UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION In re: ) ) Case No. 21bk04729 Crave Brands, LLC ) ) Chapter 11 Debtor. ) ). Honorable Timothy A. Barnes FINDINGS OF FACT AND CONCLUSIONS OF LAW IN SUPPORT OF ORDER AWARDING TO MATTHEW BRASH, SUBCHAPTER V TRUSTEE, FOR ALLOWANCE AND PAYMENT OF INTERIM COMPENSATION AND REIMBURSEMENT OF EXPENSES TOTAL FEES REQUESTED: $54,974.50 ‘TOTAL COSTS REQUESTED: — $425.45 TOTAL FEES REDUCED: $ 236.00 TOTAL COSTS REDUCED: $ 0.00 TOTAL FEES ALLOWED: $ 54,738.50 ‘TOTAL COSTS ALLOWED: $ 425.45 TOTAL FEES AND COSTS ALLOWED: $ 55,163.95 ‘The attached time and expense entries have been underlined to reflect disallowance in whole or in part. The basis for each disallowance is reflected by numerical notations that appear on the left of each underlined entry. The numerical notations correspond to the enumerated paragraphs below.
(1) Unauthorized Work — TOTAL of disallowed amounts $ 236.00 The Court denies the allowance of compensation for work done prior to the authorization of retention. In re Spanjer Bros., Inc., 203 B.R. 85, 94 (Bankr. N.D. IIL 1996) (Squires, J.) (“The Court will not retrospectively allow any of the time expended prior to the time of the authorized retention because to do so would be to reward any delay or tardiness in promptly seeking retention. ‘To allow bootstrapping of objected to fees paid at the expense of unsecured creditors undermines the policy in favor of prompt application for retention by professionals who will be seeking compensation from the bankruptcy estate. See generally 11 U.S.C. § 327 (prerequisite to the allowance of any fees or expenses that professional be employed); In re Peoples Sav. Corp., 114 B.R. 151, 154 (Bankr. N.D. IIL 1990) (‘In the absence of a court order approving the Applicant’s employment, there is no statutory basis upon which the Court can make a fee award.’)’”). ROSS Dated: 10.25.21 ‘ _ ‘Timothy A. Barnes United States Bankruptcy Judge
Matthew Brash Business Analysis 04/28/21 Convert company cash flow model to NAC cash flow 3.00 $200.00 $600.00 format Matthew Brash Business Analysis 05/03/21 Updated cash flow model with weekly data 0 .90 $200.00 $180.00 Matthew Brash Business Analysis 05/05/21 Build variance by week tab within cash flow model 0 .30 $200.00 $60.00 Matthew Brash Business Analysis 05/11/21 Update cash flow model weekly actuals 0 .30 $200.00 $60.00 Matthew Brash Business Analysis 05/14/21 Update cash flow model with weekly actual data 0 .30 $200.00 $60.00 Matthew Brash Business Analysis 05/17/21 Update cash flow model with data provided by company 0 .50 $200.00 $100.00 Matthew Brash Business Analysis 05/25/21 Update cash flow model with actual data provided 0 .30 $200.00 $60.00 Matthew Brash Business Analysis 05/28/21 Update cash flow model with actual data provided 0 .30 $200.00 $60.00 Matthew Brash Business Analysis 06/07/21 Update cash flow model with prior week actuals 0 .20 $200.00 $40.00 Matthew Brash Business Analysis 06/09/21 Cash flow model extension, comparison of original projects 1.50 $200.00 $300.00 to new, update with actuals Matthew Brash Business Analysis 06/15/21 Prior week update and review of cash flow model 0 .30 $200.00 $60.00 Matthew Brash Business Analysis 06/16/21 Extension of cash flow model and prepare analysis to 2.50 $200.00 $500.00 compare original to current forecast Matthew Brash Business Analysis 06/23/21 Weekly update of cash flow model 0 .30 $200.00 $60.00 Miquela Hiller Business Analysis 07/01/21 Assist Trustee by updating cash flow model based on 0.90 $200.00 $180.00 access/actual financials on Fifth Third and Chase Bank accounts Matthew Brash Business Analysis 07/06/21 Organized data from Meathead financials to demonstrate 1.60 $295.00 $472.00 what the profit share might be for WDH based on EBTDA; prepared summary together with a detailed spreadsheet supporting the calculation Miquela Hiller Business Analysis 07/06/21 Call with Trustee regarding cash flow model 0 .30 $200.00 $60.00 Miquela Hiller Business Analysis 07/06/21 Compare bank statements to data provided and update 1.50 $200.00 $300.00 cash flow model for Trustee Douglas Leach Business Analysis 07/07/21 Zoom call w/ MH, and M Webb to obtain passwords for 0.60 $250.00 $150.00 accounting and POS and discussed preparation of daily cash flow report Douglas Leach Business Analysis 07/08/21 Call with MH, CS, MH and