Opinion
Case No. 99-51514-WS.
April 5, 2007
ORDER DENYING DEBTOR'S MOTION TO SET ASIDE/VACATE ORDER OF JANUARY 8, 2007, APPROVING RETENTION OF US LOCATOR SERVICE CORPORATION
Debtor, having moved on various grounds to set aside/vacate the Court's Order of January 8, 2007, Granting Motion of Chapter 7 Trustee to Retain US Locator Service Corporation ("Order"), the Court having held a hearing thereon;
It is hereby concluded and ordered as follows;
(1) The Motion is denied for the reasons set forth by the Trustee as articulated at the hearing, and because it appears that applicable procedural rules incident to the entry of the Order were either complied with, or the persons or entities who were entitled to prior notification, if any, having now had notice, do not now object to the Order; and
(2) At such time as the Trustee seeks to pay compensation to US Locator Service Corporation, or said entity itself seeks compensation, pursuant to the Order, such shall be the subject of a duly noticed hearing thereon before the Court; and in connection therewith the Court will take into account the following, among other relevant considerations:
A. The provisions of the Order and the agreement referenced therein between the Trustee and US Locator Service Corporation, including the specific incorporation therein of the Rules of Professional Conduct adapted by the New Hampshire Supreme Judicial Court; Rule 1.5 of which relates to Fees and the factors to be considered in determining the reasonableness of a fee as set forth therein;
B. The offer of the Debtor made during the hearing to cooperate in obtaining the assets involved; and the extent to which the Debtor acted upon that offer;
C. The degree to which the assets involved are not assets of the bankruptcy estate;
D. The apparent fact that the Debtor did not himself bring the existence of such assets to the attention of the Trustee or parties in interest by way of amending filed schedules or in some other manner, prior to the entry of the Order;
E. The circumstances surrounding the entry of the Order and any investigation or inquiries made by the Trustee incident thereto;
F. The nature and amount of time and effort expended by US Locator Service Corporation in connection with its performance; and the extent to which such entity should or should not be considered a "professional" within any applicable provisions of the Bankruptcy Code; (cf; In re American Tissue, Inc., 331 B.R. 169 (Bankr, Ct. Dec 137, 2005).
The Trustee shall serve a copy of this Order on US Locator Service Corporation.