.00
$82,456.00
Total fees
Costs incurred from February 6, 2009
through J ~ l y 31, 2009
Certified Copies $ 50.80
Certification 30.00
Conference Call 70.64
Fax
2.50
FedEx 30.27
Filing fee 28.90
Pacer 8.72
Photocopies 461.50
Postage 94.48
Telephone 7.86
West law 43.23
$ 828.90
Total costs
Total fees and costs
BALANCE DUE
EXHIBIT " B "
TELEPHONE
(805) 965-1011
TELECOPIER
(805) 965-7351
E-MAIL: MSM@MSMLAW.COM
194.2 hours
$82,456.00
82 8. 9 0
83,284.90
$83,284.90
16
MICHAELSON, SUS/ & MICHAELSON
A Professional Cmporation
Seven West Figueroa, 2nd Floor
Santa Barbara, California 931 OJ
(805) 965-1011
August 12, 2009
Equity Security Holders Committee of
Estate Financial Mortgage Fund, LLC
c/o John Lacey, Chairman
PO Box 9
Paso Robles CA 93447
Invoice #21997
Services throughJuly 31, 2009
ASSET DISPO.
4/16/2009 PS-P
5/21/2009 PS-P
6/19/2009 PS-P
5/18/2009 PS-P
Conference call with
subcommittee members and
Larry Gabriel
Telephone conference with
Gabriel and email to
Jeremias sen
Review revised sales
procedures letter and email
from Gabriel and respond
Conference call with
trustees and their
attorneys about real estate
sales procedures
SUBTOTAL:
BUSINESS OPER.
4/16/2009 JG Review Omni website where
database of investor
interest are posted
Hours Amount
1. 00 425.00
0.60 285.00
0.30 142.50
0.60 285.00
2.50 1,137.50]
0.40 NO CHARGE
17
Equity Security Holders Committee of
SUBTOTAL:
CASE ADMIN.
4/13/2009 JG
JG
4/8/2009 JG
5/12/2009 JG
4/14/2009 JG
4/22/2009 JG
Conference call with
Gabriel and Susi about
letter to trustees about
operations of subcommittee
and hiring real estate
expert
Office conference with
Peter Susi re letter to
trustee and website
Joint committee meeting in
San Luis Obispo and prepare
(2.5) i subsequent meeting
with Frederickson and
Juhnke to go over options
for proceeding against Guth
and Applebaum and
conference call with Maizel
re same (1.0) i travel to
and from meeting (3.0)
Review notes on. Committee
meeting (.4) i telephone
conference with L. Gabriel
re status of the case and
last Committee meeting (.4)
Review joinder to Goodell's
relief from stay motion
(.4) i review and analyze
order in Cedar Funding case
(.6) i review and analyze
Cagliero objection to
settlement order (.7)
Meeting with other
attorneys in case to
prepare presentation to
court on settlement
agreement and court
appearance re same (3.0) i
follow-up meeting to go
Page
2
Hours Amount
0.40 0. 0 0]
0.70 NO CHARGE
0. 20 NO CHARGE
6.50 NO CHARGE
0.80 272.00
1. 70 578.00
4.00 NO CHARGE
18
Equity Security Holders Committee of
4/13/2009 JG
JG
5/18/2009 JG
5/21/2009 JG
6/24/2009 JG
6/26/2009 JG
6/29/2009 JG
over improvements to web
site and real estate sales
procedures and employment
of professionals (1.0)
Review letter to estates'
attorneys re Committee
concerns (.3); prepare
correspondence to Peter
Susi with comments on
letter to Trustees (.2);
review objection of
Cagliero to settlement
parameters (.3); conference
call with Peter Susi and L.
Gabriel re letter to
Trustees (. 8)
Review and revise Peter
Susi declaration re
Committee conflict
Review letter from L.
Gabriel regarding real
estate sales procedure
(.3); conference call with
Trustee and Trustee
attorneys (.4); prepare
minutes from May committee
meeting (1.2)
Telephone conference with
Larry Gabriel
Telephone conference with
investor Robert Clark (3)
(1.2); review pleadings in
case (.9); prepare letter
to investors (.6); prepare
correspondence to Larry
Gabriel (. 3)
Telephone conference with
investor
Review correspondence from
committee members on sales
procedure (.3); finalize
Page 3
Hours Amount
1.60 544.00
0.30 102.00
1. 90 646.00
0.30 102.00
3.00 1,020.00
0.30 102.00
0.80 272.00
19
Equity Security Holders Committee of
6/30/2009 JG
7/1/2009 JG
6/5/2009 JG
5/20/2009 JG
7/7/2009 JG
4/13/2009 PS-P
5/14/2009 PS-P
PS-P
5/13/2009 PS-P
PS-P
4/13/2009 PS-P
letter to investors (.3);
review email correspondence
from L. Gabriel regarding
Foley Gannon motion (.2);
Read correspondence from B.
Engelhardt
Telephone conference with
Mike Jordan regarding asset
purchase
Telephone conference with
Larry Gabriel
Finalize minutes from
committee meeting (.2);
review email from Larry
Gabriel concerning letter
to trustee (.2); review
letter to trustees from
Larry Gabriel (.2)
Review correspondence
regarding procedures for
investors to credit bid
Telephone conference with
Coffman and Barber, fund
investors
Emails from Adams and Lacey
and respond and telephone
conference with Lacey
Email from Adams and respond.
Email from Adams
Receive and review emails
from Gabriel and Maizel
about broker issues
Conference call with
Gabriel and Gura about
letter to trustees about
operations of subcommittee
Page
4
Hours Amount
0.20 68.00
0.30 102.00
0.20 68.00
0.60 204.00
0.20 68.00
0.30 127.50
0.30 142.50
0.20 95.00
0.10 47.50
0.30 142.50
0.70 297.50
20
Equity Security Holders Committee of
4/13/2009 PS-P
PS-P
5/14/2009 PS-P
4/14/2009 PS-P
5/13/2009 PS-P
5/12/2009 PS-P
PS-P
5/11/2009 PS-P
PS-P
PS-P
and hiring real estate
expert
Review revised Gabriel
draft of trustee letter
Telephone conference with
Wheeler about subcommittee
business
Receive and review emails
from Adams and telephone
conference with Gabriel
Receive and review Maizel
proposed omnibus response
to settlement objections
and prepare proposed
changes and send
Receive and review emails
from Sorenson and two
motions, declarations, etc.