S. Karfaridis and M. Webb to 1.00 $250.00 $250.00 discuss current issues and the Period 6 monthly consolidated P and L Miquela Hiller Business Analysis 07/08/21 Review Chase bank data, set up and review reports in 1.20 $200.00 $240.00 Aloha and Compeat Software Douglas Leach Business Analysis 07/09/21 Zoom meeting w/ MH and S. Gailey to go through the 0.40 $250.00 $100.00 Aloha POS reports and how to retrieve the information Newpoint requires to prepare cash flow analysis Miquela Hiller Business Analysis 07/09/21 Updated cash flow model with data from Aloha software 0 .40 $200.00 $80.00 Miquela Hiller Business Analysis 07/19/21 Call with M. Webb re. cash flow model daily data and 0.40 $200.00 $80.00 timing Miquela Hiller Business Analysis 07/19/21 Update cash flow model with prior 3 weeks' data, update 1.80 $200.00 $360.00 monthly operating report with 2nd Chase account data, and update cash flow model variance tracking Chuck Keenon Business Analysis 07/19/21 Prepare notes and site visit documentation including 1.00 $225.00 $225.00 photos for 13 locations Miquela Hiller Business Analysis 07/21/21 Update cash flow model with prior day data 0 .30 $200.00 $60.00 Miquela Hiller Business Analysis 07/22/21 Update cash flow model with prior day data, update cash 0.90 $200.00 $180.00 flow for prior week data Miquela Hiller Business Analysis 07/23/21 Update cash flow model with prior day data, and prepare 0.80 $200.00 $160.00 modified break even analysis for June sales Miquela Hiller Business Analysis 07/26/21 Sort and classify pre-June bank statements, daily cash 1.10 $200.00 $220.00 flow model update Douglas Leach Business Analysis 07/28/21 Zoom meeting w/ M Webb, S Bailey and B Landstrom to 0.90 $250.00 $225.00 discuss weekly review of A/P, bi-monthly payroll process and process for preparing 28-day report for LQD Miquela Hiller Business Analysis 07/29/21 Daily/weekly cash flow model updates 4 .70 $200.00 $940.00 Miquela Hiller Business Analysis 07/30/21 Daily cash flow model update, and assist with preparation 1.30 $200.00 $260.00 of cash collateral budget Miquela Hiller Business Analysis 08/03/21 Daily update of cash flow model from 7/31-8/2 0 .40 $200.00 $80.00 Miquela Hiller Business Analysis 08/05/21 12 month budget and prior 3 week 5th Motion to Actual 1.40 $200.00 $280.00 comparison Miquela Hiller Business Analysis 08/06/21 12 month budget and break even analysis 0 .80 $200.00 $160.00 Miquela Hiller Business Analysis 08/09/21 Daily updates to cash flow model 0 .40 $200.00 $80.00 Douglas Leach Business Analysis 08/11/21 Reviewed payroll and prepared summary of variances, 0.70 $250.00 $175.00 including new hires and pay raises; related follow up w/ S Bailey Miquela Hiller Business Analysis 08/11/21 Update of daily actuals to cash flow model 0 .50 $200.00 $100.00 Douglas Leach Business Analysis 08/12/21 Analysis of payables against projections and preparation of 0.30 $250.00 $75.00 cash collateral budget with actuals versus budgeted Miquela Hiller Business Analysis 08/12/21 Daily and weekly update of cash flow model 0 .50 $200.00 $100.00 Matthew Brash Business Operations 04/27/21 Regular/weekly debtor call 0 .30 $295.00 $88.50 Matthew Brash Business Operations 04/27/21 Multiple calls with debtor, debtor's counsel and LQD 1.60 $295.00 $472.00 Matthew Brash Business Operations 06/25/21 Multiple calls and emails re: next steps in case - issues 1.60 $295.00 $472.00 with close of restaurant in Bloomington; calls with de
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UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION In re: ) ) Case No. 21bk04729 Crave Brands, LLC ) ) Chapter 11 Debtor. ) ). Honorable Timothy A. Barnes FINDINGS OF FACT AND CONCLUSIONS OF LAW IN SUPPORT OF ORDER AWARDING TO MATTHEW BRASH, SUBCHAPTER V TRUSTEE, FOR ALLOWANCE AND PAYMENT OF INTERIM COMPENSATION AND REIMBURSEMENT OF EXPENSES TOTAL FEES REQUESTED: $54,974.50 ‘TOTAL COSTS REQUESTED: — $425.45 TOTAL FEES REDUCED: $ 236.00 TOTAL COSTS REDUCED: $ 0.00 TOTAL FEES ALLOWED: $ 54,738.50 ‘TOTAL COSTS ALLOWED: $ 425.45 TOTAL FEES AND COSTS ALLOWED: $ 55,163.95 ‘The attached time and expense entries have been underlined to reflect disallowance in whole or in part. The basis for each disallowance is reflected by numerical notations that appear on the left of each underlined entry. The numerical notations correspond to the enumerated paragraphs below.
