Opinion
Civil Action 3:12 cv 519
08-16-2022
SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. REX VENTURES GROUP, LLC d/b/a ZEEKREWARDS.COM, and PAUL BURKS, Defendants.
ORDER
GRAHAM C. MULLEN UNITED STATES DISTRICT JUDGE
This matter is before the Court upon the Receiver's Application for Fees and Expenses by the Receiver and His Advisors for the Final Billing Period, filed August 1, 2022 (the “Application”). The Court has considered the Application and for good cause shown, IT IS ORDERED, ADJUDGED AND DECREED that:
1. The Receiver's Application is GRANTED.
2. The Receiver and McGuireWoods LLP SHALL BE AWARDED an allowance of $57,459.14 for legal services rendered during the Final Billing Period, and $520.00 for the reimbursement of expenses incurred during the same period.
3. FTI Consulting, Inc. SHALL BE AWARDED an allowance of $39,429.00 (of which $7,885.50 will be held back) for services rendered during the Final Billing Period.
4. The remaining $1,519,278.07 holdback owed to McGuire Woods LLP be released as follows: $275,000.00 to be allotted for distribution to injured investors, and $1,244,278.07 to be released to McGuire Woods LLP.
5. The Receivership Estate IS HEREBY AUTHORIZED to immediately pay such amounts and reimburse McGuireWoods LLP and FTI Consulting, Inc. for approved expenses.
6. The Receivership Estate is authorized to pay FTI's fees going forward, as its final distribution work is invoiced to the Receivership Estate.