relating to property sales
and loan dispositions
Telephone conference with
Gabriel
Telephone conference with
John Lacey about next
meeting
Go over results of last
committee meeting and
prepare action list for
next week
Email from Adams about fees
and respond to him and to
all committee members
Review several emails
regarding Rambuski client
terminating servicing
agreement on 100% owned loan
Page
5
Hours Amount
0.20 85.00
0.20 85.00
0.30 142.50
0.50 212.50
0.40 190.00
0.50 237.50
0.20 95.00
0.50 237.50
0.40 190.00
0.20 95.00
21
Equity Security Holders Committee of
5/1/2009 PS-P
PS-P
5/15/2009 PS-P
4/13/2009 PS-P
PS-P
PS-P
PS-P
5/18/2009 PS-P
PS-P
Receive and review Sokol
and Gabriel edits to
investor letter
Letter to Sharp about
insurance
Receive and review notice
of fee hearing and deadline
for filing and calendar
Telephone conference with
William Adams and telephone
conference with Madsen
about hiring expert
Review motion to sell Hemet
property and proposed
distribution
Receive and review email
from Wheeler and respond
(.2) i telephone conference
with Lacey (.2) i telephone
conference with
Frederickson (.1) i receive
and review Gabriel proposed
letter to trustees laying
out subcommittee procedures
and respond with suggested
changes (.4) i telephone
conference with Gabriel and
Sokol re same
Dffice conference with Jon
Gura re letter to trustee
and website
Email to Sharp and Geher
and response
Receive and review
trustees' May 5 report to
all investors and Gabriel
redraft of proposed
agreement with trustees on
sales procedures
Page
6
Hours Amount
0.20 95.00
0.20 95.00
0.20 95.00
0.40 170.00
0.20 85.00
1.30 552.50
0.20 85.00
0.20 95.00
0.40 190.00
22
Equity Security Holders Committee of
4/12/2009 PS-P
5/18/2009 PS-P
PS-P
PS-P
4/12/2009 PS-P
5/19/2009 PS-P
5/21/2009 PS-P
4/11/2009 PS-P
4/23/2009 PS-P
4/15/2009 PS-P
Prepare minutes of April 7
committee meeting and
letter to Trustees
requesting specific
information and postings on
websites
Telephone conference with
Frederickson about claims
by the estate (.3) and
brief research on lender
liability issues (.5)
Email to Frederickson with
cases on deepening
insolvency and pari delicto
Telephone conference with
William Adam; emails to
Lacey
Email to Gabriel about
committees employing real
estate advisor
Telephone conference with
EFI investor
Telephone conference with
Robin Sokol
Telephone conference with
Brad Sharp to go over
possible solutions to
subcommittee issues
Receive and review emails
from Gabriel and from
Sorenson about new web site
and telephone conference
with investor re same
Email from Lavelle and
respond
Page
7
Hours Amount
1.00 425.00
0.80 380.00
0.40 190.00
0.30 142.50
0.20 85.00
0.20 95.00
0.20 95.00
0.30 127.50
0.40 170.00
0.20 85.00
23
Equity Security Holders Committee of
4/21/2009 PS-P
4/16/2009 PS-P
4/1.5/2009 PS-P
4/16/2009 PS-P
4/14/2009 PS-P
4/15/2009 PS-P
4/17/2009 PS-P
4/18/2009 PS-P
4/20/2009 PS-P
Receive and review
Goodell's Foley Gannon
pleadings
Multiple emails from
subcommittee members and
Gabriel about proposal to
trustees and telephone
conference with Gabriel re
same; email to Trustees
Telephone conference with
Steinbeck about his fund
investment
Review Gabriel revised
draft of letter to trustees
and respond
Telephone conference with
Gabriel about finalizing
letter to trustees
Review Shultheis comments
to our draft procedures
letter to the trustees and
Gabriel letter and respond
Receive and review final
version of Gabriel's
trustee letter (.1);
telephone conference with
Hilde Minkel, retirement
plan administrator about
several retirement accounts
and review her letter and
info (.3)
Receive and review Trustee
package on Spate home in
Fresno and send trustee
list of questions re
proposed transaction
Review pleadings filed by
trustees' counsel,
including omnibus reply to
objections to proposed
Page
8
Hours Amount
0.20 85.00
0.60 255.00
0.10 42.50
0.20 85.00
0.20 85.00
0.40 170.00
0.40 170.00
0.40 170.00
0.50 212.50
24
Equity Security Holders Committee of
4/20/2009 PS-P
PS-P
PS-P
4/14/2009 PS-P
4/20/2009 PS-P
4/21/2009 PS-P
settlement between estates,
and trustees' motions to
accept short pay on loans
B184-05 and B639-05i loans
B190-05 and B645-05i sale
of 230 S Second St.,
Shandon and 130 Creek View
Court, Olympic Valley, with
supporting declarations and
notices
Review Dean letter and
back-up from investor and
email to Sharp requesting
explanation
Receive and review email
from Sorenson about Spate
deal
Telephone conference with
Ed Rambuski and review his
opposition to settlement
motion
Receive and review Wheeler
email and respond
Receive and review email
from Paul Ready with
detailed analysis of
perceived problems with
settlement motion and
respond point by point and
email to Maizel and Poitras
re issues raised
Series of emails back and
forth with Maizel, Orgel,
Geher, and Jeremiassen
discussing application of
settlement terms to various
hypothetical situations and
email to Paul ready about
some of the outcomes in
preparation for s e ~ t l e m e n t
hearing tomorrow
Page
9
Hours Amount
0.30 127.50
0.10 42.50
0.50 212.50
0.20 85.00
1.00 425.00
1.10 467.50
25'
Equity Security Holders Committee of
4/21/2009 PS-P
5/1/2009 PS-P
4/22/2009 PS-P
PS-P
4/23/2009 PS-P
PS-P
4/14/2009 PS-P
PS-P
4/24/2009 PS-P
Multiple emails about
hearings tomorrow with
attorneys and trustees
Conference call with Sharp
about committee meeting
Prepare for hearing on
settlement approval and
other
Meeting with other
attorneys in case to
prepare presentation to
court on settlement
agreement and court
appearance re same (3.0) i
follow-up meeting to go
over improvements to web
site and real estate sales
procedures and employment
of professionals (1.0)
Receive and review proposed
order approving settlement
and email to Maizel with
changes
Emails from trustees,
attorneys, and Gabriel
about report to investors
and respond
Receive and review revised
Maizel draft response to
settlement objections
Receive and review Cedar
Funding decision by Judge
Morgan and email to Paul
Ready
Work on report to all
committee members and
recommendations for future
actions and review new
property website created by
Page 10
Hours Amount
0.40 170.00
0.50 237.50
0.40 170.00
4.00 1,700.00
0.30 127.50
0.30 127.50
0.20 85.00
0.50 212.50
1. 50 637.50
26
Equity Security Holders Committee of
4/14/2009 PS-P
4/24/2009 PS-P
PS-P
4/25/2009 PS-P
4/28/2009 PS-P
4/29/2009 PS-P
5/1/2009 PS-P
PS-P
PS-P
trustees and emails from
Gabriel and Sorenson
Receive and review Gabriel
draft response to Goodell
motion, declarations, and
supporting
Telephone conference with
investor about various
Revise memo to committee
members and email to Larry
G.
Prepare agenda for May 5
meeting
Receive and review revised
order on settlement motion
Emails from Goodell,
Jeremiassen and Gabriel and
office conference with Jon
Gura about meeting next week
Review and revise proposed
letter to all investors and
prepare email to committee
members with agenda,
minutes and draft letter
for consideration at next
committee meeting; meet
with Jon Gura to plan for
the meeting and email to
Larry Gabriel re same
Receive and review trustee
motion re Thompson
settlement
Conference call with
Gabriel and Jon Gura to go
over issues for next meeting
Page 11
Hours Amount
0.30 127.50
0.30 127.50
0.60 255.00
0.40 170.00
0.10 42.50
1. 00 425.00
1.40 665.00
0.10 47.50
0.40 190.00
27
Equity Security Holders Committee of
4/11/2009 PS-P
6/30/2009 PS-P
7/7/2009 PS-P
7/6/2009 PS-P
7/7/2009 PS-P
7/6/2009 PS-P
7/1/2009 PS-P
Telephone conference with
Gabriel about real estate
sales procedures and
subcommittee requirements
Email from Kandel about
Foley Gannon
Committee conference call
with joint committees and
compile minutes; email to
Steinbeck about next meeting
Review Trustee's Ex Parte
Motion to Enter into Stip
with Mitch Brown Constr.