(1) Unauthorized Work — TOTAL of disallowed amounts $ 236.00 The Court denies the allowance of compensation for work done prior to the authorization of retention. In re Spanjer Bros., Inc., 203 B.R. 85, 94 (Bankr. N.D. IIL 1996) (Squires, J.) (“The Court will not retrospectively allow any of the time expended prior to the time of the authorized retention because to do so would be to reward any delay or tardiness in promptly seeking retention. ‘To allow bootstrapping of objected to fees paid at the expense of unsecured creditors undermines the policy in favor of prompt application for retention by professionals who will be seeking compensation from the bankruptcy estate. See generally 11 U.S.C. § 327 (prerequisite to the allowance of any fees or expenses that professional be employed); In re Peoples Sav. Corp., 114 B.R. 151, 154 (Bankr. N.D. IIL 1990) (‘In the absence of a court order approving the Applicant’s employment, there is no statutory basis upon which the Court can make a fee award.’)’”). ROSS Dated: 10.25.21 ‘ _ ‘Timothy A. Barnes United States Bankruptcy Judge
Matthew Brash Business Analysis 04/28/21 Convert company cash flow model to NAC cash flow 3.00 $200.00 $600.00 format Matthew Brash Business Analysis 05/03/21 Updated cash flow model with weekly data 0 .90 $200.00 $180.00 Matthew Brash Business Analysis 05/05/21 Build variance by week tab within cash flow model 0 .30 $200.00 $60.00 Matthew Brash Business Analysis 05/11/21 Update cash flow model weekly actuals 0 .30 $200.00 $60.00 Matthew Brash Business Analysis 05/14/21 Update cash flow model with weekly actual data 0 .30 $200.00 $60.00 Matthew Brash Business Analysis 05/17/21 Update cash flow model with data provided by company 0 .50 $200.00 $100.00 Matthew Brash Business Analysis 05/25/21 Update cash flow model with actual data provided 0 .30 $200.00 $60.00 Matthew Brash Business Analysis 05/28/21 Update cash flow model with actual data provided 0 .30 $200.00 $60.00 Matthew Brash Business Analysis 06/07/21 Update cash flow model with prior week actuals 0 .20 $200.00 $40.00 Matthew Brash Business Analysis 06/09/21 Cash flow model extension, comparison of original projects 1.50 $200.00 $300.00 to new, update with actuals Matthew Brash Business Analysis 06/15/21 Prior week update and review of cash flow model 0 .30 $200.00 $60.00 Matthew Brash Business Analysis 06/16/21 Extension of cash flow model and prepare analysis to 2.50 $200.00 $500.00 compare original to current forecast Matthew Brash Business Analysis 06/23/21 Weekly update of cash flow model 0 .30 $200.00 $60.00 Miquela Hiller Business Analysis 07/01/21 Assist Trustee by updating cash flow model based on 0.90 $200.00 $180.00 access/actual financials on Fifth Third and Chase Bank accounts Matthew Brash Business Analysis 07/06/21 Organized data from Meathead financials to demonstrate 1.60 $295.00 $472.00 what the profit share might be for WDH based on EBTDA; prepared summary together with a detailed spreadsheet supporting the calculation Miquela Hiller Business Analysis 07/06/21 Call with Trustee regarding cash flow model 0 .30 $200.00 $60.00 Miquela Hiller Business Analysis 07/06/21 Compare bank statements to data provided and update 1.50 $200.00 $300.00 cash flow model for Trustee Douglas Leach Business Analysis 07/07/21 Zoom call w/ MH, and M Webb to obtain passwords for 0.60 $250.00 $150.00 accounting and POS and discussed preparation of daily cash flow report Douglas Leach Business Analysis 07/08/21 Call with MH, CS, MH and S. Karfaridis and M. Webb to 1.00 $250.00 $250.00 discuss current issues and the Period 6 monthly consolidated P and L Miquela Hiller Business Analysis 07/08/21 Review Chase bank data, set up and review reports in 1.20 $200.00 $240.00 Aloha and Compeat Software Douglas Leach Business Analysis 07/09/21 Zoom meeting w/ MH and S. Gailey to go through the 0.40 $250.00 $100.00 Aloha POS reports and how to retrieve the information Newpoint requires to prepare cash flow analysis Miquela Hiller Business Analysis 07/09/21 Updated cash flow model with data from Aloha software 0 .40 $200.00 $80.00 Miquela Hiller Business Analysis 07/19/21 Call with M. Webb re. cash flow model daily data and 0.40 $200.00 $80.00 timing Miquela Hiller