(.1); Notice of Hearing Re
Foley Gannon Stip (.1);
Reply to Foley Gannon
Objection to Stay Relief
(.2); Opposition to Foley
Motion to Sell Hine Ave
Prop (.2): Proposed Order
re Alvand Constuction Stip
(. 1) :
Receive and review email
from Bell about meeting and
respond and telephone
conference with Gabriel to
go over program for
conference call this
afternoon
Prepare for conference call
with committee (.5);
telephone conference with
Roger Frederickson about
estate claims and pending
litigation and
recommendations to trustees
(. 5)
Email from Barbara
Engelhardt and respond
Page
12
Hours Amount
0.50 212.50
0.10 47.50
2.00 950.00
I
0.70 332.50
0.60 285.00
1.00 475.00
0.30 142.50
28
Equity Security Holders Committee of
7/1/2009 PS-P
6/30/2009 PS-P
PS-P
PS-P
7/8/2009 PS-P
6/29/2009 PS-P
PS-P
6/28/2009 PS-P
6/27/2009 PS-P
6/26/2009 PS-P
Email to members
Compile information and
prepare email to all
committee members about
next meeting
Telephone conference with
Zwang
Multiple emails regarding
calendar events and
Gardality motion
Conference call with
counsel about investor
motion to terminate
servicing agreements on
July 17
Multiple emails on Foley
Gannon sale and respond
Email from Roger F. about
upcoming meeting and respond
Receive and review email
from Shultheis about sales
procedures and review four
trustee applications to
sell properties, distribute
proceeds, etc; email to
Jeremiassen about gap
procedures while judge is
gone
Receive and review emails
from Gabriel and respond
and prepare agenda for July
7 meeting
Telephone conference with
Lacey
Page I 13
Hours Amount
0.40 190.00
0.70 332.50
0.20 95.00
0.20 95.00
0.50 23'7. 50
0.20 95.00
0.20 95.00
0.70 332.50
0.50 237.50
0.20 95.00
29
Equity Security Holders Committee of
6/26/2009 PS-P
6/25/2009 PS-P
PS-P
6/24/2009 PS-P
6/19/2009 PS-P
7/17/2009 PS-P
7/29/2009 PS-P
PS-P
7/24/2009 PS-P
7/23/2009 PS-P
7/21/2009 PS-P
PS-P
Review emails from
Sorensson and Jeremiassen
about foreclosures,
property sales and listings
Multiple emails from
Jeremiassen and Sorenson
Email to Gabriel about
agenda, etc. for next
meeting and review response
Email from investor and
answer his inquiry
Telephone conference with
Mackle about Alvand deal
Court appearance re
multiple matters (July
stacking date) and brief
meeting with counsel
Emails to and from Mackle
re upcoming hearing
Receive and review multiple
emails from Kandel/Gabriel
about upcoming hearings
Receive and review report
on criminal prosecution
Receive and review emails
regarding listing Three
Bells property (.1) i
additional sale and
compromise orders
Finalize email to all
committee members about
next meeting
Email from Roger about
trustee recommendations and
respond
Page
14
Hours Amount
0.30 142.50
0.20 95.00
0.30 142.50
0.20 95.00
0.20 95.00
1. 50 712.50
0.20 95.00
0.20 9?.00
0.10 47.50
0.20 95.00
0.30 142.50
0.10 47.50
30
Equity Security Holders Committee of
7/20/2009 PS-P
7/18/2009 PS-P
7/8/2009 PS-P
7/15/2009 PS-P
7/14/2009 PS-P
7/13/2009 PS-P
ps-P
7/10/2009 PS-P
PS-P
PS-P
Email from Gabriel about
next meeting agenda and
respond and prepare agenda
for meeting and email to
all members (1.0); email to
Roger F. about trustee
claim recommendations
Review report on latest
Guth/Yaguda hearing
Review mulitiple emails
relating to Three Bells
Winery/ Kimball motion and
estate website
Review and respond to a
number of emails from
Kandel and Gabriel about
hearings on Friday
Review trustee's status
report to court for 7/17
hearing
Emails from Kandel and
Mackel and respond
Conference call with
Gabriel and Kandel about
hearings on 7/15
Receive and review
additional emails from Bell
and Sorenson
Receive and review Gabriel
proposed joinder in trustee
opposition to Kimball and
respond to Gabriel
Receive and review Kimball
reply and provide trustee
with my opinion on next
steps
Page
15
Hours Amount
1.20 570.00
0.10 47.50
0.20 95.00
0.30 142.50
0.20 95.00
0.20 95.00
0.30 142.50
0.10 47.50
0.30 142.50
0.30 142.50
31
Equity Security Holders Committee of
7/10/2009 PS-P
7/9/2009 PS-P
5/21/2009 PS-P
5/29/2009 PS-P
6/6/2009 PS-P
6/5/2009 PS-P
6/4/2009 PS-P
PS-P
6/3/2009 PS-P
6/2/2009 PS-P
Review Trustee opposition
to Kimball motion to
terminate servicing
agreements and Armstrong
declaration in support (.2)
; notice of settlement on
5335 West Donner Ave
property ( . 1)
Receive and review email
from Sherri Bell about
sales procedures and email
to Sorenson
Receive and revise draft
minutes of May 5 meeting
and email from Wheeler
Prepare agenda for next
committee meeting and email
to members; email to and
from Frederickson and
Gabriel about meeting
Revise minutes of last
meeting
Prepare minutes of June 2
meeting
Email to Jeremiassen about
real estate issues
Review Faucher email and
stip re Foley;
Receive and review email
from Maizel and proposed
stip with Foley Gannon and
respond
Travel to SLO and attend
joint committee meeting and
earlier meeting with
Frederickson and Gabriel
Page 16
Hours Amount
0.30 142.50
0.30 142.50
0.30 142.50
0.80 380.00
0.20 95.00
0.50 237.50
0.30 142.50
0.10 47.50
0.30 142.50
6.50 31 087.50
32
Equity Security Holders Committee of
6/1/2009 PS-P
PS-P
5/31/2009 PS-P
6/6/2009 PS-P
5/29/2009 PS-P
5/28/2009 PS-P
PS-P
5/27/2009 PS-P
Revise transmittal to
members and agenda and
minutes
Telephone conference with
Maizel about Foley Gannon
stip
Prepare for June 2
committee meeting and
transmittal package of
info/memoranda/minutes/agend
a to committee members
(.7); review Foley Gannon
proposed stip (.2); review
Sinsheimer memo re estate
claims and causes of action
(. 5)
Review trustees
1
joint
status report on
administration of the
estate for June 11 hearing
and forward with email to
committee members
Multiple emails with
Jeremiassen and Gabriel
about Friedman and sale
procedures
Review declaration and
other supporting documents
for Friedman employment and
email to Larry
Receive and review email
from Tom J. and email from
Sorenson and respond
Telephone conference with
Gabriel about various
issues for next meeting and
conference call with Tom J.
and his attorneys
Page
17
Hours Amount
0.50 237.50
0.20 95.00
1.40 665.00
0.80 380.00
0.40 190.00
0.40 190.00
0.50 237.50
0.40 190.00
'33
Equity Security Holders Committee of
5/27/2009 PS-P
5/26/2009 PS-P
5/25/2009 PS-P
5/23/2009 PS-P
5/22/2009 PS-P
6/19/2009 PS-P
6/13/2009 PS-P
6/18/2009 PS-P
6/17/2009 PS-P
6/16/2009 PS-P
PS-P
6/14/2009 PS-P
PS-P
Emails from Maizel and
Gabriel
Emails to Maizel and the
trustees and his response
regarding Friedman
employment
Email from Shultheis and
from investor and respond
Review various pleadings,
sale motions, orders and
notices filed by trustees
Telephone conference with
investor
Email from Mackle with
Alvand deal and respond
Review Mitch Brown final
stip
Receive and review
trustees' motions re Brown
Construction and Foley
Gannon settlements (.2) and
Heritage assignment
recissions
Emails from Maizel and
investor
Receive and review email
from Maizel with proposed
Alvand deal and respond
Review Sorenson listing of
properties for sale
Email to Gabriel with list
of items for next meeting
and to do list
Email from Gabriel and
respond
Page
18
Hours Amount
0.30 142.50
0.40 190.00
0.30 142.50
0.40 190.00
0.20 95.00
0.20 95.00
0.10 47.50
0.30 142.50
0.20 95.00
0.30 142.50
0.10 47.50
0.40 190.00
0.20 95.00
34
Equity Security Holders Committee of
6/13/2009 PS-P
PS-P
6/6/2009 PS-P
6/13/2009 PS-P
PS-P
6/11/2009 PS-P
PS-P
6/10/2009 PS-P
PS-P
6/9/2009 PS-P
6/8/2009 PS-P
6/7/2009 PS-P
Email from Wheeler and
email to Gabriel
Telephone conference with
Adams about real estate
procedures (.3); email to
Wheeler re same (.3)
Email to all members about
committee expenses laying
out procedure and relevant
dates, status report
Receive and review info
from committee members
Review multiple emails from
attorneys and trustees
regarding possible sale of
Hines Ave and stay
litigation
Court appearance re monthly
status and all pending
litigated matters
Briefly review proposed
settlement with Brown
Construction and motion for
approval
Email from Shulthies and
from Geher and Maizel
Telephone conference with
Gabriel about status report
to court
Telephone conference with
Ridgeway at Marcus &
Milichapp
Emails from investor Forest
and Maizel and respond
Review Ohio District Court
decision re Ponzi scheme
remedies against lenders
Page
19
Hours Amount
0.20 95.00
0.60 285.00
0.50 237.50
0.10 47.50
0.20 95.00
1. 50 712.50
0.30 142.50
0.30 142.50
0.20 95.00
0.10 47.50
0.40 190.00
0.50 237.50
35
Equity Security Holders Committee of
2/6/2009 PS-P
3/5/2009 PS-P
3/10/2009 PS-P
PS-P
3/9/2009 PS-P
PS-P
PS-P
3/7/2009 PS-P
PS-P
(.3) i review Trustees'
proposed stipulation with
Heritage Oaks Bank (.2)
Conference call with
trustees and counsel to go
over results of claims
investigations and other
issues
Telephone conference with
Frederickson about
bankruptcy filing by EFI
borrower
Receive and review trustee
packages on three proposed
sales with recommendations
and camps
Emails to and from Sharp
about tax reporting for
2008 and email to investor
on same subject
Receive and review email
from investor and respond
Receive and review motion
and supporting papers re
SLOCO settlement and email
to Maizel re same.
Email minutes of recent
meeting with note to Sherri
Bell
Receive and review
Shultheis email
Receive and review email
from Tiffini Hughes about
her project(.1) i letter
from Gabriel to trustees
about timetable for exiting
bankruptcy(.1) i Gabriel's
comments to my draft
objection to professional
Page
20
Hours Amount
0.90 382.50
0.30 127.50
0.30 127.50
0.20 85.00
0.20 85.00
0.30 127.50
0.20 85.00
0.10 42.50
0.80 340.00
36
Equity Security Holders Committee of
3/6/2009 PS-P
PS-P
PS-P
3/10/2009 PS-P
3/5/2009 PS-P
PS-P
PS-P
PS-P
3/4/2009 PS-P
3/3/2009 PS-P
fees(.3) i Orgel statement
of issues to be addressed
prior to plan confirmation
and Gabriel response(.3)
Receive and review Sherri
Bell's draft minutes from
3/3 meeting (.2) i email to
Brad about Omni fees
Email to Sorenson and
subcommittee members about
meeting in Santa Barbara
Exchange emails with
subcommittee members and
Sorenson
Receive and review
Navigators Insurance
Company errors and
omissions policy and letter
to committee members
Receive and review Gabriel
emails re Hines Ave and
letter to trustees
Review Gabriel's draft
letter to the trustees
about a timetable for
exiting Bankruptcy and
reply to him
Prepare minutes of March 3
meeting
Brief meeting with
Fittipaldi to go over
latest developments
Telephone conference with
investor
Committee meeting in SLO
and meeting before and
afteri telephone
conferences with Gabriel
Page
21
Hours Amount
0.30 127.50
0.20 85.00
0.30 127.50
0.40 170.00
0.20 85.00
0.30 127.50
0.50 212.50
0.30 127.50
0.20 85.00
4.00 1, 700.00
37
Equity Security Holders Committee of
3/3/2009 PS-P
3/2/2009 PS-P
PS-P
2/28/2009 PS-P
PS-P
3/19/2009 PS-P
3/23/2009 PS-P
PS-P
PS-P
and Jeremiassen about next
steps
Travel to and from SLO for
committee meeting
Review pleadings and
Sokol's final version of
insurance motion and
prepare for committee
meeting tomorrow
Telephone conference with
Fittipaldi
Review memo from Trustee's
tax expert on deductibility
of theft losses and respond
to him
Review and respond to
inquiry from Sokol about
our advances on committee
insurance policy
Receive and review letter
from Gabriel to Beall about
Hines Ave property
Telephone conference with
Gabriel about Wednesday
hearings
Receive and review emails
from Gabriel with revised
draft letter to all
investors (requesting
comments) and relating to
Foley Gannon hearing on
Wed.; telephone conference
with Gabriel
Emails from Adams and
Wheeler and respond
Page
22
Hours Amount
3.00 1,275.00
1. 20 510.00
0.30 127.50
0.30 127.50
0.30 127.50
0.20 85.00
0.30 127.50
0.70 297.50
0.20 85.00
38
Equity Security Holders Committee of
3/23/2009 PS-P
3/22/2009 PS-P
PS-P
3/20/2009 PS-P
PS-P
PS-P
PS-P
3/16/2009 PS-P
Emails from Madsen and
Adams about meeting on 25th
and respond
Receive and review
Gabriel's proposed letter
to investors and offer
suggestions for revisions
and email to clients re same
Receive and review email
and tax memo from Sharp and
respond; email from Gabriel
about advantages of Chapter
11 over Chapter 7 and
proposed letter to
investors; email to all
committee members about tax
issues and separate email
to them about Omni cost
estimates going forward
Receive and review
Shultheis minutes of
subcommittee meeting and
Maizel legal memo on
economics of liquidation in
Chapter 7 versus Chapter 11
Review pleadings in Foley
Cannon stay litigation and
letter from Gabriel and
emails back and forth among
counsel
Email to all subcommittee
members about meeting on
broker issues
Conference call with
trustees and their
attorneys and Larry Gabriel
about a number of issues
Receive and review emails
from investors and Gabriel
and respond as necessary
(.6); receive and review
Page 23
Hours Amount
0.20 85.00
0.40 170.00
1.00 425.00
0.30 127.50
0.60 255.00
0.30 127.50
1.20 510.00
1.10 467.50
39
Equity Security Holders Committee of
3/18/2009 PS-P
PS-P
PS-P
PS-P
trustee pleadings on
property sales (.2) i
receive and review series
of emails between
subcommitee and trustee
people about meeting with
Friedman and respond (.3)
Receive and review tax
question from investor CPA
and respond
Review the following
pleadings received from the
Pachulski firm :
Opposition to Spondulix
motion for relief from
stayi Juhnke declaration in
support of oppositioni
Notices and Declarations in
support of trustee's motion
to sell 2920 and 2925
Bayview Drive in Pismo
Beach and make
disbursementsi Settlement
Agreement with SLOCO
Foreclosure Service, LLCi
Notice of Trustee's
Proposed Acceptance of
Short Pay and related
transactions involving
77610 Ranchito Canyon Road,
San Miguel
More emails regarding
investor discussion about
converting case to Chapter 7
Review settlement
parameters in Exhibit A to
motion and exchange
multiple emails with Maizel
and Geher about getting the
motion finalized and filed
(.8) i emails with Geher and
Gabriel about broker
impasse (. 3)
Page
24
Hours Amount
0.20 85.00
1.20 510.00
0.30 127.50
1.10 467.50
40
Equity Security Holders Committee of
3/17/2009 PS-P
PS-P
PS-P
PS-P
3/16/2009 PS-P
PS-P
3/23/2009 PS-P
2/9/2009 PS-P
2/13/2009 PS-P
Go over Gabriel revisions
to motion to approve
settlement and make my own
changes
Receive and review email
from Wheeler and respond
Telephone conference with
Geher Esq. about broker
employment issues and email
to Gabriel re same and
telephone conference with
Lacey about situation
Review proposed settlement
agreement and motion and
telephone conference with
Larry Gabriel about it and
about broker employment
issues
Telephone conference with
investor about March 25
hearing
Telephone conference with
Tom Shultheis about his
concerns about listing and
marketing properties and
meeting with lead agent
Receive and review emails
from Gabriel about stay
hearing and Omni site
postings
Telephone conference with
Lacey about next meeting
(.2); emails to Lacey and
to Fittipaldi (.3)
Receive and review
insurance binder and email
from broker and email to
Lacey and Sharp re same
Page 25
Hours Amount
1. 00 425.00
0.20 85.00
0.60 255.00
1.40 595.00
0.20 85.00
0.50 212.50
0.20 85.00
0.50 212.50
0.30 127.50
41
Equity Security Holders Committee of
2/12/2009 PS-P
PS-P
PS-P
2/11/2009 PS-P
PS-P
PS-P
2/10/2009 PS-P
PS-P
PS-P
2/13/2009 PS-P
Telephone conference with
Fund investor
Telephone conference with
investor
Review trustee's
oppositions filed to the
Brown Construction and
California Plastering
motions for relief from stay
Telephone conference with
investor
Review new local rules and
revise draft fee application
Email from Sorenson about
sale orders and respond
(.2); finalize insurance
application and return to
broker (. 2)
Review proposed errors and
omissions policy for
committee members and
binder and email from agent
and email to Lacey
Telephone conference with
investor (.2); telephone
conference with reporter
for Pacific Business Times
Prepare and court
appearance re status
hearing on Shelton
Construction adversaries
against the two estates
Email from Gabriel and
Poitras re motion to
approve paying committee's
insurance premium and
respond
Page
26
Hours Amount
0.20 85.00
0.20 85.00
0.30 127.50
0.30 127.50
0.80 340.00
0.40 170.00
0.40 170.00
0.40 170.00
1.50 637.50
0.20 85.00
42
Equity Security Holders Committee of
2/9/2009 PS-P
PS-P
PS-P
PS-P
2/8/2009 PS-P
2/6/2009 PS-P
PS-P
PS-P
PS-P
Work on my fee application
(1.2) and telephone
conference with Sharp about
his and Jeremiassen's (.3)
Conference call with Maizel
and Geher about Shelton
lawsuit and other issues
(.5); review Shelton
complaints and answer and