Business Analysis 07/19/21 Update cash flow model with prior 3 weeks' data, update 1.80 $200.00 $360.00 monthly operating report with 2nd Chase account data, and update cash flow model variance tracking Chuck Keenon Business Analysis 07/19/21 Prepare notes and site visit documentation including 1.00 $225.00 $225.00 photos for 13 locations Miquela Hiller Business Analysis 07/21/21 Update cash flow model with prior day data 0 .30 $200.00 $60.00 Miquela Hiller Business Analysis 07/22/21 Update cash flow model with prior day data, update cash 0.90 $200.00 $180.00 flow for prior week data Miquela Hiller Business Analysis 07/23/21 Update cash flow model with prior day data, and prepare 0.80 $200.00 $160.00 modified break even analysis for June sales Miquela Hiller Business Analysis 07/26/21 Sort and classify pre-June bank statements, daily cash 1.10 $200.00 $220.00 flow model update Douglas Leach Business Analysis 07/28/21 Zoom meeting w/ M Webb, S Bailey and B Landstrom to 0.90 $250.00 $225.00 discuss weekly review of A/P, bi-monthly payroll process and process for preparing 28-day report for LQD Miquela Hiller Business Analysis 07/29/21 Daily/weekly cash flow model updates 4 .70 $200.00 $940.00 Miquela Hiller Business Analysis 07/30/21 Daily cash flow model update, and assist with preparation 1.30 $200.00 $260.00 of cash collateral budget Miquela Hiller Business Analysis 08/03/21 Daily update of cash flow model from 7/31-8/2 0 .40 $200.00 $80.00 Miquela Hiller Business Analysis 08/05/21 12 month budget and prior 3 week 5th Motion to Actual 1.40 $200.00 $280.00 comparison Miquela Hiller Business Analysis 08/06/21 12 month budget and break even analysis 0 .80 $200.00 $160.00 Miquela Hiller Business Analysis 08/09/21 Daily updates to cash flow model 0 .40 $200.00 $80.00 Douglas Leach Business Analysis 08/11/21 Reviewed payroll and prepared summary of variances, 0.70 $250.00 $175.00 including new hires and pay raises; related follow up w/ S Bailey Miquela Hiller Business Analysis 08/11/21 Update of daily actuals to cash flow model 0 .50 $200.00 $100.00 Douglas Leach Business Analysis 08/12/21 Analysis of payables against projections and preparation of 0.30 $250.00 $75.00 cash collateral budget with actuals versus budgeted Miquela Hiller Business Analysis 08/12/21 Daily and weekly update of cash flow model 0 .50 $200.00 $100.00 Matthew Brash Business Operations 04/27/21 Regular/weekly debtor call 0 .30 $295.00 $88.50 Matthew Brash Business Operations 04/27/21 Multiple calls with debtor, debtor's counsel and LQD 1.60 $295.00 $472.00 Matthew Brash Business Operations 06/25/21 Multiple calls and emails re: next steps in case - issues 1.60 $295.00 $472.00 with close of restaurant in Bloomington; calls with debtor's counsel, secured creditors' counsel and UST Matthew Brash Business Operations 06/30/21 Multiple calls and emails with Crave management re: 1.70 $295.00 $501.50 financials, AP run, operational issues, Aloha system, price and menu Matthew Brash Business Operations 06/30/21 Set-up and transition of Fifth Third and Chase Bank 0.90 $200.00 $180.00 Accounts; multiple calls and emails with M. Webb and bankers/treasury management for Fifth Third and Chase Bank Carin Sorvik Business Operations 07/01/21 Call w/ MB, S. Karfaridis and M. Webb regarding 0.90 $275.00 $247.50 operations and transition; related follow up Matthew Brash Business Operations 07/01/21 Call with debtor - SK and MW re: AP and payroll; review of 2.40 $295.00 $708.00 financials; access to 53.com and Fifth Third Direct; schedule for the day; walk-through critical items; issues with Aloha system Matthew Brash Business Operations 07/01/21 Regular debtor call - discussed continued transition from 0.70 $295.00 $206.50 DIP to TIP - insurance, financials, approve AP, payroll, operating procedures Carin Sorvik Business Operations 07/02/21 Regular call w/ MB, S. Karfaridis, and M. Webb regarding 0.50 $275.00 $137.50 operations and transition; related follow up including re MORs Matthew Brash Business Operations 07/02/21 Review and sign weekly AP run and budget comparison 0 .50 $200.00 $100.00 Matthew Brash Business Operations 07/02/21 Daily call with debtor reps - SK and MW. Reviewed 0.70 $295.00 $206.50 previous day