status report for
tomorrow's hearing (.7)
emails with questions to
Tom and r e v i ~ w responses
Telephone conference with
attorney for investor
Receive and review emails
from Maizel regarding
Shelton hearing tomorrow
and respond and receive and
review Dec operating report
for fund and forward to
insurance broker
Emails from Juhnke about
insurance policies owned by
the estate and email from
Wheeler regarding
subcommittee procedures
Telephone conference with
Gabriel about various issues
Receive and review notice
and motion re sale of Bates
View property
Email from Gabriel and
respond to him and email to
Lacey
Telephone conference with
John Lacey about fees and
other and telephone
conference with Roger about
Page
27
Hours Amount
1.50 637.50
1.40 595.00
0.20 85.00
0.60 255.00
0.20 85.00
0.30 127.50
0.20 85.00
0.30 127.50
0.70 297.50
43
Equity Security Holders Committee of
2/6/2009 PS-P
2/27/2009 PS-P
2/20/2009 PS-P
2/27/2009 PS-P
2/26/2009 PS-P
2/25/2009 PS-P
2/24/2009 PS-P
2/23/2009 PS-P
PS-P
PS-P
making a report to the
committees
Final revisions to minutes
(.2) i receive and review
emails from Sharp and
Jeremiassen (.2) i email to
all committee members about
fees and upcoming hearing
(.3) i email from Lacey and
email to Frederickson
Review additional emails
from Sokol and trustee
about meeting next week and
respond
Email to Poitras about
noticing fee apps
Prepare meeting agenda and
conference call with Sokol
and Gabriel
Receive and review emails
from Sharp and Sokol about
3/2 committee meeting and
respond
Telephone conference with
investor
Email to Sharp about next
meeting
Email from Sokol Esq. about
the motion to approve
insurance purchase and
financing and respond
Telephone conference with
Attorney Iverson for
investors
Telephone conference with
Brad Sharp and Matt
Sorenson to prepare for
meeting on the 3rd (.6) i
Page
28
Hours Amount
1. 00 425.00
0.40 170.00
0.10 42.50
1. 00 425.00
0.30 127.50
0.10 42.50
0.20 85.00
0.30 127.50
0.30 127.50
1.50 637.50
44
Equity Security Holders Committee of
2/23/2009 PS-P
2/20/2009 ps.:..p
2/16/2009 PS-P
2/20/2009 PS-P
2/19/2009 PS-P
PS-P
PS-P
2/18/2009 PS-P
emails from Shultheis,
Wheeler, and Lavelle and
respond (.4) i receive and
review tax memo and email
from Brad's accountants on
deductiblity of theft
losses (. 5)
Telephone conference with
Paul Ready about property
liquidation process
emails back and forth with
Sharp and Jeremiassen about
tax deductibility of
investor losses and
employment of real estate
brokers
Review Alvand Construction
stay order
Telephone conference with
Richardson about procedure
for making offers on estate
properties
Email from Wheeler and
respond and email to Brad
Sharp
Receive and review inquiry
about tax treatment of
losses and reply and email
to Sharp re same
Email from Orgel about
settlementi email to
Klembecki about installment
purchase
Receive and review emails
from Klembecki regarding
insurance coverage and
premium financing agreement
and email to Lacey re same
Page 29
Hours Amount
0.30 127.50
0.40 170.00
0.10 42.50
0.20 85.00
0.20 85.00
0.30 127.50
0.20 85.00
0.40 170.00
45
Equity Security Holders Committee of
2/18/2009 PS-P
PS-P
2/17/2009 PS-P
PS-P
2/16/2009 PS-P
4/11/2009 PS-P
4/6/2009 PS-P
4/8/2009 PS-P
Telephone conference with
Sokol Esq.
Receive and review emails
from Orgel, Maizel, and
Gabriel and respond as
appropriate and email to
trustees about tax
reporting forms for 2008
Receive and review email
from Sokol Esq re insurance
coverage and telephone
conference with her about
motion for approval
Receive and review email
from Maizel about Gardality
lawsuit
Email to Orgel about
getting settlement
agreement finalized.
Email from Sharp about real
estate sales procedures and
respond (.2) i receive and
review series of emails
from Adams, Wheeler,
Gabriel, Bell, Sorenson and
Shultheis about employment
of brokers and noticing
procedures for sales (.3) i
review sales package on
proposed sale of B410-05
property (. 1)
Telephone conference with
Lacey about committee
meeting and email to Sharp
and to and from Gabriel
about the topics
Telephone conference with
Paul Ready re motion to
settlement (.3) i telephone
conference with attorney
Page
30
Hours Amount
0.20 85.00
0.40 170.00
0.30 127.50
0.20 85.00
0.20 85.00
0.60 255.00
0.40 170.00
0.50 212.50
46
Equity Security Holders Committee of
4/4/2009 PS-P
3/27/2009 PS-P
4/8/2009 PS-P
3/27/2009 PS-P
3/31/2009 PS-P
4/8/2009 PS-P
3/31/2009 PS-P
PS-P
John Lang re his investors
claims (.2)
Email from Lacey about
meeting and complete agenda
Email from Wheeler and
respond
Telephone conference with
Roger about various estate
claims and yesterday's
meeting
Receive and review short
pay motion and accounting
for Bonita Ave, Fresno
property
Emails back and forth with
Maizel about my covering
his hearing this morning
Joint committee meeting in
San Luis Obispo and prepare
(2.5); subsequent meeting
with Frederickson and
Juhnke to go over options
for proceeding against Guth
and Applebaum and
conference call with Maizel
re same (1.0); travel to
and from meeting (3.0)
Receive and review stacking
date order and order
regarding sale and
distribution of proceeds
for 2920 and 2925 Bayview,
Pismo Beach
Receive and review
Gabriel's draft letter on
Hines Ave problem and
suggested solution and
email to Brad and Tom re
same
Page 31
Hours Amount
0.30 127.50
0.10 42.50
0.40 170.00
0.20 85.00
0.20 85.00
6. 5.0 2,762.50
0.20 85.00
0.30 127.50
47
Equity Security Holders Committee of
4/1/2009 PS-P
4/7/2009 PS-P
4/2/2009 PS-P
PS-P
4/6/2009 PS-P
4/8/2009 PS-P
4/2/2009 PS-P
4/11/2009PS-P
4/2/2009 PS-P
Go over Gabriel proposal on
Hines Ave and talk with
Geher and email to Gabriel
and conference call with
Brad and Tom Geher
Telephone conference with
Fricks Esq. about his
client's response to Hines
settlement proposal
Meeting with Goodell group,
Gabriel, and Jeremiassen
about administering the
Hines Ave property and loan
Prepare tax memo to Fund
investors to go up on Omni
website and discuss with
Gabriel and Jeremiasseni
email to Sharp, Calder, and
attorneys re same
Exchange emails with Larry
about Hines and meeting
tomorrow
Receive and review email
from investor fund reps and
respond
Receive and review email
and Herald article from
Lavelle about consolidating
estates and respond
Review trustee sales
packages on properties
relating to loans B574-05,
B523-04 and B258-04,
B647-05 and B776-03,
B571-05 and B410-05,
B410A-05
Prepare agenda for April 7
joint committee meeting
Page
32
Hours Amount
0.60 255.00
0.50 212.50
1.00 425.00
0.60 255.00
0.30 127.50
0.20 85.00
0.30 127.50
0.50 212.50
0.40 170.00
48
Equity Security Holders Committee of
4/6/2009 PS-P
4/2/2009 PS-P
4/3/2009 PS-P
PS-P
PS-P
PS-P
4/6/2009 PS-P
4/3/2009 PS-P
4/4/2009 PS-P
Prepare insurance expenses
summary and package for
Trustees and forward (.4);
email from Roger about King
settlement an email to
Larry and review Roger's
package (.4); telephone
conference with John Fricks
about Hines Ave and his
client Goodell group
Review trustees' joint
motion to approve
settlement parameters and
declarations and notice
Conference call with
Gabriel, Frederickson, and
property administrator
about possible settlements
with John King Ventures and
Davis on Nacimiento
property loans and review
summary emails of proposed
deals
Receive and review email
and follow up article on
asset consolidation from
Lavelle
Email from Buckley and
respond
Emails from Engelhardt and
respond
Conference call with
attorneys and trustee J.
about Hines Ave status
Multiple emails regarding
Foley Gannon/Bines Ave
situation
Receive and review emails
from Larry G about next
meeting, agenda items,
Page 33
Hours Amount
1.10 467.50
0.40 170.00
0.80 340.00
0.20 85.00
0.10 42.50
0.20 85.00
0.40 170.00
0.20 85.00
0.40 170.00
49
Equity Security Holders Committee of
4/6/2009 PS-P
PS-P
PS-P
4/10/2009 PS-P
3/24/2009 PS-P
PS-P
3/25/2009 PS-P
4/10/2009 PS-P
3/25/2009 PS-P
Hines Ave updates, and
respond to him and to
Sharp/Geher
Telephone conference with
Paul Ready about settlement
motion
Receive and review emails
and offering packets on
half dozen properties and
projects from Jeremiassen
to subcommittee members
Multiple emails with
attorneys and Gabriel about
the Hines Ave.
Telephone conference with
Roger
Further exchange of emails
regarding hearings tomorrow
Receive and review motion
and support for short pay
agreement with Coleman on
Ferralone Estates properties
Court appearance re joint
committee motion for
authority to pay insurance
premiums for D&O insurance
Telephone conference with
Brad Sharp about various
Meeting with trustees and
their attorneys about
various issues in the case
including getting
settlement motion filed;
meeting with Friedman and
subcommittee about
employment of brokers and
sales procedures
Page 34
Hours Amount
0.30 127.50
0.60 255.00
0.20 85.00
0.20 85.00
0.20 85.00
0.20 85.00
1. 00 425.00
0.30 127.50
4.00 1,700.00
50
Equity Security Holders Committee of
4/10/2009 PS-P
4/9/2009 PS-P
PS-P
3/25/2009 PS-P
4/9/2009 PS-P
3/26/2009 PS-P
4/9/2009 PS-P
4/10/2009 PS-P
3/26/2009 PS-P
PS-P
4/10/2009 PS-P
3/27/2009 PS-P
Receive and review Adler
response to settlement
motion
Receive and review email
from Frederickson and
respond and telephone
conference with him and
email to Trustee and
attorneys
email from Merrill Lynch
and respond re their
investor accounts
Email from Altounian
Exchange emails with
Gabriel about parameters
motion and review investor
Cagliaro opposition to
motion
Email to Sokol about
insurance motion
Telephone conference with
St Ochre and Adler/ Fund
investors
Prepare supplemental
declaration regarding
compliance with 11 USC
Section 327
Prepare order granting
motion re payment of
insurance premiums
Email from Sorenson and
respond
Email to Frederickson
Receive and review email
from Maizel with detailed
changes to website
Page 35
Hours Amount
0.20 85.00
0.40 170.00
0.20 85.00
0.10 42.50
0.50 212.50
0.20 85.00
0.20 85.00
0.70 297.50
0.40 170.00
0.20 85.00
0.10 42.50
0.20 85.00
51
Equity Security Holders Committee of
3/26/2009 PS-P Email from Maizel about
calendaring and respond and
email to Fittipaldi
SUBTOTAL:
CLAIMS ADMIN.
5/1/2009 JG
4/2/2009 PS-P
Plan for comments
Receive and review email
from Barbara Englehardt
about claim forms and
directions for her 800
correspondents and respond
SUBTOTAL:
CRED. MEETINGS
5/1/2009 JG
5/4/2009 JG
5/1/2009 JG
5/4/2009 JG
4/16/2009 JG
5/1/2009 JG
5/5/2009 JG
Analyze settlement
procedures motion and
prepare report to investors.
Revise report to investors
Review website prepared by
trustees
Review omni website and
prepare for c,redi tors'
committee meeting
Conference call with real
estate subcommittee
Conference with L. Gabriel
to discuss upcoming
committee meeting and
preparation of agenda
Prepare for creditor's
meeting
Page 36
Hours Amount
0.20 85.00
[
170.10 68,755.50]
0. 30 NO CHARGE
0.50 212.50
0.80 212. 50]
1.00 340.00
0.30 102.00
0.60 204.00
0.90 NO CHARGE
1.00 NO CHARGE
0.40 136.00
0.80 NO CHARGE
52
Equity Security Holders Committee of
SUBTOTAL:
FEE/EMP APPL.
4/11/2009 PS-P
7/23/2009 PS-P
2/11/2009 PS-P
4/14/2009 PS-P
2/6/2009 PS-P
7/20/2009 PS-P
4/15/2009 PS-P
2/10/2009 PS-P
4/14/2009 PS-P
PS-P
2/11/2009 PS-P
4/22/2009 PS-P
Prepare notice of increase
in rates and change of firm
members
Receive and review notice
of Pachulski rate changes
Finalize interim fee
application
Receive and review
Frederickson supplemental
declaration draft and
respond
Email to Lacey about
inviting trustees to next
meeting
Prepare draft second
interim fee application for
9/14 hearing
Receive and review Omni
billing to Fund for March
Work on fee application
Prepare monthly United
States Trustee report
Receive and review Maizel
draft response to United
States Trustee objections
and email to him
Exchange emai.ls with Juhnke
about their fee app
Hearing on interim fee
applications
Page
37
Hours Amount
5.00 782.00]
0.30 127.50
0.10 47.50
0.80 340.00
0.30 127.50
0.20 85.00
1. 40 665.00
0.10 42.50
2.00 850.00
0.10 42.50
0.30 127.50
0.20 85.00
1. 30 552.50
53
Equity Security Holders Committee of
3/5/2009 PS-P
3/19/2009 PS-P
5/27/2009 PS-P
3/19/2009 PS-P
4/20/2009 PS-P
3/9/2009 PS-P
4/28/2009 PS-P
3/5/2009 PS-P
3/25/2009 PS-P
3/26/2009 PS-P
4/23/2009 PS-P
3/23/2009 PS-P
Prepare objections to fee
applications by both
committees and email to
Gabriel and Sokol re same
Receive and review
additional filings for fee
hearing
Work on next interim fee
application
Receive and review
Fittipaldi objection to fee
applications and locate
answers to his questions
Review trustees' omnibus
response to fee objections
Finalize fee objection and
emails to and from Larry
Receive and review emails
from Maizel and others
about proposed order on
interim applidation and
review and reply
Telephone conference with
Poitras and Sam Maizel
about fee objections
Court appearance re
application for interim fees
Prepare brief response to
United States Trustee
objection to fees
Emails with counsel about
next hearing
Receive and review
Jeremiassen declaration re
fee applications (.1);
Page
38
Hours Amount
1. 00 425.00
0.20 85.00
0.50 237.50
0.30 127.50
0.20 85.00
0.30 127.50
0.20 85.00
0.40 170.00
1. 00 425.00
0.30 127.50
0.20 85.00
0.20 85.00
54
Equity Security Holders Committee of
2/20/2009 PS-P
receive and review Lacey
letter and Maizel email
Telephone conference with
Frederickson about geting
his fee application filed
and noticed
SUBTOTAL:
FEE/EMP. OBJECT
2/19/2009 JS-P
3/10/2009 PS-P
PS-P
Review and comment on R.
Fredrickson fee application
Review fee applications for
March 25 hearing
Prepare service
instructions on tee
objection
SUBTOTAL:
LEGAL SERVICES
6/11/2009 JG Review stipulation with MBCI
SUBTOTAL:
MEET./CREDITORS
4/16/2009 JG
5/1/2009 JG
JG
5/6/2009 JG
Review e-mail from Rick
Wheeler re real estate
broker.