actions items, labor and management concerns, financials and timing, food service and schedule for week beginning 7/5/21. Miquela Hiller Business Operations 07/02/21 Daily call with debtor principals and NAC team 0 .70 $200.00 $140.00 Carin Sorvik Business Operations 07/02/21 Call w/ MB, M Gensburg, and P Groben regarding open 1.00 $275.00 $275.00 items, including retention, PPP loan, and leases; related follow up Chuck Keenon Business Operations 07/06/21 Initial site visits Lincolnwood, Chicago Willowbrook, 3.00 $225.00 $675.00 Naperville, Barrington conducted on 7/2/2021 to assist Trustee in visting all store locations Chuck Keenon Business Operations 07/06/21 Travel to Lincolnwood, Chicago, Willowbrook, Naperville, 2.00 $112.50 $225.00 Barrington - site visit to assist Trustee Carin Sorvik Business Operations 07/06/21 Regular call w/ MB, S. Karfaridis, and M. Webb regarding 0.80 $275.00 $220.00 operations and transition; take notes and summarize for Trustee (who had to attend another hearing) Carin Sorvik Business Operations 07/06/21 Regular call w/ S. Karfaridis and store managers regarding 1.50 $275.00 $412.50 operations; related follow up - provide update for Trustee who had to attend court hearing Matthew Brash Business Operations 07/06/21 Daily call and review - credentials; financials; HVAC 1.20 $295.00 $354.00 issues; labor issues; taxes and tax prep work Miquela Hiller Business Operations 07/06/21 Daily call with debtor principals and NAC team 0 .40 $200.00 $80.00 Chuck Keenon Business Operations 07/07/21 Initial Site visits Normal, Bloomington, Champaign, 4.00 $225.00 $900.00 Frankford, Munster Oaklawn IL. Matthew Brash Business Operations 07/07/21 Daily call with debtor - review of credentials; management; 1.20 $295.00 $354.00 vendor issues and meat shortage Miquela Hiller Business Operations 07/07/21 Daily call with debtor principals and NAC team; follow up 1.60 $200.00 $320.00 call with DL and M. Webb to review cash flow model source data Chuck Keenon Business Operations 07/07/21 Travel to Normal, Bloomington, Champlain, Frankfort, 2.00 $112.50 $225.00 Munster, Oaklawn IL Chuck Keenon Business Operations 07/07/21 Travel to Normal, Bloomington, Champlain, Frankfort, 4.20 $112.50 $472.50 Munster, Oaklawn IL Carin Sorvik Business Operations 07/07/21 Regular call w/ MB, S. Karfaridis, and M. Webb regarding 1.20 $275.00 $330.00 operations and transition; related follow up Carin Sorvik Business Operations 07/08/21 Regular call w/ MB, S. Karfaridis, and M. Webb regarding 1.50 $275.00 $412.50 operations; related follow up Matthew Brash Business Operations 07/08/21 Daily debtor call - daily reports and financials; taxes and 0.90 $295.00 $265.50 other items Miquela Hiller Business Operations 07/08/21 Daily call with debtor principals and NAC team 1 .10 $200.00 $220.00 Carin Sorvik Business Operations 07/09/21 Call w/ MB, S. Karfaridis, M. Webb, and S. Bailey 1.20 $275.00 $330.00 regarding operations; related follow up Matthew Brash Business Operations 07/09/21 Daily debtor call - discuss financials, monthly reporting, 0.80 $295.00 $236.00 calendar events and possible transition with WDHG Miquela Hiller Business Operations 07/09/21 Daily call with debtor principals and NAC team; follow up 1.50 $200.00 $300.00 call with DL and SBailey to review Aloha and Compeat reports Carin Sorvik Business Operations 07/12/21 Call w/ MB, S. Karfaridis, M. Webb, and S. Bailey 0.30 $275.00 $82.50 regarding operations; related follow up Matthew Brash Business Operations 07/15/21 Sign and mail checks 0 .50 $295.00 $147.50 operating reports; related follow up Matthew Brash Business Operations 07/15/21 Call with debtor and debtor's counsel re: transition and 0.80 $295.00 $236.00 plan Carin Sorvik Business Operations 07/16/21 Call w/ MB, S. Karfaridis, M. Webb, B. Hockett, M. Groben, 0.90 $275.00 $247.50 and P. Groben; related follow up Carin Sorvik Business Operations 07/16/21 Preparation of June 2021 monthly operating reports, 3.30 $275.00 $907.50 including review of cash receipts and disbursements Matthew Brash Business Operations 07/20/21 Debtor call - review of cash flow; operational items and 0.80 $295.00 $236.00 staffing Matthew Brash Business Operations 07/21/21 Weekly debtor