Draft letter to investors.
Review and revise letter to
investors
Creditors committee meeting
Page 39
Hours Amount
0.30 127.50
12.20 5,285.00]
0.50 197.50
0.70 297.50
0.10 42.50
1.30 537. 50]
0.40 136.00
0.40 136. 00]
0.10 NO CHARGE
1. 50 510.00
0.50 170.00
5.00 1,700.00
55
Equity Security Holders Committee of
SUBTOTAL:
STAY LITIGATION
3/20/2009 PS-P
3/25/2009 PS-P
3/24/2009 PS-P
3/19/2009 PS-P
3/24/2009 PS-P
PS-P
Conference call with
attorneys f o ~ trustees,
Gabriel, and Will Beall
about Hines Ave relief from
stay motion and telephone
conference with Will Beall
Meeting with trustee
attorneys and Gabriel and
meeting with Goodell and
his investor group about
Foley Gannon stay motion
and court appearance re same
Emails from Maizel and
Larry about hearing
tomorrow and respond
Receive and review Goodell
motion for relief from stay
on Hines Ave property
Telephone conference with
Beall about stay hearing
tomorrow
Receive and review emails
from Gabriel and others
about Foley Gannon stay
hearing and Hines Ave
project
SUBTOTAL:
TAXES
3/26/2009 PS-P Receive and review email
from accountant for
multiple investors and
telephone conference with
him and email him tax info
Page
40
Hours Amount
7.10 2,380.00]
0.80 340.00
2.50 1,062.50
0.10 42.50
0.20 85.00
0.20 85.00
0.30 127.50
4.10 1,742.50]
0.40 170.00
56
Equity Security Holders Committee of
3/27/2009 PS-P
4/8/2009 PS-P
4/7/2009 PS-P
PS-P
4/2/2009 PS-P
4/22/2009 PS-P
3/24/2009 PS-P
PS-P
4/20/2009 PS-P
PS-P
4/14/2009 PS-P
Telephone conference with
investor
Telephone conference with
investors Coffman and
Buttoms regarding tax issues
Telephone conference with
Calder about K-1 likely
contents
Email from investor about
returns and respond
Multiple emails about tax
memo, revise .and forward to
Omni
Receive and review email
from Minkel about plan
administration values and
respond
Email from Tom J. about
K-1's and respond
Email to trustees about tax
returns and response from
Tom J. and telephone
conference with investor re
same and go to web site
Email from IRA
administrator and from
Sharp and respond to
administrator about valuing
fund interests for
distribution purposes
Telephone conference with
Richard Hilliard, CPA,
about his clients' claims
Telephone conference with
investor with tax problems
Page 41
Hours Amount
0.10 42.50
0.40 170.00
0.20 85.00
0.20 85.00
0.40 170.00
0.20 85.00
0.20 85.00
0.50 212.50
0.30 127.50
0.40 170.00
0.20 85.00
57
Equity Security Holders Committee of
SUBTOTAL:
Total fees
Additional Charges:
$Certified Copy
4/23/2009 Certified Copy
3/31/2009 Certified Copy
SUBTOTAL:
$ConferenceCall
7/7/2009 Conferencing Services
SUBTOTAL:
$Court Charges
5/29/2009 Certification
SUBTOTAL:
$Express Mail
4/17/2009 FedEx
SUBTOTAL:
$FAX
7/31/2009 Faxes
SUBTOTAL:
$Filing Fee
2/11/2009 Filing Fee
SUBTOTAL:
$Pacer
3/31/2009 Court docket search on Pacer
Page 42
Hours Amount
3.50 1,487.50]
207.40 $82,456.00
30.40
20.40
50.80]
70.64
70.64]
30.00
30. 00]
30.27
30. 27]
2.50
2. 50]
28.90
28.90]
8.72
58
Equity Security Holders Committee of
SUBTOTAL:
$Photocopies
3/31/2009 Photocopies
7/21/2009 Photocopies
7/9/2009 Photocopies
6/1/2009 Photocopies
4/30/2009 Photocopies
4/27/2009 Photocopies
2/9/2009 Photocopies
3/31/2009 Photocopies
4/6/2009 Photocopies
4/2/2009 Photocopies
3/31/2009 Photocopies
3/23/2009 Photocopies
3/20/2009 Photocopies
2/28/2009 Photocopies
2/25/2009 Photocopies
6/30/2009 Photocopies
7/31/2009 Photocopies
SUBTOTAL:
$Postage
4/30/2009 Postage
2/28/2009 Postage
3/31/2009 Postage
5/31/2009 Postage
SUBTOTAL:
$Telephone
2/28/2009 Telephone
SUBTOTAL:
$Westlaw
2/28/2009 Westlaw charges for legal research
SUBTOTAL:
Total costs
Page
43
Amount
8.72]
0.75
1. 00
0.50
7.75
46.50
39.50
5.25
186.50
18.00
23.50
10.50
17.00
22.00
2.50
22.75
28.75
28.75
461.50]
11.34
43.29
39.43
0.42
94. 4 8]
7.86
7. 86]
43.23
43.23]
$828.90
59
Equity Security Holders Committee of
Total amount of this bill
Balance due
NEW RATES, Effective May 1, 2009
Peter Susi
Franklyn S. Michaelson
Jon Gura
Kim Cordero
Cheryl Niccoli
COSTS - Billed at cost except for:
$475/hour
$475/hour
$340/hour
$ 95/hour
$ 95/hour
Photocopies (In house) $0.25/page
FAX (outgoing $0.50 /page)
Previous balance of Default
7/23/2009 Payment to account. Check No. 1033
New balance of Default
Page 44
Amount
$83,284.90
$83,284.90
$0.00
$61,491.85
60
FIRM RESUME
PETER SUSI
Juris Doctor degree, University of Chicago Law School1974. Admitted to California and federal bar 1974.
Associate with Stutman, Treister & Glatt 197 4-1977. Associate with Danning, Gill, Michaelson & Gould 1977-
1979. Partner with Michaelson & Susi, later Michaelson, Susi & Michaelson, 1979-present. Practice limited
exclusively to bankruptcy, reorganization, and other debtor/creditor-related matters. Has acted as lead
attorney on seventy or more Chapter 11 bankruptcy cases and served as counsel to Chapter 7 and Chapter
11 Trustees on numerous occasions. Former adjunct professor at Santa Barbara College of Law and
volunteer judge pro tern in Santa Barbara County Small Claims Court. Lectures regularly to bar association
and certified public accountancy groups as well as to the general public.
FRANKLYN S. MICHAELSON
Juris Doctor degree, University of California, Davis, California 1974. Admitted to California and federal bar
197 4. Former deputy district attorney, deputy public defender, and associate at Schlegel, Friedemann &
Menke (Orange, California) and Hatch & Parent (Santa Barbara, California). Retained bankruptcy expert by
County of Santa Barbara; former adjunct professor, Santa Barbara School of Law; and frequent lecturer on
bankruptcy matters to professional and student groups and local media. Member: Federal Bar Association;
Santa Barbara and Ventura County Bar Associations; Board of Directors, Federal Bar Association -Central
Coast Chapter; and Los Angeles Bankruptcy Forum. National Delegate, Federal Bar Association, 2004
Annual Conference. Former member: Ninth Circuit Judicial Conference Lawyer Representative; Leadership
Subcommittee of Long Range Plan Implementation Committee for U.S. Bankruptcy Court, Central District of
California; 2001 Merit Selection Panel for reappointment of U.S. Magistrate Judge; and American Bankruptcy
Institute. Partner, Michaelson, Susi & Michaelson, a Professional Corporation, 1982-present, Santa Barbara,
California. Practice focused on bankruptcy, reorganization, and other debtor/creditor related matters,
representing debtors, creditors, and creditor committees, with emphasis in bankruptcy court litigation.
EXHIBIT" C "
61
Michaelson, Susi & Michaelson
Firm Resume
Page Two
JONATHAN GURA
Juris Doctor degree from UCLA School of Law (Order of the Coif) in 1999. Admitted to California and federal
bar 2000. Bachelors of Arts degree in Economics from University of California at Berkeley (Phi Beta Kappa)
in 1996. Judicial Law Clerk for the Honorable Ronald S.W. Lew of the United States District Court for the
Central District of California. Former associate at the law firms lrell & Manella and Klee, Tuchin, Bogdanoff
& Stern. Principal of JKG Properties LLC, a real estate investment firm.