call 1 .00 $0.00 $0.00 Matthew Brash Business Operations 07/22/21 Call and emails with employees re: update on bankruptcy 1 .50 $295.00 $442.50 Matthew Brash Business Operations 07/22/21 Monthly Operating Report Review; review of AP and cash 0.80 $295.00 $236.00 flow model Matthew Brash Business Operations 07/23/21 Operations call with WDHG and debtor - review insurance, 0.80 $295.00 $236.00 MOR, AP, PPP2 forgiveness, operational controls and processes and food costs/menu pricing Matthew Brash Business Operations 07/23/21 Update call with UST 0 .30 $0.00 $0.00 Matthew Brash Business Operations 07/26/21 Call with debtor and WDHG - operational processes and 1.00 $295.00 $295.00 updates Matthew Brash Business Operations 07/27/21 Financial call; review of payroll and AP 1 .50 $295.00 $442.50 Matthew Brash Business Operations 07/29/21 Call with WDHG and debtor re: operations, financials and 1.00 $295.00 $295.00 BK essentials Matthew Brash Business Operations 07/29/21 Update call with Trustee Counsel re: list of to do; cash 0.80 $295.00 $236.00 collateral, insurance, accept/reject leases, PPP forgiveness Matthew Brash Business Operations 08/02/21 Update call with WDHG re: operations of business 0 .30 $295.00 $88.50 Matthew Brash Business Operations 08/02/21 Weekly debtor call with WDHG - review of menu prices, 1.00 $295.00 $295.00 scheduling, cash flow, vendor relations; next steps and improvement of overall operations Carin Sorvik Business Operations 08/02/21 Call w/ Well Done, Steve K., and M. Webb regarding 0.70 $0.00 $0.00 operations Matthew Brash Business Operations 08/03/21 Crave-Meatheads internal call - review of AP and cash 0.50 $295.00 $147.50 flow; reporting requirements Carin Sorvik Business Operations 08/04/21 Various emails regarding operations 0 .50 $0.00 $0.00 Carin Sorvik Business Operations 08/09/21 Call w/ MB, Well Done, and Steve K. regarding operations 0 .50 $0.00 $0.00 Matthew Brash Business Operations 08/12/21 Weekly call with debtor and Well Done 0 .80 $295.00 $236.00 Carin Sorvik Business Operations 08/12/21 Call w/ MB, Well Done, Steve K., and M. Webb regarding 0.50 $0.00 $0.00 operations Carin Sorvik Business Operations 08/12/21 Analysis of monthly operating reports filed by Debtor for 0.90 $275.00 $247.50 Crave and Meatheads; related follow up Carin Sorvik Business Operations 08/12/21 Preparation of July 2021 monthly operating report 0 .50 $275.00 $137.50 Carin Sorvik Business Operations 08/13/21 Follow up with M. Webb regarding May 2021 monthly 0.20 $275.00 $55.00 operating report cash variance to bank statements Matthew Brash Cash Collateral 04/12/21 Call with debtor and LQD re: cash collateral and adequate 1.00 $295.00 $295.00 protection Matthew Brash Cash Collateral 04/28/21 Call with LQD re: cash collateral budget / other 0 .50 $295.00 $147.50 Matthew Brash Cash Collateral 05/14/21 Call with LQD 0 .50 $295.00 $147.50 Matthew Brash Cash Collateral 05/17/21 Call with LQD 0 .50 $295.00 $147.50 Matthew Brash Cash Collateral 06/16/21 Crave Hearing - Cash Collateral Motion 0 .50 $295.00 $147.50 Matthew Brash Cash Collateral 06/29/21 Multiple calls with debtor and debtor's counsel; LQD and 1.80 $295.00 $531.00 commence transition Carin Sorvik Cash Collateral 07/01/21 NAC internal kickoff call; related follow up including review 1.80 $275.00 $495.00 of pleadings regarding use of cash collateral, monthly operating reports, schedules and SOFAs Carin Sorvik Cash Collateral 07/07/21 Assist Trustee in preparation of cash collateral budget, 2.50 $275.00 $687.50 including analysis of actual daily cash activity petition to date; related follow up Carin Sorvik Cash Collateral 07/08/21 Continued preparation of budget re. 5th motion for use of 2.90 $275.00 $797.50 cash collateral; related follow up Matthew Brash Cash Collateral 07/08/21 Cash collateral and budget review; calls with LQD and 1.70 $295.00 $501.50 counsel re: cash collateral budget; review of Fifth Third Direct and AP cut Carin Sorvik Cash Collateral 07/09/21 Call w/ W. Factor, M. Gensburg, P. Groben, and MB 2.70 $275.00 $742.50 regarding cash collateral budget, and continued preparation of same per call; related follow up Carin Sorvik Cash Collateral 07/12/21 Follow up regarding cash collateral budget 0 .30 $275.00 $82.50 Matthew Brash Cash Collateral 07/20/21 Call w/ P. Groben and M. Gensburg to discuss cash 1.10 $295.00 $324.50 collateral report and reporting/review requirements going forward Matthew Brash Cash Collateral 07/22/21 Update call with LQD re: status of BK 0 .50 $295.00 $147.50 Matthew Brash Cash Collateral 07/26/21 Cash collateral review 1 .50 $295.00 $442.50 Matthew Brash Cash Collateral 07/29/21 Update call with LQD re: status of BK 0 .40 $295.00 $118.00 OE