JOSEPH M.SHOLDER
Juris Doctor degree, University of Arizona (Order of the Coif), 1980; Managing Editor, Arizona Law Review.
Bar admissions: Arizona 1980; United States District Court, District of Arizona 1981; Illinois and United States
District Court Northern District of Illinois 1982; California 1986; United States District Court Central, Eastern
and Northern Districts of California 1987; Ninth Circuit Court of Appeals 1992. Law Clerk to Honorable
MaryAnne Richey, United States District Court, District of Arizona 1980-1982. Associate, Mayer, Brown &
Platt, Chicago, Illinois 1982-1985; Associate, Cappello & Foley, Santa Barbara, California 1986-1988;
Associate and Partner with Michaelson, Susi & Michaelson 1988-present. Practice limited exclusively to
bankruptcy, reorganization and other debtor/creditor related matters. Lecturer to Bar Association Continuing
Legal Education and Adult Education groups on bankruptcy and insolvency issues.
LEGAL ASSISTANTS
CHERYL NICCOLI
University of California, Santa Barbara 1964-1967. Graduated with honors June 1983 from Santa Barbara
Business College Legal Secretary Program. Legal secretary/legal assistant at Michaelson, Susi & Michaelson,
July 1983 to present, assisting attorneys in more than 100 Chapter 11 bankruptcy cases and other debtor-
creditor matters, including the initial preparation of bankruptcy petitions, schedules and related documents,
as well as the initial drafting of notices, motions, applications, and orders. Completed ABA accredited UCSB
Legal Assistantship Program course Bankruptcy Law for Paralegals.
KIM CORDERO
Graduated from Snyder Business College Legal Secretary Program (Santa Barbara) in 1979. Legal secretary
at Haws, Record & Williford from 1979 to 1985; executive secretary at Transcontinental Corporation from
1985 to 1989; legal secretary/legal assistant at Michaelson, Susi & Michaelson from 1989 to present, assisting
attorneys in more than 50 Chapter 11's and 1 00 Chapter 7's, including initial drafting of various bankruptcy
petitions, schedules and related documents, notices, motions, applications, orders, and discovery documents,
as well as assisting in other debtor/creditor-related matters. Completed ABA accredited UCSB Legal
Assistantship Program course Bankruptcy Law for Paralegals.
b2
In re: CHAPTER 11
ESTATE FINANCIAL MORTGAGE FUND, LLC
Debtor(s). CASE NUMBER NO 08-11535-RR
NOTE: When using this form to indicate service of a proposed order, DO NOT list any person or entity in Category I.
Proposed orders do not generate an NEF because only orders that have been entered are placed on the CM/ECF docket.
PROOF OF SERVICE OF DOCUMENT
I am over the age of 18 and not a party to this bankruptcy case or adversary proceeding. My business address is:
7 West Figueroa Street, Second Floor, Santa Barbara, California 93101.
The foregoing document described APPLICATION FOR PAYMENT OF INTERIM FEES AND/OR EXPENSES (11 USC
331) will be served or was served (a) on the judge in chambers in the form and manner required by LBR 5005-2(d);
and (b) in the manner indicated below:
I. TO BE SERVED BY THE COURT VIA NOTICE OF ELECTRONIC FILING ("NEF")- Pursuant to controlling General
Order(s) and Local Bankruptcy Rule(s) ("LBR"), the foregoing document will be served by the court via NEF and hyperlink
to the document. On August 14, 2009 , I checked the CM/ECF docket for this bankruptcy case or
adversary proceeding and determined that the following person(s) are on the Electronic Mail Notice List to receive NEF
transmission at the email address(es) indicated below:
cgj Service information continued on attached page
II. SERVED BY U.S. MAIL OR OVERNIGHT MAIL(indicate method for each person or entity served):
On August 14, 2009 , I served the following person(s) and/or entity(ies) at the last known address(es) in this
bankruptcy case or adversary proceeding by placing a true and correct copy thereof in a sealed envelope in the United
States Mail, first class, postage prepaid, and/or with an overnight mail service addressed as follows. Listing the judge here
constitutes a declaration that mailing to the judge will be completed no later than 24 hours after the document is filed.
cgj Service information continued on attached page
Ill. SERVED BY PERSONAL DELIVERY, FACSIMILE TRANSMISSION OR EMAIL (indicate method for each person or
entity served): Pursuantto F.R.Civ.P. 5 and/or controlling LBR, on August 14, 2009, I served the following
person(s) and/or entity(ies) by personal delivery, or (for those who consented in writing to such service method), by
facsimile transmission and/or email as follows. Listing the judge here constitutes a declaration that personal delivery on
the judge will be completed no later than 24 hours after the document is filed.
BYPERSONALDELNERY
The Honorable Robin L. Riblet
U.S. Bankruptcy Court
1415 State Street
Santa Barbara, CA 93101
cgj Service information continued on attached page
I declare under penalty of perjury under the laws of the United States of America that the foregoing is true and correct.
~ Q _ k z ~ -
Signature (
August 14, 2009 Cheryl Niccoli
Date Type Name
This form is mandatory. It has been approved for use by the United States Bankruptcy Court for the Central District of California.
January 2009
F 9013-3.1
SERVICE LIST
Estate Financial Mmigage Ftmd, LLC
Chapter 11 Case No.: ND 08-11535-RR
SERVED ELECTRONICALLY
William C. Beall artvc@aol.com
Mark Bradshaw mbradshaw(a),shbllp.com
James L. Brunella kateover66@vahoo.com
Jerome S. Cohen jsc@jscbklaw.com
Caroline Djang crd(a),jmbm.com
Joseph A. Eisenberg jae@jmbm.com
Brian D. Fittipaldi brian.fittipaldi@usdoj.gov
Thomas M. Geher tmg(a),jmbm.com
David Gould dgould@davidgoldlaw.com
Robert E. Hurlbett bob@hurlbettlaw.com
Lewis R. Landau lew(a),landaunet.com
Leib M. Lerner leib.lerner@alston.com
Samuel R. Maizel smaizel@pszjlaw.com
David M. Poitras dpoitras@.jmbm.com
Dean G. Rallis, Jr. Dean.rallis(a),alston.com
Robyn B. Sokol ecf@ebg-law.com, rsokol@ebg-
law.com
Peter Susi cheryl@msmlaw.com,
peter@.msmlaw.com
United States Trustee (ND)
ustregion16.nd.ecf@usdoj.gov
Katherine M. Windler
katherine. windler@bryancave.com
Jonathan R. Zeko zeko@.grantandzeko.com
SERVED BY U.S. MAIL
Chapter 11 Trustee
Bradley D. Sharp
Development Specialist, Inc.
333 S. Grand Avenue, Suite 4070
Los Angeles, CA 90071-1524
Chapter 11 Trustee for Estate Financial,
Inc.
Thomas P. Jeremiassen, Trustee
c/o LECGLLC
2049 Century Park East 2300
Los Angeles, CA 90067
Attorneys for Estate Financial, Inc.
Creditor Committee
Larry Gabriel, Esq.
Robyn B. Sokol, Esq.
Ezra Brutzkus Gubner LLP
21650 Oxnard Street, Suite 500
Woodland Hills, CA 91367
Counsel for Karen Guth
Steven C. Smith, Esq.
Smith, Chapman & Campbell
1800 North Broadway, Suite 200
Santa Ana, CA 92706
Chairman of EFMF Equity Committee
John Lacey
652 W. Cromwell Avenue, #103
Fresno, CA 93711-5715
SERVED BY E-MAIL
Members of the EFMF Equity Committee
James Buckley JimDavidBuckley@aol.com
Robert Meyer dcobb(a),mevemet.com
Butch Lavelle Blavelle@meyernet.com
Sean O'Neal soneal@surgcenter.com
Harold Steinbeck steinbev@yahoo.com
William Adams williamadamsinc@yahoo.com
Patrick Wheeler Pwheeler@aol.com
Chris Madson c madson@sbcglobal.net
John Lacey j dlacey@dishmailnet