related follow up including calls w/ M. Webb and budget Matthew Brash Cash Collateral 07/30/21 Update and review of cash collateral budget with debtor, 1.40 $295.00 $413.00 LQD and counsel regarding extension of three weeks, Plan, cash flow, and WDH up
Matthew Brash Court Hearing 04/13/21 Review of first-day motions (emergency motions); call with 1.20 $0.00 $0.00 (1) Unauthorized work reduced 100% se and LQD re: status and agreeing to proceed in Su
Matthew Brash Court Hearing 06/28/21 Attend hearing; multiple calls re: DIP to TIP and calls with 3.40 $295.00 $1,003.00 debtor and debtor's counsel; multiple calls with debtor principals and counsel for debtor re: next steps and TIP process; call with UST dismiss retention and initial open items Carin Sorvik Employment Application 07/01/21 Call w/ MB, P. Groben, M. Gensburg, Well Done 0.90 $275.00 $247.50 Hospitality - J. Falk, J. Rolls, S. Abid, S. Prebish, LQD - E. Weisheit, W. Manderscheid, B. Factor; related follow up Matthew Brash Employment Application 07/01/21 Review of previous Well Done proposal; call with LQD, 1.10 $295.00 $324.50 LQD counsel, Well Done and Well Done counsel to discuss retention as consultant/manager under Sub V Trustee up wi MB Matthew Brash Employment Application 07/02/21 Call with M. Gensburg and P. Groben re: retention 1.00 $0.00 $0.00 motions, PPP forgiveness, operations update and calendar of events for July 2021 and August 2021 (deadlines), trustee/debtor plan related follow up Matthew Brash Employment Application 07/05/21 Retention of counsel review; motions and other 1.90 $295.00 $560.50 retention/management contracts review - specifically WDHG, edit and submit; multiple calls with WDHG, LQD and proposed counsel Well Done proposal and analysis of profit sharing proposal Matthew Brash Employment Application 07/07/21 Call w/M Gensburg and P. Groben regarding Well Done 0.80 $295.00 $236.00 proposal and cash collateral considerations; related follow up Matthew Brash Employment Application 07/07/21 Multiple calls and emails with Trustee counsel; debtor and 1.70 $295.00 $501.50 LQD (and counsel) to review retention of Well Done Hospitality Group as day-to-day operators. First call with Trustee team to review initial comments and feedback; follow-up call with LQD and counsel; cash collateral review and timing for ERC collateral budget review and plan of reorganization Matthew Brash Employment Application 07/10/21 Call with WDHG re: retention and next steps re: services, 1.00 $295.00 $295.00 communication and set-up; review of motion for retention and call with M. Gensburg re: final comments
Matthew Brash Employment Application 07/15/21 Multiple calls and emails re: retention of WDHG; review of 1.40 $295.00 $413.00 budget and cash flow Carin Sorvik Employment Application 07/16/21 Preparation of first interim fee application 1 .70 $275.00 $467.50 Matthew Brash Employment Application 07/16/21 Call with WDGH re: transition and updates on essential 0.80 $295.00 $236.00 operational tasks Carin Sorvik Employment Application 07/19/21 Continued preparation of first interim fee application 0 .60 $275.00 $165.00 Matthew Brash Leases and Executory Contracts 07/16/21 Review lease terms for each store location and prepare 1.20 $295.00 $354.00 summary of same Matthew Brash Leases and Executory Contracts 07/19/21 Prepare summary of lease terms for each location 4 .90 $295.00 $1,445.50 Matthew Brash Plan and Disclosure Statement 04/20/21 Call with debtor - Sub V Intro; review of cash flow model 0.50 $295.00 $147.50 and strategy for confirming consensual plan Matthew Brash Plan and Disclosure Statement 05/11/21 Call with debtor's counsel and UST - G. Silver re: status of 0.50 $295.00 $147.50 plan and case Matthew Brash Plan and Disclosure Statement 05/12/21 Call with D. Warfield re: plan of reorganization 0 .50 $295.00 $147.50 Matthew Brash Plan and Disclosure Statement 05/14/21 Calls with D. Warfield and debtor re: plan of reorganization 0 .70 $295.00 $206.50 Matthew Brash Plan and Disclosure Statement 05/14/21 Update calls with debtor's counsel and LQD re: timing of 0.70 $295.00 $206.50 plan and possible avenues for a consensual plan Matthew Brash Plan and Disclosure Statement 05/19/21 Call with debtor and debtor's counsel; discuss first review 1.00 $295.00 $295.00 of plan and layout; explain balance of ability to reorganize and requirement(s) to pay back creditors Matthew Brash Plan and Disclosure Statement 05/26/21 Multiple calls and emails concerning plan status and 1.80 $295.00 $531.00 review; next steps and deposition review; calls with prospective interested DIP lenders, lenders post-petition and possible buyers. Informed all parties that the trustee will forward along the message to debtor and debtor's counsel. Matthew Brash Plan and Disclosure Statement 06/04/21 Call with LQD re: plan of reorganization 0 .70 $295.00 $206.50 Matthew Brash Plan and Disclosure Statement 06/11/21 Review of first draft of Crave Plan with LQD; prepare 1.70 $295.00 $501.50 DSCR and internal financial review - send notes and comments and forward plan to debtor's counsel Matthew Brash Plan and Disclosure Statement 06/15/21 Review of plan; set-up of meeting/creditors 0 .90 $295.00 $265.50 Matthew Brash Plan and Disclosure Statement 06/21/21 Meeting at Thompson Coburn; plan review and 3.20 $295.00 $944.00 discussions with LQD, LQD Counsel, Debtor's Counsel Matthew Brash Plan and Disclosure Statement 06/21/21 Travel to/from meeting at Thompson Coburn 2 .00 $147.50 $295.00 Matthew Brash Plan and Disclosure Statement 06/22/21 Call with debtor, debtor's counsel, LQD and LQD's counsel 1.00 $295.00 $295.00 re: plan and settlement discussions Matthew Brash Plan and Disclosure Statement 06/22/21 Follow-up call b/t LQD and Crave re: plan; review bullet 1.20 $295.00 $354.00 points for plan and timing Matthew Brash Plan and Disclosure Statement 06/23/21 Review of plan comments and red line 0 .90 $295.00 $265.50 Matthew Brash Plan and Disclosure Statement 07/07/21 Call with M. Webb re: plan of reorganization and exit 0 .70 $295.00 $206.50 Matthew Brash Plan and Disclosure Statement 07/08/21 Call with Steve K. re: plan of reorganization and next steps 0 .50 $295.00 $147.50 Matthew Brash Plan and Disclosure Statement 07/29/21 Call with S. Karfaridis re: plan and next steps for BK 0 .50 $0.00 $0.00 Matthew Brash Plan and Disclosure Statement 07/30/21 Call with debtor, debtor's counsel and trustee counsel re: 2.40 $295.00 $708.00 plan of reorganization; timing to file debtor plan and options for plan moving forward; follow-up call with creditor LQD re: plan timing and input Matthew Brash Plan and Disclosure Statement 08/01/21 Call with prospective third party lender re: necessity to take 0.30 $295.00 $88.50 out lender Matthew Brash Plan and Disclosure Statement 08/03/21 Call with prospective financier - discuss due diligence 0.50 $295.00 $147.50 items Matthew Brash Plan and Disclosure Statement 08/05/21 Multiple calls and emails re: budget; plan budget; DIP 1.80 $295.00 $531.00 financing; call with LQD update and status of cash flow, plan and possible exit scenarios Matthew Brash Plan and Disclosure Statement 08/06/21 Update call with Trustee's Counsel - discuss timing for 1.20 $295.00 $354.00 filing plan (debtor's plan); payment to unsecured creditors; leases and PPP status Matthew Brash Plan and Disclosure Statement 08/09/21 Call with M. Gensburg re: debtor's plan points; feasibility of 0.40 $295.00 $118.00 proposed plan points and need to have update call with debtor and debtor's counsel to review all options Matthew Brash Plan and Disclosure Statement 08/10/21 Call with debtor, debtor's counsel, trustee counsel re: 1.00 $295.00 $295.00 status of plan Matthew Brash Plan and Disclosure Statement 08/13/21 Call with LQD re: plan and status of case 0 .50 $295.00 $147.50 Matthew Brash Plan and Disclosure Statement 08/13/21 Review of debtor's plan; call with debtor re: proposed plan 2 .20 $295.00 $649.00 TOTAL: 215.90 $ 5 4,974.50